Saturday , January 18, 2020

Smart Cards

Consumers Are Satisfied Making Contactless Payments, But Security Concerns Linger

Even though contactless credit and debit card transactions made by tapping a card against a point-of-sale device rely on the same standard as EMV dipped transactions, consumers have different impressions of the security benefits, a newly released study says. Indeed, 81% of the 1,350 consumers surveyed for the “Emerging Trends at …

Read More »

Point-of-Sale Chip Transactions Exceeded Non-Chip Payments in 2018, Fed Data Show

Chip-based transactions at the point of sale totaled more than non-chip payments for the first time in 2018, just three years after the United States began in earnest to convert payment cards and point-of-sale devices to the EMV chip standard, according to the latest Federal Reserve Payments Study, released Thursday.  …

Read More »

Software Availability Proves To Be a Drag on Fuel-Pump EMV Upgrades

Upgrading gas pumps to accept EMV chip cards is a complex affair for convenience stores and gas stations that involves installing new card-reading hardware and software, testing, and certifications. Many fuel retailers are expected to miss next October’s automated fuel-dispenser liability shift, and software is proving to be one of …

Read More »

Big-Ticket Rejection and other Digital Transactions News briefs from 12/17/19

LexisNexis Risk Solutions released an analysis of transactions and cyberattacks between Nov. 27 and Dec. 3 that found the average shopping cart value rejected as high risk or fraudulent was $329, or 179% higher than the value of legitimate online transactions—$118—in the period.Juniper Research’s latest report forecasts that the installed base of contactless-enabled …

Read More »

Bill Ready Going to Google and other Digital Transactions News briefs from 12/12/19

Departing PayPal Holdings Inc. chief operating officer Bill Ready in January will assume the role of head of commerce at Alphabet Inc.’s Google unit, TechCrunch reported. PayPal announced in June that he would leave the company at year’s end. Ready came to PayPal in 2013 as a result of the company’s $800-million …

Read More »

New York Straphangers Give Contactless Payments a Boost

The New York City area’s Metropolitan Transportation Authority on Wednesday activated 96 contactless card readers in Manhattan’s Penn Station, one of the nation’s busiest transit hubs, in its quest to accept contactless payment cards and mobile-payment apps across its vast subway and bus system by the end of next year. …

Read More »

Stolen Card Data Shows up in Joker’s Stash and other Digital Transactions News briefs from 11/27/19

Customer data from 4 million payment cards stolen in breaches at four restaurant chains has gone up for sale in the Joker’s Stash underground bazaar, KrebsOnSecurity reported. The breaches occurred at nearly half the 1,750 total locations of Krystal, Moe’s Southwest Grill, McAlister’s Deli and Schlotzsky’s, the latter three of which are owned by …

Read More »

20 European Banks Challenging Card Networks and other Digital Transactions News briefs from 11/6/19

Twenty European banks are working on setting up a pan-European payment system to challenge Visa, Mastercard and technology companies such as Google and PayPal, according to press reports. The project is code-named PEPSI, for Pan European Payment System Initiative.In a development that signals an opening in China’s long-protected payments environment, Chinese mobile-payment giants …

Read More »

Eye on Acquisitions: Mastercard Buying Loyalty Platform Provider; Visa Completes Rambus Deal

The bank card networks lengthened their 2019 streak of merger-and-acquisition activity on Tuesday with Mastercard Inc. announcing it has a deal to acquire marketing software developer SessionM and Visa Inc. reporting it completed its acquisition of Rambus Inc.’s token services and ticketing businesses. Mastercard said the addition of SessionM will enhance …

Read More »

With Momentum From Transit, Contactless Accounts for a Rising Share of Card Payments

With card-based transit payments picking up steam in the United States, a key Mastercard Inc. executive said Thursday that 22% of the network’s physical-world transactions globally were contactless as of the end of 2018. The time to complete a contactless transaction is down to 0.4 seconds, added Ajay Bhalla, president …

Read More »
Do NOT follow this link or you will be banned from the site!