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By John Stewart With a crucial deadline looming in 2015, the U.S. payments industry will have only partially converted to the Europay-MasterCard-Visa (EMV) chip card standard by the end of that year. Indeed, it will likely take years to equip small merchants especially to accept EMV, according to a report …
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Shazam, Co-Op and CU24 License Visa’s Identifier for EMV Debit Card Transactions
The Shazam Network on Wednesday reported that it had licensed Visa Inc.’s so-called common application identifier (AID), the third such announcement of a new Visa user in just over a week by a electronic funds transfer network. The additions of Shazam and credit-union networks Co-Op Financial Services and CU24 mean …
Read More »Exposure to Card Fraud Spikes in 2013 As Shift to EMV Looms, AFP Survey Reports
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 from the Association of Financial Professionals. Nonetheless, survey respondents are remarkably optimistic about the Europay-MasterCard-Visa (EMV) chip card standard, with 92% …
Read More »Following Star, Accel, and Pulse, NYCE Selects Visa’s EMV Debit Technology
Debit network NYCE says it will use Visa Inc.’s common application identifier technology on chip debit cards, marking yet another regional debit network’s acceptance of a critical component to enabling Europay-MasterCard-Visa chip card acceptance in the United States. This is NYCE’s first formal EMV license, says Fidelity National Information …
Read More »Bowing to EMV’s Urgency, Accel Adopts MasterCard’s Common Debit Solution
Fiserv Inc. on Wednesday said its Accel debit network will license a critical EMV solution from MasterCard Inc. The move follows a decision by First Data Corp.’s Star network late last month to adopt similar technology from Visa Inc. and indicates the national-brand networks may be winning over the regional …
Read More »Mobile POS Card Reader Makers Prep for the U.S. EMV Switch
With as many as 5 million mobile point-of-sale readers in circulation in the United States, mobile POS companies will have their hands full following the liability shift set for October 2015 when the nation’s payment card networks step up the migration to the Europay-MasterCard-Visa smart card scheme. Designed to …
Read More »EMV Chip Cards and Revenue Streams Worry Independent ATM Deployers
The coming of Europay-MasterCard-Visa (EMV) chip cards along with pressures on interchange and surcharge revenues are the top three concerns of U.S. ATM independent sales organizations and other retail deployers, according to survey results from the ATM Industry Association. The trade group’s annual survey of what’s on its members’ minds …
Read More »As EMV Comes to the U.S. Market, Canada’s NBS Buys Terminal Maker Equinox
Equinox Payments LLC has a new owner. In a bid to strengthen its hand in the market for EMV gear in the United States, NBS Payment Solutions Inc. announced late Thursday it bought the Scottsdale, Ariz.-based payment-terminal maker for an undisclosed amount from the private-equity investment firm Gores Group LLC. …
Read More »Components: EMV: Has Its Day Come?
Jim Daly It’s been two-and-a-half years since a Visa plan marked the unofficial start of the conversion of U.S. card payments to the EMV chip card standard. Will recent data breaches speed up the conversion’s snail’s pace? While still a Congressman, current Chicago mayor and former White House chief of …
Read More »Visa Sticks to EMV Deadline; CEO Decries Data-Breach Blame Game and ‘Misinformation’
Visa Inc. chief executive Charles Scharf on Thursday quelled rumors that the payment network might change its October 2015 liability-shift deadline for Europay-MasterCard-Visa chip card transactions. Scharf also decried what he called “misinformation” and “confusion” about card security following December’s news of Target Corp.’s huge payment card data breach and …
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