Credit Cards

Lately, the Federal Reserve Board has been shepherding a cross-industry effort to build a faster, more efficient, and more secure payments system in the United States. As that commendable effort heads into its home stretch, one big question stands out glaringly, but has largely gone unaddressed: How much influence should …

The U.S. Supreme Court on Monday heightened the uncertainty surrounding crucial payment card rules and practices by refusing to hear an appeal of a lower-court decision last summer that threw out a $5.7 billion antitrust settlement. The top court’s decision will likely lead to years of continuing litigation and negotiation, …

Payment card maker CPI Card Group Inc. says it will focus on small and mid-size issuers migrating from magnetic stripe cards to cards bearing an EMV chip in 2017 as it contends with a saturating market for the advanced cards. As larger banks and credit unions complete their migration programs, …

The bad news about payments risk just keeps on coming. The Anti-Phishing Working Group Inc. reported this week that phishing attacks reached an all-time high in 2016, totaling 1,220,523. That was up fully 65% over 2015, the group says in its latest quarterly report. Another way to look at the …

By John Stewart @DTPaymentNews Big markets like the United States and China have been boosting EMV chip card shipments for years, but now those two growth engines are sputtering. Worldwide contactless EMV. Currently, most EMV cards in the U.S. market require users to insert the card into a chip reader …

Small merchants that belong to the 109,000-member Canadian Federation of Independent Business will get interchange reductions of 12.5% or more on Mastercard purchases beginning April 3 under a deal announced Thursday by the CFIB and Mastercard Inc. The new rates will be available to CFIB members through all Canadian merchant …

By Jim Daly@DTPaymentNews An investigation by hotel operator InterContinental Hotels Group PLC found malware had been installed on servers that processed payment cards at restaurants and bars in 12 IHG-managed properties, the company said. And a federal appellate court told a lower court to investigate whether the class of customers …

By Jim Daly@DTPaymentNews As the new chief executive of Visa Inc., a company that is still digesting its former European franchisee, Alfred Kelly has had a busy couple of months. Since taking charge from former CEO Charles W. Scharf in December, Kelly has stopped by 12 Visa offices globally, met …

Counterfeiting is still the king of U.S. payment card fraud, according to the Federal Reserve’s recently released Payments Study 2016, but probably not for long thanks in part to the coming of EMV chip cards and the aftereffects of data breaches. Counterfeit fraud accounted for 44% of U.S. payment card …

By John Stewart @DTPaymentNews Payments professionals who suspect fraud is getting significantly worse were confirmed in their suspicions Wednesday with a report indicating identity fraud hit an all-time high in 2016, affecting some 15.4 million U.S. consumers. That’s up nearly 18% from 2015 and represents a one-third increase from the …