Nov 19, 2019

American Express pays businesses to catch up to Visa and Mastercard

Photo: Andrew Matthews/PA Images/Getty Images

American Express is paying as much as $450,000 to businesses to entice them to take its cards, the Wall Street Journal reports.

Between the lines: "Amex has long lagged behind Visa and Mastercard in the race for American businesses," as it opted for well-heeled customers rather than mass-market appeal, the story notes.

  • That strategy is changing as Amex looks to make good on a promise to investors to catch up to its competitors — which have pulled in big spenders with generous rewards cards — by the end of this year.
  • As of 2018, "Visa and Mastercard were accepted in some 1.3 million more U.S. locations than Amex, which had 10.3 million locations," according to the research from the Nilson Report cited by WSJ.

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The states having the most trouble with credit card debt

Reproduced from CreditCards.com; Table: Axios Visuals

Americans living in Southern states will have the hardest time getting out of credit card debt, according to a CreditCards.com report that compares credit card debts and household incomes.

The state of play: Nine of the 10 highest credit card debt burdens are in the South, though New Mexico holds the top spot.

Go deeperArrowDec 4, 2019

Macy's notifies online customers of potential credit card hack

Photo: Alastair Pike/AFP/Getty Images

Some customers using credit cards for online purchases at Macy's in October may have had credit card information stolen, according to a notification message sent to impacted customers posted by the news site BleepingComputer.

Driving the news: According to the notification letter, hackers injected code onto the Macy's website that would steal newly inputted credit card information. The code was active between Oct. 7 and Oct. 15.

Keep ReadingArrowNov 19, 2019

U.S. businesses have more debt than American households

Data: Federal Reserve; Chart: Axios Visuals

U.S. businesses now have more debt than American households, according to data released by the Fed on Thursday.

Why it matters: It’s the first time corporate borrowing levels has clipped that of households in 28 years and "a potential warning sign for the economy as corporate investment softens," Bloomberg reports.

Go deeperArrowDec 13, 2019