Visa Inc., MasterCard Inc. and American Express Co., the biggest U.S. payment networks, proposed changing how consumers shop online by replacing the need for entering account numbers with digital tokens.
Tokens provide an additional layer of security and eliminate the need for merchants, digital wallet operators or others to store account numbers, the companies said Tuesday in a statement. The proposed standard, to be applied worldwide, will be presented to payment firms and industry trade associations in coming weeks, according to the statement.
Etsy, the online marketplace for vintage and handmade goods, is updating its policies to allow sellers to hire staff, use shipping services and apply to have their products made by manufacturers. The company known for everything from crocheted Halloween pumpkins to vintage engagement rings held a webcast on Tuesday for its 1 million active sellers to answer questions.
Chrysler, BMW recalls
• Chrysler is recalling more than 142,000 pickup trucks and SUVs worldwide because of software glitches that could affect instrument cluster lighting and braking systems. Around 132,000 Jeep Grand Cherokee SUVs and 10,800 Ram pickups from the 2014 model year are affected.
• BMW is recalling 176,000 vehicles from the model years 2012 to 2014 over a problem with the power brake system. The company says that in rare cases an interruption in the oil supply to a part can mean the loss of power braking assist. Affected BMW models have four-cylinder, 2-liter gasoline engines and include 125i compacts; 320i and 328i sedans; 520i and 528i sedans; X1 28i, 20i and 16i SUVs; X3 20i and 28i SUVs; and Z4 28i, 20i and 18i sports cars.
The National Toy Hall of Fame in Rochester, N.Y., has narrowed the nominees for its class of 2013. This years finalists are bubbles, chess, Clue, Fisher-Price Little People, little green Army men, the Magic 8 Ball, My Little Pony, Nerf toys, the Pac-Man video game, Teenage Mutant Ninja Turtles, the scooter and the rubber duck. The winners will be announced Nov. 7.
Dish Network Corp. and Walt Disney Co. reached a short-term extension of their programming agreement, averting a blackout of Disney channels, including ESPN and ABC, while the parties negotiate a long-term deal. The details of the extension werent disclosed.
Home prices up
U.S. home prices climbed 12.4 percent in August from a year ago, fueled by more buyers bidding on a limited supply of houses. Real estate provider CoreLogic says prices also increased 0.9 percent in August from July. But the gain was half the 1.8 percent increase in July from June.
Star news services