Hackers selling a batch of 50-100 credit card numbers can get $250.000 – $1 million. A buyer can make $2 million – $8 million using these stolen card numbers. As for the risks, the deal is riskier for the buyer than the seller. The data was provided by a research team led by Thomas Holt, a criminologist at Michigan State University.
When it comes to gift card exchanges, you can buy them at discounts on online marketplaces and pay for holiday gifts. According to Raise, the world’s largest gift card marketplace, consumers are going to save over $40 million during this holiday season thanks to discounted gift cards offered by its platform.
The amount you can save is based on how popular the brand is. The more popular the merchant, the lower the discount. Merchants looking for a reliable and secure merchant account should consider turning to emerchantbroker.com. EMB is voted the #1 high risk payment processor in the US and has an A+ rating with the BBB. EMB is one of Inc 500’s Fastest Growing Companies of 2016 and is rated “A” by Card Payment Options.
While talking about cards, it is important to note that Mastercard is going to use artificial intelligence in its global network, thus making transaction approval more effective. The service is called Decision Intelligence. It uses artificial intelligence to learn from each transaction under monitoring. The company aims to provide a high level of security and minimize the number of transactions wrongly declined. The service focuses on examining how a specific account can be used to discover normal/abnormal shopping spending experience.
The federal government is going to raise the allowable limit regarding some credit card late fees. American Express will require higher fees for late payments so you’d better make your payments on time. In January, AmEx will start charging customers $38 if they make more than one late payment in a 6-month period. Previously, it was $37. This will be maximum allowed limit under the Consumer Financial Protection Bureau’s updated guidelines.