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Consumers this fall will begin to dip a lot of EMV credit cards into EMV-compatible point-of-sale terminals, but not so many EMV debit cards. That’s the assessment from Mercator Advisory Group Inc. in its “Prediction for the U.S. Migration to EMV Debit Cards” report released last week. By Oct. 1, …
Read More »VeriFone’s North American Revenues Jump 54%, but Top Brass Insists It’s Not All EMV
Sales in VeriFone Systems Inc.’s North America region jumped 54% in the quarter ended April 30 to $193 million from $125.3 million a year earlier, the payment-processing equipment maker reported Thursday. The big driver was the conversion of U.S. merchants’ point-of-sale terminals ahead of an October deadline for the devices …
Read More »Payments Executives See Mobile Wallets as Disruptive, but Also as Opportunities
Carrying out business as usual is becoming harder to do as the payments business tries to adapt to new technologies. Asked at a recent San Francisco conference about what are the most disruptive trends in payments, 40% of industry professionals and alternative-finance executives polled cited the proliferation of mobile-wallet use …
Read More »EMV Could Spell T-R-O-U-B-L-E for Card-Not-Present Merchants
Lost and stolen credit and debit cards equipped with EMV chips may become the bane of e-commerce merchants. As the U.S. payment-card industry begins its gargantuan migration to smart cards, counterfeit fraud at the point of sale should decrease. But fraud in other places very likely will increase. That’s …
Read More »Restaurants Most Likely To Adopt Mobile Payments, Consumers Say in a Survey
Consumers expect restaurants to be the top merchant type to adopt mobile payments, especially as they envision it simplifying the payment process. That’s the finding of a survey from independent sales organization Harbortouch Payments LLC, which also products point-of-sale products for restaurants and other merchants. In the survey of 1,000 …
Read More »EMV for Small Merchants Is a Hard Sell, But It’s Easier With The Right Approach
Selling payments services to small merchants is never easy. Now, throw in EMV and its attendant complications, add in merchant ignorance of the technology, and the sales pitch gets more complex. With the impending liability shift set for Oct. 1, independent sales organizations, acquirers, processors, and banks are scrambling to …
Read More »Security, Costs Weigh on Issuers as They Ponder Their EMV-Issuing Strategies: Report
Payment card issuers considering the conversion of their credit and debit cards from magnetic stripes to EMV chip cards need to consider not only the cost, but the security and reputational factors of doing so, says Computer Services Inc., a banking-services company. In its new “The Road to U.S. …
Read More »Chase Begins Issuing EMV Debit Cards, Expects To Reach 70% of Cardholders by Year’s End
Banking giant JP Morgan Chase & Co. has begun issuing EMV debit cards, with plans to convert its entire debit card portfolio of 34 million cards to chip by the end of 2016, Chase announced Tuesday. Chase began testing chip-enabled debit card issuance in Arizona and Illinois two months …
Read More »Forecast Indicates 800 Million U.S. Cards Could Have EMV Chips by Year’s End
By Jim Daly U.S. credit and debit card issuers will have about 150 million more EMV chip cards in circulation by year’s end than predicted last summer, according to the latest forecast from an industry group promoting the conversion of U.S. card payments to smart cards. The Payments Security Task …
Read More »TMS Alters Agent Compensation Plan As Part of a Push to Leverage EMV And NFC
Independent sales organization Total Merchant Services Inc. hopes a newly altered agent-compensation plan will result in more merchants using EMV-compatible point-of-sale terminals. The U.S. payment card industry is migrating to EMV chip cards, requiring that merchants use compatible terminals. As a way to motivate its sales agents and get more …
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