Digital Transactions Authoritative, insightful and timely information for payments professionals
The U.S. payments industry is counting on EMV chip cards to eliminate much if not all of the counterfeit and lost-and-stolen fraud merchants suffer at the point of sale. They may well do that when EMV is fully deployed, but is it likely that rising e-commerce fraud will swamp any …
Read More »With Small Merchants Lagging, Visa Embarks on EMV Education Tour to Hit Basics
As the U.S. payment card industry migrates to EMV chip cards, there’s one group to which the payments industry needs to pay special attention. Smaller merchants have little awareness of what EMV is and how their businesses will be affected by it. That’s why Visa Inc. set out Friday on …
Read More »EMV Helps Drive VeriFone’s North American Revenues to a Record
Point-of-sale terminal maker VeriFone Systems Inc. continued to ride the U.S. EMV chip card wave in its first quarter of fiscal 2015 as sales of EMV-compliant payment card acceptance systems helped lift North American revenues by 31% to a quarterly record. The San Jose, Calif.-based company late Tuesday reported revenues …
Read More »More Than 70% of Small Merchants Are Unaware of EMV Liability Shift, Survey Finds
By Jim Daly Another sign that the U.S. EMV conversion has a long way to go emerged last week when a survey of more than 990 independent business owners by Newtek Business Services Inc. revealed that 71% of respondents were unaware of the so-called EMV liability shift coming on Oct. …
Read More »Apple Data Indicate U.S. Contactless Payment Locations Have Nearly Tripled
Apple Inc. chief executive Tim Cook said Monday that nearly 700,000 U.S. merchant locations now accept the Apple Pay mobile-payment service, compared with the 220,000 locations reported to have accepted the service when it launched last October. Since Apple Pay relies on near-field communication (NFC) contactless technology to enable Apple’s iPhone …
Read More »For $95 a Year, Stratos Promises Ease of Use as a Consolidated Card Service
Consumers wielding multiple credit and debit cards in their wallets have yet another service to use to consolidate them into one electronic payment card. Stratos Inc. on Tuesday introduced its Stratos Bluetooth Connected Card that enables consumers to load multiple cards onto the electronic device. The card begins shipping …
Read More »With EMV’s Rise, Debit Card Fraud on Canada’s Interac Network Falls to a New Low
Counterfeit fraud on Canada’s Interac debit cards fell 45% to a record low in 2014, and 80% of the fraud happened outside of Canada, according to new figures from Toronto-based Interac Association. The five-year slide in skimming-related fraud coincides with the rise of EMV smart cards in Canada as well …
Read More »Mass EMV Chip Card Issuance Awaits: Survey
The deluge of EMV chip cards for the majority of U.S. consumers has yet to happen, finds a survey by ORC International Inc. In the survey of more than 1,000 U.S. adults, only 26% said they had a chip card. That figure increases slightly among consumers with credit cards, …
Read More »Gemalto Says Spy Operation ‘Probably Happened,’ but Downplays Its Effect
By Digital Transactions News Staff The big SIM and EMV chip manufacturer Gemalto NV on Wednesday acknowledged that an alleged operation by U.S. and British electronic spy agencies targeting the company “probably happened,” but the Amsterdam-based firm downplayed its impact. The alleged operation in 2010 and 2011 by the United …
Read More »Did Spies Secretly Steal Chip Producer Gemalto’s Electronic Keys?
By Digital Transactions News Staff Gemalto NV, one of the largest manufacturers of SIM cards for mobile phones and a key vendor for U.S. payment card producers as the nation converts to the EMV chip card standard, suddenly has found itself in the middle of a spy scandal involving the …
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