Photo by Mike Mozart CC by 2.0
Just when you thought things couldn’t get any worse, another major retailer may have been compromised by a credit card data breach. Following in the footsteps of Target and Home Depot, Staples is the latest retailer to be hit with a potential credit card data breach. The breach couldn’t have come at a worse time – it comes amid the chain’s plan to close as many as 225 stores in Canada and the U.S.
As the saying goes, there are always two sides to every story. Last week we wrote about how wrangling between MasterCard and Visa is delaying lower credit card interchange fees. While consumers and retailers both want lower interchange fees, the solution isn’t so cut-and-dry.
Photo credit: Yuri Samsonov / Shutterstock.com
Canadians pay some of the highest credit card transaction fees in the world. The federal government promised to intervene, but it’s having a tough time coming to an agreement that all sides are satisfied with. Not only are high credit card fees bad for consumers, leading to higher prices, they hurt small businesses, too.
Credit card fraud today is more prevalent than ever before. Credit card issuers and fraudsters seem to be playing a never-ending game of cat and mouse. Whenever credit card security is improved, fraudsters find a way around it.
A recent news story in Calgary provides a good wakeup call with just how sophisticated credit card fraud has become. It’s important for cardholders to take the necessary precautions to avoid becoming the next victim of fraud.
Supreme Court – Ottawa, Canada
Are you clueless when it comes to your credit card fees? You’re not alone. In our hectic lives, it’s can be hard to find time to read the fine print of your credit card agreement. A recent court ruling highlights the importance of reviewing your agreement. The Supreme Court restored a ruling against some of Canada’s biggest banks over credit card fees. Let’s take a closer look at the ruling and why It’s important for cardholders to review their agreement.
With the loonie falling below 90 cents, cross border shopping is a lot less attractive. But a higher Canadian dollar isn’t bad news for everyone; the long-ailing manufacturing sector is one of the main benefactors. Let’s take a closer look at the situation and some of the advantages and disadvantages of a weaker Canadian dollar.
