Credit Card Fraudsters Pump Gas Stations for Profit
As motorists head out on the last big driving weekend of the summer, the credit card industry and gas station owners are deploying everything from sophisticated software to heavy-duty padlocks to combat an epidemic of fuel-related theft and fraud. While many big merchants will have equipment in place by Oct. 1 to accept the new chip-based cards, tougher guidelines set by Visa and MasterCard don’t apply to gas stations until 2017.
No Credit Card at Checkout? Online Shopping Just Got Even Easier
As it currently stands, online checkouts are far from seamless. I learned to dread the process from an early age. My mother, near the end of any and every online purchase, would inevitably yell, “Can somebody please bring me my wallet?!” But a Swedish checkout service that officially debuted in the U.S. on Tuesday is in the market to fix that. The service is named Klarna, and the way it works is this: when it comes time for checkout, you type in your email address, shipping address, and sometimes your phone number. The service then quickly decides-based on whatever data about you it can gather-whether it will extend you credit. Assuming you are worthy, your purchase is complete. No credit card necessary–yet. Customers have 14 days to pay. After that, a warning is issued. Eventually, anyone who doesn’t make good on a bill will see late payment fees and possibly have to deal with a debt collection agency.
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