Fintech

ATLANTA – Global Payments Inc. has conceded it is the source of the huge cards breach affecting Visa and MasterCard cards.

If the Merchant Advisory Group is nothing else, it sure has been a persistent voice in supporting chip-and-PIN card transactions as the most-secure option for eventual U.S. acceptance of EMV smart cards.

Are credit card portfolios poised to begin growing again?

ATLANTA – Trading in Global Payments Inc. was halted this afternoon when the company’s shares plunged 13% after credit cards processor was identified as the likely source of the massive cards breach affecting Visa and MasterCard.

NetSpend Holdings Inc. has launched a prepaid MasterCard developed with entertainment conglomerate BET Network, the companies announced.

This is an updated version of an article posted earlier on March 30.

A federal appeals court this week affirmed a lower court’s conviction of a former ATM specialist at Pacific Marine Credit Union at Camp Pendleton who walked out of work one day in 2002 with a tissue box-sized brick of 1,000 $100 bills stuffed into a backpack.

NEW YORK – Visa and MasterCard are warning credit unions and banks this morning of a large-scale data breach that affected a credit card processor from the US sometime between January 21, and February 25.

The drumbeats are growing louder for the Consumer Financial Protection Bureau to take action on reloadable prepaid cards.

Regions Financial has finished rolling out a suite of alternative financial services, including check cashing, money transfer and expedited bill pay services, along with a prepaid card.