Issuing/Originating

Visa Inc. on Tuesday reported U.S. EMV chip card statistics for October, the first month in which the payment card networks’ EMV liability shifts for point-of-sale transactions took effect. The numbers show EMV’s footprint is still small, but growing rapidly. There are now 180.6 million Visa-branded chip cards in the …

By John Stewart In the wake of the arrival of EMV chip cards and ahead of the holiday shopping rush, the Shazam debit network has launched a mobile feature that lets cardholders disable their debit cards should they be lost or stolen. While networks like Discover Financial Services have advertised …

Visa Inc. and MasterCard Inc. are shelling out ever more dollars to buy issuer loyalty and induce merchants to route transactions onto their networks. A Digital Transactions News analysis shows the two leading payment card networks are on track to spend approximately $6.75 billon on so-called rebates and incentives in …

Ending months of speculation, Visa Inc. on Monday announced it will buy its European counterpart, London-based Visa Europe Ltd., in a cash, stock, and earn-out deal valued at $23.4 billion. “We’re delighted to be reuniting the Visa family,” said Visa Inc. chief executive Charles W. Scharf in discussing the acquisition …

  A recent Pennsylvania Department of Banking and Securities’ advisory about potentially requiring independent sales organizations and processors to obtain money-transmitter licenses could pose problems for the payments industry. “It’s the wrong execution of the right idea,” Scott Talbott, senior vice president for government affairs at the Electronic Transactions Association, …

JPMorgan Chase & Co. on Monday unveiled its Chase Pay mobile wallet and said the product will begin rolling out in the middle of next year. Chase also said its new wallet will be accepted at merchants belonging to the Merchant Customer Exchange LLC, a retailer-controlled consortium that has been …

Two weeks after what has come to be regarded as the official start date for EMV chip cards in the United States, senior executives with the major card networks gave a largely upbeat progress report to an audience of acquiring-industry owners and managers last Thursday, while acknowledging that much work …

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 …

Another 800-pound gorilla will soon be promoting a digital wallet, only this time it’s not a technology firm. It’s JPMorgan Chase & Co., a world leader in payment card issuance and merchant acquiring. “We’re launching our own wallet. You’ll be hearing a lot more about it,” Mike Passilla, chief executive …

By John Stewart The rise of tokenization into a major payments business helps enable enterprises like Apple Pay and Android Pay but could also pose a threat to the financial institutions that have historically issued the majority of the cards consumers use most often. That threat lies in the fact …