Digital Transactions Authoritative, insightful and timely information for payments professionals
UniRush LLC’s RushCard declared a four-month fee holiday over the weekend after a glitch during the prepaid card’s switch to a new processor that began Oct. 11 limited access to an undisclosed but apparently large number of customers’ accounts. Cincinnati-based UniRush did not identify the processor. The glitch apparently started …
Read More »Diebold in Talks To By German ATM Maker Wincor Nixdorf for $1.8 Billion
Diebold Inc., the second-largest U.S.-based ATM manufacturer after NCR Corp., disclosed over the weekend that it is in discussions to buy Paderborn, Germany-based ATM maker Wincor Nixdorf AG. North Canton, Ohio-based Diebold issued a statement Saturday confirming that it has a non-binding agreement with Wincor Nixdorf “regarding the key parameters of …
Read More »Gemalto Brings Its ‘Dynamic Code Verification’ To the Fight Against Card-Not-Present Fraud
With the coming of EMV chip card payments to the U.S. point of sale on Oct. 1, merchants, merchant acquirers and credit and debit card issuers are bracing for an expected boom in card-not-present (CNP) fraud. Countless processors, payment gateways and tech companies have announced products and services meant to …
Read More »The ABA Says the FBI Was ‘Receptive To Getting It Right’ About PINs and EMV Cards
The American Bankers Association seems to have persuaded the Federal Bureau of Investigation to do something the Bureau rarely ever does, at least in public: change its mind. The FBI’s original position was the consumers should enter a personal identification number whenever possible when using their new EMV chip cards. …
Read More »FBI Notice Warning Consumers To Use PINs With EMV Cards Gone; ABA Protest the Cause?
A public service announcement the FBI posted Thursday warning consumers that the new EMV chip cards “are vulnerable to exploitation by fraudsters” and urging them to enter a PIN instead of a signature during EMV credit card transactions was removed Friday, apparently at the behest of the leading banker trade …
Read More »Why a Regional Bank Is Going With Chip-And-PIN for Its EMV Credit Cards
By Jim Daly They’re few and far between, but another U.S. issuer, regional banking company First Niagara Financial Group Inc., has committed itself to issuing EMV credit cards of the chip-and-PIN variety. Buffalo, N.Y.-based First Niagara announced just before the U.S. EMV liability shift took effect that it will convert …
Read More »Fraud-Weary Europeans Look Forward to the U.S. EMV Liability Shift
Stolen European payment card numbers and related data are popular imports in the U.S. black market, which is why European bankers, merchants and data-protection executives are looking forward to America’s EMV chip card liability shift that takes effect Thursday. That’s the word from Jeremy King, international director of the Wakefield, …
Read More »In Its Early Going, Apple’s Watch Appears To Be Giving a Modest Lift to Apple Pay
By Jim Daly Ask owners of Apple Inc.’s new Apple Watch what they like about their high-tech wearable, and they put notifications and Apple’s health-and-fitness monitoring app at the top of the list. Coming in at No. 7 of their likes is the Apple Pay mobile-payments service, according to new …
Read More »America: Visa’s Unlikely EMV Leader
Americans like to say their country is No. 1. Now, according to Visa Inc., America is No. 1 in a most unlikely category: EMV chip cards. According to figures Visa released Tuesday, some 141.9 million EMV credit and debit Visa cards were in issue in the U.S. as of August, …
Read More »Card Manufacturer’s IPO Filing Opens a Window Into the U.S. EMV Conversion
The conversion of U.S. general-purpose payment cards to the EMV chip card standard is providing windfalls for all sorts of card-industry vendors. A new example comes from the big plastic card manufacturer CPI Card Group Inc., which has filed for a possible initial public offering of stock. EMV cards accounted …
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