How Visa Credit Cards Are Keeping You Safe From Fraud
Stephanie Ericksen, Vice President of Global Risk Products for Visa, explains how the company is stepping up its card security. Despite a series of high profile data breaches, Ericksen says the average consumer is actually very safe.
Ericksen notes 95% of transactions made in the U.S. are now made using chip-enabled cards. Merchants with chip-enabled readers have reported a 66% drop in fraud cases.
Visa is exploring biometric card security, as well. Iris scanning and voice recognition could be card security options in the future. Ericksen also notes 40% of Visa transactions aren't made using a card at all, but instead through Apple Pay.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
