Skip to content

This Week in Credit Card News: May 28 – June 3

Updated Sep 09, 2021 | Published Jun 03, 20212 min read

Advertiser Disclosure

Credit Card Insider is an independent, advertising supported website. Credit Card Insider receives compensation from some credit card issuers as advertisers. Advertiser relationships do not affect card ratings or our Editor’s Best Card Picks. Credit Card Insider has not reviewed all available credit card offers in the marketplace. Content is not provided or commissioned by any credit card issuers. Reasonable efforts are made to maintain accurate information, though all credit card information is presented without warranty. When you click on any ‘Apply Now’ button, the most up-to-date terms and conditions, rates, and fee information will be presented by the issuer. Credit Card Insider has partnered with CardRatings for our coverage of credit card products. Credit Card Insider and CardRatings may receive a commission from card issuers. A list of these issuers can be found on our Editorial Guidelines.

At a glance

New welcome bonuses for Southwest credit cards; Visa and American Express boost anti-fraud protections; Apple Card suffers outage on Wednesday; New EMVCo guidelines aim to make contactless payments smoother.

Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines. Terms Apply.

The information related to Southwest Rapid Rewards® Priority Credit Card, Southwest Rapid Rewards® Premier Credit Card, and Southwest Rapid Rewards® Plus Credit Card have been collected by Credit Card Insider and have not been reviewed or provided by the issuer or provider of these products.

New Welcome Bonuses for Southwest Credit Cards (Expired)

Visa and American Express Boost Anti-Fraud Protections

  • Visa and American Express have announced (separately) that they are improving their fraud detection and prevention services.
  • Visa has invested in LoginID, a biometric authentication startup. LoginID allows companies to set up biometric authentication, like facial recognition, for online payment systems and apps.
  • American Express is partnering with three anti-fraud platforms: Microsoft, Accertify, and Riskified. Amex will be linking its own fraud prevention service, Enhanced Authorization, with these companies, to give merchants better tools for detecting online point-of-sale fraud.
  • Learn how to deal with fraud and identity theft when it comes to credit cards.
  • Sources: American Banker, Finextra

Apple Card Suffers 6-Hour Outage On Wednesday Morning (June 2)

  • Cardholders of the Apple Card found themselves unable to use their cards or see card activity on Wednesday morning.
  • According to Apple’s System Status page the day after, the outage lasted from 9:17 a.m. to 3:19 p.m. EST, and: “All users were affected … Users may not have been able to manage their Apple Card, make payments, and may not have seen recent transactions.”
  • The outage may be an unfortunate consequence of Apple’s tech-forward credit card ethos. The Apple Card is managed primarily through the Apple Wallet app.
  • Source: The Verge

New Guidelines Aim to Make Contactless Payments Quicker and Easier

  • EMVCo, an organization that designs standards for EMV chip card technology, has announced new guidelines for contactless payment terminals.
  • The new guidelines specify the addition of “IQ demodulation requirements.” These requirements will allow greater transaction speed and more flexibility in where the payment device can be positioned.
  • These guidelines are a response to an increase in contactless payments, especially via smartphones and wearables. They should speed up the payment process, especially for high-throughput areas like turnstiles for mass transit.
  • Source: EMVCo
Was this helpful?
Written by

Brendan Harkness

Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high-quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.

Do you have a correction, tip, or suggestion for a new post? Contact us here.

The responses below are not provided or commissioned by bank advertisers. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. It is not the bank advertisers' responsibility to ensure all posts are accurate and/or questions are answered.

Scroll to top