Smart Cards

With $21.5 billion in assets, enough to rank it the second-largest credit union in the country, Raleigh, N.C.-based State Employees Credit Union will sustain a substantial loss of debit card interchange income when the Durbin Amendment to the Dodd Frank Act takes effect this summer. But that isn’t stopping the …

The prospect of combining on one contactless card payments for parking and transit fares would seem like a winner for hundreds of thousands of commuters who drive each morning to transit parking lots and then hop on a train or bus to the office. That was one idea floated last …

Visa Inc. on Wednesday said it will relieve merchants outside the U.S. of the requirement to validate compliance with the Payment Card Industry data-security standard (PCI) if the merchants process at least three-quarters of their Visa transactions from chip-enabled terminals. In a busy day at the world’s largest payments network, …

A trade group representing more than 50 major U.S. merchants released a position paper on Monday calling on the payments industry to move resolutely toward mobile payments with near-field communication (NFC) capability and chip-and-PIN technology. The Merchant Advisory Group, based in Dallas, sent the five-page paper to card networks, major …

Gemalto, a maker of payment cards, said on Wednesday it had developed the first credit card that can generate one-time passwords and also function in point-of-sale devices. The product, which the company calls the Ezio card, is immediately available in commercial quantities in the U.S., though so far no domestic …

A year-long conversion of the old fare-collection systems used by monthly-ticket customers of multiple transit agencies in San Diego County, Calif., to a unified system based on contactless cards is nearing completion, a local official tells Digital Transactions News. The new system, from San Diego-based Cubic Transportation Systems Inc., will …

U.S. card issuers are starting to worry about problems some of their high-spending and corporate card customers are having using their magnetic-stripe cards in countries that support the chip-and-PIN standard, according to executives who spoke on Tuesday at a smart card conference. Whereas the issue hardly seemed apparent only a …

Payment card processing glitches struck in the U.S., Germany, and Australia over the past week. Although full details about them still aren't known, the foreign ones apparently involved applications that couldn't properly handle the change in year on Jan. 1?problems eerily reminiscent of those predicted in the late 1990s during …

Canada's Interac Association debit network is teaming with France-based semiconductor manufacturer Inside Contactless in a partnership that will include a test next year that will pair PIN-based debit cards with contactless payments. But to keep transactions moving quickly, cardholders will not need to enter a PIN. The test will be …

Recent U.S Department of Justice demands for documentation about the payment card networks' acceptance rules have the merchant-acquiring industry wondering if the networks are in for another confrontation with antitrust authorities. If so, the issue will involve how much freedom card-accepting merchants should have to seek other forms of payment …