Mint.com has announced raising $14 million in a Series C financing round led by DAG Ventures. The company described the financing as "a preemptive round, with new participation from The Founder's Fund, and investment from existing investors Benchmark Capital, Shasta Ventures, First Round Capital, and Sherpalo. Valuation is not being disclosed, but it represents a significant up round." READ MORE »

The New Zealand Commerce Commission has announced it has "signed an agreement with the Visa International Service Association and Visa Worldwide Pte Limited (Visa) settling the Commission’s claims against Visa in relation to credit card interchange fees. The Commission’s proceedings allege that the rules of the Visa scheme providing for the payment of multilateral interchange fees, together with related rules, breached the restrictive trade practices provisions of the Commerce Act." READ MORE »

In an article titled "Cardholders Get Rude Surprise at the Register," Mary Pilon writes for the Wall St. Journal about credit card issuers quietly cancelling accounts before cardholders have received notification about their accounts being cancelled. Instead, cardholders are having their purchases declined at checkout and, when they call their card issuer, being told that their account had been cancelled and a letter was on its way. Issuers claim that under current law they can cancel the account and only have to notify the cardholder within 30 days following cancellation.

VeriFone Holdings has announced that RBS WorldPay has agreed to work jointly towards marketing VeriFone's VeriShield Protect end-to-end solution for encrypting payment card data. According to VeriFone, "RBS WorldPay is the first merchant acquirer to endorse a commercial end-to-end encryption solution. By encrypting the card number on swipe, right at the point of sale, RBS WorldPay merchants who choose the VeriShield Protect solution will be able to dramatically reduce both their own risk and that of their customers as well." READ MORE »

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