Digital Transactions Authoritative, insightful and timely information for payments professionals
The ATM Industry Association met today with members of the Federal Reserve staff to discuss making ATM debit transactions subject to the routing requirements of the Durbin Amendment to the 2010 Dodd-Frank Act. The association, which represents ATM independent sales organizations and other retail deployers, wants the provision because it …
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Trends & Tactics
You Said How Many EMV Cards? The conversion of U.S. magnetic-stripe credit and debit cards to the Europay-MasterCard-Visa (EMV) chip card standard is finally under way, but just how quickly most Americans will be carrying smart cards is a matter of debate. Citing reports from industry suppliers, the EMV Migration …
Read More »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 »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 »Mobile-App Developer Exploits a Growing Market for Virtual Tickets on Mass Transit
Technology continues to drive change in the way riders on America’s mass-transit systems pay fares. While a few agencies have cast their lot with contactless card systems that also accept general-purpose debit and credit cards with contactless chips, other systems are turning to smart phones as add-ons to existing fare …
Read More »EMV Commercial Card Issuers May Herald PIN Dominance With Consumers
It’s still very early in the U.S. smart card game, but so far chip-and-PIN authentication dominates among commercial card issuers, according to new research by First Annapolis Consulting Inc. The findings could signal that chip-and-PIN will beat out chip-and-signature authentication as the United States prepares for broader smart card issuance …
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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 …
Read More »Target Opts for MasterCard’s Chip Technology for All of Its Cards And at the Point of Sale
Target Corp. is making good on its plans to accelerate chip-and-PIN payment card technology in its stores and among its customers with Monday’s announcement that it will move its entire Redcard credit and debit card portfolio to cards that use MasterCard Inc.’s chip-and-PIN technology. Most of Target’s cards, however, will …
Read More »NACHA Unveils Opt-In Program To Reduce Exceptions in ACH Bill Payments
In a further escalation of its war on costly bill-payment exceptions, automated clearing house governing body NACHA on Monday announced a new program that will convert erroneous electronic bill payments that otherwise would go through as paper checks into ACH transactions with a new field where the biller can enter …
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% …
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