Saturday , November 9, 2024

Search Results for: common aid

Federal Court Issues OK for Multibillion-Dollar Credit Card Interchange Settlement

Capping years of complex litigation, a federal court on Friday approved a controversial multibillion-dollar settlement of a class-action antitrust case challenging credit card interchange rates. With his imprimatur, Judge John Gleeson of the U.S. District Court for the Eastern District of New York has brought apparent—but only apparent—finality to a …

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AmEx’s Third-Party Issuance Program Picks Up Speed With U.S. Bank And Wells on Board

The recent announcement that U.S. Bancorp would issue American Express-branded credit cards brings yet another big domestic bank into American Express Co.’s network of third-party issuers under a strategy AmEx uses to build transaction volume. AmEx had 77 so-called Network Card License (NCL) arrangements with banks worldwide at the end …

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Trends & Tactics: Feeling Insecure? It’s No Wonder

If a recently released annual survey is any indication, small merchants remain unconvinced they are vulnerable to data breaches, pay far too little attention to security, and regard PCI simply as a cost item. “We still see drastic deficiencies in the number of merchants who think they’re at risk,” says …

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Cover Story: Targeting the Traditional POS

By Kevin Woodward With the invasion of smart phones and tablets, the iconic payment terminal—and the entire point of sale—is getting a new look. Are the traditional terminal’s days numbered? Perhaps no other device serves as an icon of the payments industry like the point-of-sale terminal. Sitting on a merchant’s …

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Despite Signs of Progress, Small Merchants Still Lag on Risk Assessment And PCI

Coming on the heels of the release last week by the PCI Security Standards Council of a revised Payment Card Industry data-security standard (PCI) is a report Tuesday that shows how much progress small merchants are making in locking down card data—and how painfully slow much of that progress has …

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The PCI Council Unveils Its ‘User-Friendly’ Version 3.0 of the PCI Security Rules

Better management of passwords and prevention of point-of-sale terminal tampering are just two features of the new Version 3.0 of the Payment Card Industry data-security standard that the PCI Security Standards Council unveiled Thursday. On its surface, Version 3.0 looks much the same as the previous edition, 2.0, which the …

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Security: Peace of Mind: Is It Worthwhile?

Jim Daly Data-breach insurance has become a mainstream product in the merchant-acquiring business, but some executives say PCI compliance and diligent security practices negate the need to buy coverage. What’s next? The unnerving reality that credit and debit card-accepting merchants and their processors can have their computer systems hacked spawned …

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Card Makers Look To Fill Their EMV Dance Card

Peter Lucas Having invested in new equipment, payment card manufacturers are ready to churn out EMV cards by the millions in the U.S. But issuers that wait too long could be caught short. Common in nearly all of the developed world, Europay-MasterCard-Visa (EMV) chip cards have been a long time …

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An Open Letter: Let’s Put a Stop to Criminal Practices in Our Industry—Now!

(An Open Letter to the Electronic Payments Industry) n On October 16, 2013, I delivered a keynote address to the Strategic Leadership Forum of the Electronic Transactions Association (ETA) on my views of the evolution of the payments industry.  At the beginning of this address, I told the audience that …

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Acquiring: Europe’s Card-Fee Conundrum

Karen Epper Hoffman A new proposal from European regulators promises dramatic cuts in interchange revenue. Will these rules encourage even more stringent measures in the States? The United States often looks to Europe for trends in fashion, environmental sustainability, and other concerns. Now the issue is payment card expenses and …

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