Reuters reports on California Superior Court Judge Ronald Sabraw's decision today ordering MasterCard and Visa to pay millions in refunds to customers after failing to properly disclose currency conversion fees. Both MasterCard and Visa said they would appeal the decision.

RFID Journal reports on the use of RFID tokens for payments.

Michael Madden, VP of e-business development for Mastercard International, said that using a contactless smart card could reduce the average transaction by 15 seconds. And since customers don't have to figure out how to swipe a card through a reader, the shopping experience is more satisfying.

TSYS has announced TSYS Notification, a new service which alerts cardholders of suspicious transactions.

Here's how it works: After TSYS gauges a transaction's veracity with its TSYS CardGuard® fraud detection system, TSYS Notification immediately sends a detailed, automated phone message that requests the customer to verify the transaction (e-mail notification will be added later). TSYS Notification then offers the customer several sophisticated response options: the customer could confirm the purchase, forward the information to other users on the account or connect to a CSR to discuss the transaction in more detail. The customer's responses are immediately updated in the processing system, which ensures that service personnel are fully prepared to meet the customer's needs before receiving the call.