Digital Transactions Authoritative, insightful and timely information for payments professionals
Jim Daly For a time, it seemed like open-fare contactless smart cards might take over payments on America’s buses, subways, and commuter trains, but then along came smart phones and EMV. The only thing that moves slower than a bus stuck in a 5:00 p.m. traffic jam is the process …
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Cover Story: I Want You For EMV
The U.S. is in the throes of adopting chip cards, but the immensity and complexity of its payment card industry ensures the migration to chip cards is no easy task. The biggest issue is getting all merchants on board. By Kevin Woodward Naiveté is not a trait payment card industry …
Read More »Spurred by Fraud and Fear, Debit Card Issuers Cast Aside Their EMV Reservations
Nothing like a good data breach to serve as a kick in the pants. Thanks in part to Target Corp.’s breach that compromised 40 million payment cards, debit card issuers are committing themselves to the Europay-MasterCard-Visa (EMV) chip card standard to a much greater extent than they did a year …
Read More »Estimates Vary, But There’s No Doubt: EMV Cards Soon Will Be in Millions More Wallets
The conversion of U.S. magnetic-stripe credit and debit cards to the Europay-MasterCard-Visa (EMV) chip card standard is about to shift into high gear, and the payments forecasters are busier than their counterparts at The Weather Channel just before a hurricane’s landfall. The EMV Migration Forum, an affiliate of the Princeton …
Read More »EMV Acceptance Likely To Get A Boost When Walmart Chip Cards Begin Showing Up
The debut this summer and later in the year of chip cards for cardholders of Walmart and Sam’s Club branded credit cards likely will spur other retailers to accept the new payment card technology. That’s the finding from a Digital Transactions News survey that asks if the issuance of …
Read More »Acquiring: Congress Sees a Need To ‘Do Something’ About Data Security
Jim Daly Has the U.S. payment card industry invited federal regulation by taking so long to replace the magnetic stripe? The massive data breach at Target Corp. as well as other cyber thefts at national retailers disclosed over the past six months have raised the unwelcome possibility among merchant acquirers, …
Read More »Cover Story: NFC’s Cloudburst
Near-field communication for payments has floundered for years. Now, host card emulation promises to revive it by cutting out the mobile carrier. By John Stewart If zoologists studied payments critters, they would be astounded at the gestation period of near-field communication. Here is a powerful technology that has languished in …
Read More »Veteran ‘Payments Guys’ Create Bitnet to Ease Bitcoin Acceptance for Large Merchants
Bitcoin may remain volatile and controversial, but the digital currency holds enough potential that it is starting to attract seasoned payments professionals, particularly in the business of merchant acceptance. Witness Bitnet, founded in January by a pair of former executives with payments processor CyberSource Corp. to make it easier for …
Read More »The Gimlet Eye: The Next Chapter for NFC
All of a sudden, near-field communication is back on payments executives’ to-do lists. Executives are said to be examining the technology more seriously than ever, and the major payment networks are officially endorsing a version of it with detailed specifications. This after long years during which NFC was almost given …
Read More »Trends & Tactics
EMV Will Crush Card Fraud, Survey Says It’s bad news, and maybe good news, for businesses accepting credit and debit cards. Some 43% of businesses report they were exposed to card fraud in 2013, a whopping rise of 14 percentage points from 2012, according to the latest annual fraud survey …
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