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« October 21, 2006 | Main | October 23, 2006 »

October 22, 2006

Researchers: "Privacy Pitfalls" In Contactless Cards

Tags » Card Technology, Contactless Payments

John Schwartz reports for the New York Times in Monday's edition on new research completed by "a new consortium of industry and academic researchers financed by the National Science Foundation to study RFID" that concludes there are "potential security and privacy holes" in contactless cards. As part of the article, the Times links to two papers published by researchers Thomas S. Heydt-Benjamin, Daniel V. Bailey, Kevin Fu, Ari Juels, and Tom O’Hare: "Vulnerabilities in First-Generation RFID-enabled Credit Cards" (PDF) and "RFID Payment Card Vulnerabilities Technical Report" (PDF).

Beware Credit Card Fees On Foreign Buys

Tags » Bank of America, Capital One, Credit Cards, Currency Conversion

Binyamin Appelbaum writes for the Charlotte Observer about fees imposed by credit card issuers on purchases made outside the US. Some issuers (Bank of America is the example he cites) are charging 3%. Others, including Capital One, don't surcharge at all.

Credit Card Fees You Didn't Know You Pay

Tags » Interchange Fees

In a letter to the editor of the Washington Post, Tim Hammonds, president and CEO of the Food Marketing Institute reacts to the recent GAO report on credit card fees saying "the report missed an even larger hidden fee consumers ultimately pay: the interchange fees charged on virtually every purchase." For more on the GAO report, see this article.

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