Visa Inc. said Wednesday that its fiscal first-quarter profit rose 16 percent, as card use rose both in the U.S. and overseas.
Calling it a major change in the history of California’s unemployment program, the Employment Development Department is now sending out debit cards instead of traditional checks to people receiving unemployment benefits.
Bankers and merchants, pillars of the business world and frequent allies, are embroiled in a bitter lobbying battle over something Americans do 38 billion times a year — swipe their debit cards. Both sides vigorously claim to speak for consumers.
Millions of Americans are replacing their banks and credit cards with prepaid reloadable cards. But many consumer advocates are concerned because of possible fees.
In this ConsumerWatch Wrap, Uncle Sam is making it easier to get your tax refund this year and Apple is making it harder for customers to open up their iPhones.
Most people don’t need more incentive to spend money. But some banks are trying to make it sweeter to spend by offering debit cards that let customers collect points, rewards or cash back.
Merchants would not be allowed to charge customers who pay with a debit card an additional fee under a bill headed to the California Assembly.