Consumers Prefer Debit Cards Over Credit Cards?

Mari H. — Tue, 30 Jun 2009 14:22:23 +0000

To my surprise Visa Inc is reporting that US consumers are using their debit cards more than their credit cards. I find this surprising because it seems for years and years consumers have been using more and more credit cards, and getting more and more in debt. The debit card however is a new facet of spending in the fact that it utilizes money you have, not money you don’t have. However, any time you purchase something online you are advised to use your credit card because of the fraud protection policy. Does this mean the fraud policy is not the same on your debt card as the credit card? It seems not, but why is that? NPR.org goes on to point out that these two cards are very different if the cards are stolen. Why would laws be so different for something very much used in a similar fashion? In reality, credit cards are worse to use for the consumer, so why is there more protection to the consumer? Credit cards cause more long term damage such as having to then look to consolidate or settle debts, or even file bankruptcy. Maybe the banks should look at becoming more uniform with what the credit card companies are doing to protect their clients….
Then again, do the banks make any money on debit card purchases… they certainly do with the credit card purchases.

Internet Fraud Numbers Up For 2008

Mari H. — Wed, 08 Apr 2009 14:29:21 +0000

We all purchase items, do online banking, pay our bills, apply for credit and all sorts of other tasks each day through the internet. Companies like ours work with trying to connect those on the intenet looking for services, with those that can provide that service. Unfortunately, no one, including Leadpile Lead Exchange, is 100% safe from online fraud activity. According to internet news,“Sophisticated computer fraud schemes continue to flourish as financial data migrates to the Internet.” It appears a lot of this increased fraud is directly related to the e-commerce industry. Everyone and anyone is buying their products online while supplying their credit card information. Groups such as The Internet Crime Complaint Center (IC3) partner up with agencies such as the FBI to help monitor internet fraud. However, 2008 saw a 33% spike in the the number of complaints received versus the year before.
We all know the internet is the wave of the future, but how are we all going to maintain consumer safety with such a massive conglomerate as the internet? Is there really a way to be totally safe on the internet? Sadly, fraud is not the only issue the internet is dealing with. Children and young adults are using the internet as a means of socializing and even “bullying”/harassing others. I am thinking schools will need to incorporate internet communication skills and proper etiquette to help with teaching children proper ways to utilize the internet. This might help prevent some of the fraud and other problems the internet is facing. Educate kids at a young age to help define the future of the internet.

Leadpile's Blog» fraud

Consumers Prefer Debit Cards Over Credit Cards?

Internet Fraud Numbers Up For 2008