Electronic Payment Systems – Page 2

Israeli Gets U.S. Prison Time for Hacking Scheme That Targeted Climate Advocates Fighting Exxon

16Nov

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World

Israeli Gets U.S. Prison Time for Hacking Scheme That Targeted Climate Advocates Fighting Exxon

Updated Nov. 16, 2023 4:31 pm ETAn Israeli private detective was sentenced to nearly seven years in prison Thursday for his role in a hacking-for-hire scheme that involved attempts to discredit investigations into whether Exxon Mobil deceived the public about the risks of climate change. Aviram Azari pleaded guilty last year in a New York federal court to managing illegal intelligence-gathering and spear-phishing campaigns from 2014 until his arrest in 2019. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Warren Buffett’s Berkshire Hathaway Sheds Investments in GM, J&J and P&G

15Nov

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Money

Warren Buffett’s Berkshire Hathaway Sheds Investments in GM, J&J and P&G

Warren Buffett’s Berkshire Hathaway eliminated its stake in a handful of American blue chips, including General Motors and Johnson & Johnson, while the stock market’s rally sputtered in the third quarter.The company also sold off smaller positions in Procter & Gamble, Mondelez International and United Parcel Service, while trimming its investments in Amazon.com, Chevron and HP, among others.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

7Nov

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Money

Goldman Moves to Unload GM Credit Card

Updated Nov. 7, 2023 5:44 pm ETGoldman Sachs plans to begin a process to unload its General Motors credit-card program in another step away from its failed foray into consumer lending.The bank on Tuesday informed a group of employees within its Platform Solutions division, who work on the GM card, that a process to find a new issuer will begin soon, people familiar with the matter said. GM is expected to run the process.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Fed Floats Deep Cuts to Debit-Card Swipe Fees

26Oct

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Money

Fed Floats Deep Cuts to Debit-Card Swipe Fees

Updated Oct. 25, 2023 2:26 pm ETWASHINGTON—The Federal Reserve proposed lowering by about 30% the fees merchants pay to many banks when consumers shop with debit cards, setting off a fight with banks that oppose the changes. At present, merchants pay large card issuers such as JPMorgan Chase and Bank of America 21 cents plus 0.05% of the transaction amount, which is the level set by the Fed in 2011. The Fed can lower the cap if it determines the costs for processing debit-card payments are declining, but it had never previously done so.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Fed to Float Deep Cuts to Debit-Card Swipe Fees

25Oct

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World

Fed to Float Deep Cuts to Debit-Card Swipe Fees

Oct. 25, 2023 12:40 pm ETWASHINGTON—The Federal Reserve is set to propose lowering by about 30% the fees merchants pay to many banks when consumers shop with debit cards, setting off a fight with banks that oppose the changes. At present, merchants pay large card issuers such as JPMorgan Chase and Bank of America 21 cents plus 0.05% of the transaction amount, which is the level set by the Fed in 2011. The Fed can lower the cap if it determines the costs for processing debit-card payments are declining, but it has never previously done so.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Visa, Mastercard Want a Slice of Africa’s Mobile Money

19Oct

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Money

Visa, Mastercard Want a Slice of Africa’s Mobile Money

Updated Oct. 19, 2023 12:01 am ETListen to article(2 minutes)JOHANNESBURG—African fintech companies have found creative ways to help the continent’s consumers spend their money. Traditional payments companies want in.Global payment giants, including Mastercard and Visa, are pouring billions of dollars into African companies that have powered a sharp expansion in e-commerce on the continent. Recent deals have focused on mobile-money operators, which allow users to send funds using simple cellphones, and platforms that facilitate such payments for merchants such as Uber Technologies, Netflix or Estée Lauder without relying on credit cards or bank accounts.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

19Oct

By adminNo Comments

Money

Visa, Mastercard Want a Slice of Africa’s Mobile Money

Oct. 18, 2023 11:00 pm ETListen to article(2 minutes)JOHANNESBURG—African fintech companies have found creative ways to help the continent’s consumers spend their money. Traditional payments companies want in.Global payment giants, including Mastercard and Visa, are pouring billions of dollars into African companies that have powered a sharp expansion in e-commerce on the continent. Recent deals have focused on mobile-money operators, which allow users to send funds using simple cellphones, and platforms that facilitate such payments for merchants such as Uber Technologies, Netflix or Estée Lauder without relying on credit cards or bank accounts.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8