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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 »Pulse Deal Gives Visa’s Common AID Nearly Universal Enablement for Chip Debit Transactions
Discover Financial Service’s Pulse subsidiary last week became the latest debit network to license Visa Inc.’s so-called common application identifier (AID) on soon-to-be-issued Europay-MasterCard-Visa (EMV) chip debit cards. This latest agreement means Visa’s common AID will be enabled on cards that account for nearly 90% of U.S. PIN-debit transactions. The …
Read More »Target Clarifies Number of Consumers Affected by Breach, Claims Data Security Improving
Target Corp. told a U.S. Senate committee Wednesday that the overlap in the number of consumers affected by the two-headed monster of its data breach may be 12 million or more. The nation’s No. 2 general retailer also said it is improving its data security in the wake of the …
Read More »Fiserv’s Accel Debit Network Now Supports Visa’s Common AID in Addition to MasterCard’s
Hard on the heels of its announcement last week that it will support MasterCard Inc.’s so-called common application identifier (AID) on chip debit cards, processor Fiserv Inc. followed up on Monday by disclosing that its Accel network also will support Visa Inc.’s AID. The news means that Accel is the …
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 »Look Within Thyself for the Most Effective Fraud-Prevention Solutions, Some Merchants Say
The coming of Europay-MasterCard-Visa (EMV) chip cards to the U.S. has many American merchants worried about the inevitable shift of credit and debit card fraud from the point of sale to online channels. EMV cards, while highly effective in thwarting counterfeiting and related card-present fraud, offer no more fraud protection …
Read More »With Calls for Change Mounting, Visa And MasterCard Launch Industry Security Group
In the wake of high-profile retailer data breaches and mounting political pressure to address security flaws in the nation’s payment card system, Visa Inc. and MasterCard Inc. on Friday said they were forming a “cross-industry group” to enhance payment security. The leading card networks said in a joint news release …
Read More »Two More Data Breaches, But Little Concern by Small Businesses for Card Security
Given the massive news coverage about payment card security since December in the wake of Target Corp.’s huge data breach and other ones at Neiman Marcus Group and Michaels, you might think that data protection is top of mind among small-business owners. Not so, according to results of a new …
Read More »First Data’s Star Network Casts Its Lot With Visa’s Identifier for Chip-Card Transaction Routing
Payment processor First Data Corp.’s Star electronic funds transfer network on Wednesday said it would license Visa Inc.’s so-called common application identifier (AID) that will facilitate chip-based debit card transactions compliant with the transaction-routing requirements of the Durbin Amendment in 2010’s Dodd-Frank Act. The agreement with Visa could give Star, …
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