When paying with plastic, why swipe? Just wave

This is great news for those of us who use their card so much that we wear them out.

Also great news that VISA is going to not require signatures for purchases under $25 dollars. I hope this is instituted even without the contactless cards.

For Some, No Purchase Is Too Small For Plastic

Great article regarding the shift in consumer attitude regarding using credit cards for small purchases. The stigma and guilt are going away.

Interesting also how increased use hasn't effected fraud:

"...even without signatures, fraud remains at an all-time low of 5 cents for every $100 spent on Visa cards. The company's research shows that low-value purchases tend not to attract fraud. And even if they did, Visa guarantees its payments to merchants."

The next step is figuring out a way to eliminating merchant reluctance. The dirty looks are still there even if consumers are ignoring them.

Online phishing scam hits UCLA's University CU

Okay it's getting scarier. Now it's getting down to smaller asset CUs too.

Online Banking Growing Rapidly, Survey Finds

This article from the Washington Post seems a bit dated, I think this Pew info came out a few months ago, but it is still encouraging to see it in print...uh online.

The Password Is Fayleyure

This TechnologyReview.com article argues that stronger password protection does nothing to enhance security.

"the logical conclusion of most "strong password” policies—don’t use names of family members or pets; don’t use birthdays or calendar dates; use randomized sequences of special characters; don’t use your password for more than one or two sites; change your passwords several times a year; don’t put your password(s) in your PDA or cell phone—is that passwords should be impossible to remember and should never be written down."

Good point, but what is the alternative? The article mentions ATM passwords are still only 4 digits but fails to mention that they require that physical piece of plastic which waters down his argument.

Phisher poses as State Employees' CU

Here's the first instance I've seen of a phisher targeting a Credit Union. It's starting...