Consumers have long been able to make payments by phone and more recently, by mobile phone. The emergence and eventual widespread adoption of electronic payment methods has dramatically changed the payments landscape. Convenience should not give way to statutory and regulatory consumer protections.
- Gift Cards: Consumer Tips for the 2012 HolidaySeason
Gift cards continue to be a very popular gift giving solution. Before you buy or receive a gift card this holiday season, be sure you know which protections apply to your card, as they may vary depending on the type of card you buy.
- CU Testifies Before House Financial Services Committee on Mobile Payments
Testimony of Suzanne Martindale Staff Attorney Consumers Union of U.S., Inc. on The Future of Money: How Mobile Payments Could Change Financial Services before the Committee On Financial Services Subcommittee On Financial Institutions And Consumer Credit March 22, 2012 Chairman Capito, Ranking Member Continue Reading
- Pay at Your Risk? How to Make Every Way to Pay Safe for Mobile Payments
Consumers today have a bewildering number of choices when it comes to paying for goods and services
- How Top Wireless Carriers Compare on Consumer Protections For Mobile Payments
How Top Wireless Carriers Compare on Consumer Protections For Mobile Payments Most cell phone and tablet users can currently make mobile payments charged to a prepaid phone account or their monthly bill. But when consumers use these payment options, they may not get the protections they need to limit their financial liability if something goes Continue Reading
- Mobile payments tip sheet: What can consumers do now
WHAT CAN CONSUMERS DO NOW TIP SHEET Link Your Mobile Payment to a Credit Card for the Strongest Consumer Protection If you link your mobile payment to a credit card, you will have the most consumer protections. • Limited liability for unauthorized transactions: Under federal law, you are only on the hook for up to Continue Reading
- Report: Mobile payments could be risky for consumers
CU report highlights how protections vary widely when consumers pay with their mobile phones
- New CU Article: How to Make Every Way to Pay Safe for Mobile Payments
Read a draft of our new article discussing the mobile payments market, the major risks it poses for consumers, and the few simple fixes that would ensure all consumers making mobile payments have guaranteed consumer protections.
- Mobile Payments: Issues for Consumers
CU’s presentation at the University of Washington, Oct.29, 2010
- New Rip-offs
Have you been ripped off by unfair lending or financial practices?
- Consumers Union’s Tips for Mobile Payments Users
Consumers Union’s Tips for Mobile Payments Users Mobile payments, or cell phone payment applications, are becoming more popular. Meanwhile, consumer protections have not yet kept up with technology. It pays to know what types of protections you may or may not have. Protections vary widely, depending on how you link the payment method: Linked to Continue Reading
- Consumer protections lacking for mobile payments
Consumers Union finds protections fall short when mobile payments are linked to phone accounts
- T-Mobile’s mobile payment plan risky for consumers
eless carrier’s direct carrier billing program not covered by protections against fraud and mistakes
- Emerging Mobile Payment Methods Could Pose Financial Risk to Consumers
Consumers Union calls on wireless carriers to protect consumers
- Mobile payments could leave consumers at risk
CU calls on regulators to require mobile payment providers to abide by strong consumer protections
- CU applauds effort to restrain abusive credit card practices as a strong first step
The agencies have issued proposed rules that would restrict when and how the credit card companies can raise interest rates and assess fees.
- CFPB Sues Sprint for Mobile “Cramming” Charges
Sprint customers, rejoice: if you’ve been getting annoying little charges on your mobile phone bill, for stuff you didn’t ask for, you may be getting relief. Today, the Consumer Financial Protection Bureau (CFPB) announced that it’s suing Sprint for illegally billing wireless consumers tens of millions of dollars in unauthorized third-party charges. According to the Continue Reading
- AmEx Initiative Is Trying To Make Mobile Payments More Secure
American Express today announced the creation of American Express Token Service, to help card issuers, retailers and others in payments to support tokenization, a more secure mobile payment technology. In payments, a token is a bunch of numbers that stand in for a consumer’s payment account information. When tokenization is in place, the token – Continue Reading
- Mobile Financial Services Show Promise, But Consumers Need To Be Assured Of Protections, CU Says In Comments
Mobile financial services may provide consumers lower-cost, more convenient ways to manage their money but lawmakers, industry and regulators need to step-up to ensure adequate consumer protections, we told the Consumer Financial Protection Bureau (CFPB) in response to the CFPB’s Request for Information Regarding the Use of Mobile Financial Services by Consumers and Its Potential Continue Reading
- Outsmarting Thieves: Cutting Theft with a Smartphone Kill Switch
Smartphone thefts are out of control. According to San Francisco’s District Attorney, such theft is a major problem in big cities—over fifty percent of the robberies committed in San Francisco, for example, are of mobile devices. How to remedy this? If you want to outsmart a thief, you have to think like one. How do Continue Reading
- A Selfie for Your Checks? What You Should Know about Remote Deposit Capture
by guest blogger Caitlin Watkins Too busy to go to the bank? Hate waiting in lines? I sure do. That’s why I tried Mobile Remote Deposit Capture (mRDC), which is basically like taking a selfie of all of your checks to be deposited straight to your bank account or prepaid card. Awesome, right? Even the Continue Reading
- Why The CFPB Is The Best Thing To Happen To Americans Since J.Law
Jennifer Lawrence is pretty awesome, right? For several years now she’s excelled at playing characters that excite the American imagination- they’re young, vibrant, and struggle against difficult odds or crafty opponents. The Consumer Finance Protection Bureau (CFPB) is also young, rather vibrant, and also goes to battle with powerful forces but, despite all this, the Continue Reading
- Transaction Monitoring and Credit Monitoring in Light of the Target Breach
Target has begun to offer security breach victims free credit monitoring for a year now that approximately 110 million Americans may have had their data compromised due to a security breach. We’ve advised consumers to conduct regular transaction monitoring to prevent fraud, and now some consumers have been asking us, “What’s the difference between transaction Continue Reading
- NEW PROTECTIONS COMING FOR CONSUMERS WHO SEND MONEY ABROAD
by guest blogger Caitlin Watkins The long wait is over. Starting OCTOBER 28, 2013 consumers in the U.S. will have important new rights when they send money to friends and family in other countries. The Consumer Financial Protection Bureau (CFPB) has new rules that protect consumers sending international money transfers, called “remittances,” so that they Continue Reading
- Mobile Payments: The New Reality?
by guest blogger Tara Thwin-Paljor 244.2 million people are projected to use mobile pay this year, according to Gartner, up from 200.8 million in 2012. It seems that more and more consumers see the appeal of using their phone to pay for a range of services. If you’ve been keeping up-to-date on mobile payments news, you’ll Continue Reading
- 2013: a pivotal year for mobile payments?
Forrester Research has projected that by 2017, mobile payments in the US will reach $90 billion. And in looking at the near future, one of their analyst’s blog states; “Mobile payment and digital wallet providers face significant hurdles to achieving adoption at scale, and 2013 will be a pivotal year in that quest.” There has Continue Reading