Wednesday , April 1, 2020

Smart Cards

SMBs Expect Further Demand Drop and other Digital Transactions News briefs from 3/25/20

A national survey of 850 small businesses found 69% have seen a “large drop” in demand because of the coronavirus pandemic, while 60% say they believe demand will drop further. The survey was conducted by America’s Small Business Development Centers and Thryv Inc., a software vendor specializing in small businesses.The U.S. Faster Payments …

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Dual-Interface Chip Card Sales Lift CPI Card Group

As the payments industry reeled Monday morning during yet another wild session on Wall Street, card manufacturer CPI Card Group Inc. provided a glimmer of hopeful news when it reported improving financials thanks in part to growing sales of dual-interface cards. Littleton, Colo. based CPI said fourth-quarter sales in its …

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How the Coronavirus Scare Is Leading Some Experts to Look for a Boost in Contactless Payments

The global coronavirus scare has prompted a number of warnings that could end up benefiting electronic payments, particularly contactless transactions. Authorities ranging from the World Health Organization to doctors in local practices have warned this week about the risks of handling paper currency, and some have also cautioned against touching …

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Visa Says Fuel-Pump EMV Upgrades Are ‘Doing Pretty Well,’ But Others Are Skeptical

With just over seven months to go before a crucial liability shift, just how well is the conversion of U.S. gasoline pumps to accept EMV chip cards going? It depends on whom you ask. Visa Inc. says it’s progressing nicely. “I think we’re actually doing pretty well,” Julie Scharff, Visa’s …

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Visa Gets a Lift From E-Commerce, Contactless Payments, and Tokenization

Improved online payments, tokenization, and contactless transactions all gained ground in 2019’s last three months for Visa Inc. as the network’s payment volume grew 8% year-over-year. Visa reported total U.S. payment volume of $1.06 trillion in its first quarter of fiscal 2020 ended Dec. 31, a 7.8% increase from $980 …

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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 …

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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.  …

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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 …

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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 …

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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 …

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