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By Kevin Woodward@DTPaymentNews Vantiv Inc.’s
Read More »Vantiv Views Moneris as Key To Growing Integrated Payments Volume
More Than 400 Million Visa Cards Bear EMV Chips As U.S. EMV Acceptance Grows
The total number of Visa Inc. credit and debit cards bearing an EMV chip numbered 408.1 million at the end of December, Visa announced Thursday. That’s a 2.1% increase from the 399.9 million tally at the end of November. Of the total, 219.4 million are debit cards and 188.7 million …
Read More »As Credit Unions Adopt EMV, They Start To See Quick Gains in Fraud Reduction
Credit unions are making fast progress in their rollout of EMV chip cards, according to an update from PSCU, a major payments processor for this segment of the financial-services industry. Some 85% of PSCU’s clients have introduced, or are introducing, EMV credit cards, while the corresponding number for EMV debit …
Read More »Counterfeiting’s Reign As the King of U.S. Payment Fraud Is Coming to an End
The Federal Reserve’s recently released 2016 Payments Study shows that counterfeiting was the biggest type of U.S. card fraud last year. But other types of fraud, especially card-not-present fraud, are rising quickly, thanks in part to the coming of EMV chip cards and the aftereffects of data breaches. The Fed study says counterfeit fraudaccounted …
Read More »Visa Reports More Than 800 Million U.S. EMV Transactions in November
Visa Inc. says its U.S. EMV credit and debit card volume surpassed 800 million transactions in November, more than quadruple the chip volume from a year earlier. November’s transactions on EMV chip cards hit 805.9 million versus 175.6 million in November 2015, a month after the general-purpose card networks’ EMV point-of-sale liability …
Read More »After an Unsteady Start, Debit EMV Shows Steady Progress, a New Report Indicates
When it comes to the U.S. EMV conversion, it seems as if everything has proceeded more slowly than anyone had expected. Merchants have been slow to adopt the chip technology, EMV certifications have been slow in coming, and consumers and merchants alike have even complained about slow transactions. But now, …
Read More »VeriFone’s Galant Says Networks’ EMV Extension for Fuel Pumps Will Hurt Its Results
It’s a double whammy for VeriFone Systems Inc. On Monday, the San Jose, Calif.-based terminal maker said its sales for next year will be “tempered” by a decision by the major payment networks to postpone their deadline for fuel-pump EMV from Oct. 1, 2017 to Oct. 1, 2020. “We were disappointed and …
Read More »Chip Cards Dominate Holiday Shopping So Far, While E-Commerce Gains Spending Share
By Kevin Woodward@DTPaymentNews U.S. shoppers flooded into stores and online this past weekend—Macy’s Web site crashed on Black Friday from the crush—to find holiday gift deals, with many putting their chip cards to use, though e-commerce spending, where the fraud-prevention feature of the chip is immaterial, continues to increase. In …
Read More »Eye on Security: Madison Square Garden Breached; Should Chip Cards’ Mag Stripes Go?
Sports and entertainment venue operator The Madison Square Garden Co. (MSG) on Tuesday disclosed a nearly year-long breach of payment card information involving customers who bought concessions at five of its venerable properties. And a new study from Federal Reserve researchers makes six recommendations for improving mobile-payments security, one of …
Read More »NFC Rising: The Contactless Terminal Base Expands in North America And Globally
By Peter Lucas @DTPaymentNews By the numbers, at least, merchants appear to be paving the way for mobile and contactless payments to become mainstream in the United States. The installed base of terminals ready for near-field communication in the U.S. and Canada is projected to reach 9.2 million by year’s …
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