Word: credit-card
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Banks began charging interchange fees in the 1960s to cover the cost of processing credit-card transactions. "But even as technology has dropped that cost dramatically, banks and credit-card companies have pushed swipe fees higher and higher, turning it into a cash cow," the report notes. "For many businesses, swipe fees are now their single highest non-labor operating cost...
...want to know how you managed to spend $2,000 on food last month, click on "Food." Bingo! A new graph, breaking down the details - including the drinks, the fast food and the mid-afternoon coffee runs - suddenly appears. Mint also sends perky little reminders about when your credit-card bills are due, notes if you got charged a fee for something, or questions transactions that don't look right. It even gives a cheerful nudge every time you go over budget on something. You'll excuse this, but it brings a hint of freshness to the stale morning breath...
...conspirators, in what is believed to be the largest retail-store theft in U.S. history. Gonzalez, who had been arrested on similar charges before, allegedly cracked the databases of 7-Eleven, two other retail chains and a New Jersey--based credit-card-processing company to steal some 130 million credit-card numbers...
...Heartland Payment Systems, which processes credit-card data for more than 250,000 businesses, accounts for most of the 130 million numbers cited in the New Jersey indictment. The company has thus far spent $12.6 million in legal costs and fines associated with the security breach...
...here on U.S. soil. That was his big flaw. If he were anywhere else, he's not going to jail." - Dan Clements, president of CardCops, which tracks stolen credit-card data online (The New York Times...