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The message about EMV and its payment-processing benefits is not sinking in with smaller merchants. That’s the assessment from Heartland Payment Systems Inc.’s chief executive Robert O. Carr, who says Heartland is responding by offering all-in-one security technology that includes but goes beyond EMV. “Well, resonating would be an overstatement,” …
Read More »Retailers Eye EMV as a Near-Term Reason for POS System Upgrades
Retailers will take their time upgrading their point-of-sale systems for compatibility with the EMV chip card standards, finds EKN Research’s “2015 Retail Point-of-Sale Blueprint” report. Only a minority of retailers—mostly the largest ones—will be ready by Oct. 1, though within two years 70% of them will be ready for the …
Read More »Small Merchants in No Rush To Migrate to EMV: Survey
As the U.S. payment card industry continues its monumental shift to EMV chip card technology, one group of merchants will lag. More than 70% of small merchants will not be EMV compliant by Oct. 1, the date the card networks have set to shift liability for point-of-sale fraud to …
Read More »The PCI Council Publishes Tokenization Guidance and Looks Forward to EMV
By Jim Daly With the U.S. payment card industry’s eyes glued on the coming of EMV chip cards, the main standards body for card security is trying to remind merchant acquirers, merchants, and card issuers that there is more to security than simply embedding a chip into a piece of …
Read More »Eye on Acquiring: EMV Chip Card Acceptance on the Mind
As Transact 15, the Electronic Transactions Association’s annual conference held this year in San Francisco gets under way, acquiring industry vendors and companies are releasing a bevy of news. Among the vendors making announcements is Clearent LLC, a payment-services company based in Clayton, Mo. Clearent says it will resell CardFlight …
Read More »While EMV And Mobile Captivate the Industry, Big Retailers Express Frustrations
By John Stewart EMV chip cards and mobile payments may be two abiding passions of the payments industry these days, but major merchants are far from sold on either technology, judging by comments from a number of them Tuesday at a payments-technology conference. Most big retailers are gearing up for …
Read More »EMV Cards and Terminals Have a Small but Fast-Growing Foothold, Visa Reports
Visa Inc.’s U.S. payment card issuers had about 48 million EMV chip cards in the market as of Dec. 31, a Visa executive said Wednesday. And, somewhat surprisingly, about 80% of the small number of U.S. EMV transactions today are coming from small merchants rather than big retailers, which are …
Read More »As EMV Deadline Nears, CardFlight Preps a Mobile Reader for Chip And Signature
Mobile point-of-sale service developer CardFlight Inc. will make an EMV chip card-compatible mobile POS reader available in the second quarter, in anticipation of the Oct. 1 liability shift. That’s the date card fraud at the point of sale is scheduled to shift to the party least prepared for it. The …
Read More »Corporate Treasurers Report a Rise in Attempted Wire-Transfer Fraud; Favor Chip-and-PIN
A near-doubling of attempted wire-transfer fraud and strong corporate support for the chip-and-PIN variety of EMV card payments are among the highlights of the latest payments-fraud study from the Association for Financial Professionals. The recently released study by the Bethesda, Md.-based AFP, an association of corporate treasury managers and finance …
Read More »Eye on Risk: CyberSource Offers ‘What-If’ Tool; How Mobile Affects Fraud
Merchants face relentless and ever-changing attempts to make fraudulent online transactions, but measuring the effectiveness of rules in place to counter those attempts takes time. Now, CyberSource, a unit of Visa Inc., is offering a service called Decision Manager Replay that lets merchants test various anti-fraud measures for online transactions …
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