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With EMV chip card payments coming and mobile wallets using near-field communication already here, merchant acquirers are beginning to roll out their own hardware and software to handle the new technologies. This week, the big merchant acquirer Chase Paymentech introduced its “Future Proof” point-of-sale terminal and earlier this month, Merchant …
Read More »MasterCard Proposes an Industry-Wide Group To Spur EMV Payments
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Read More »Tyfone Announces Patents for Design that Reduces NFC Antennas for Mass Production
Tyfone Inc. on Monday announced it has been awarded a pair of U.S. patents that the Portland, Ore.-based company says should make it easier to manufacture in commercial quantities key elements for mobile payments based on near-field communication (NFC) technology. NFC is a two-way contactless technology that allows, for example, …
Read More »Big-Box Retailers Like Wal-Mart Remain Wary of Network EMV Plans
There’s no federal edict to replace fraud-prone magnetic-stripe credit and debit cards with the more secure EMV chip card, but the payment card networks have unveiled various plans in the past year to encourage U.S card issuers, merchant acquirers, and merchants to board the EMV train. Exactly how a U.S. …
Read More »Most Acquirers Support EMV Programs, But April 2013 Deadline Has Them Nervous
The re-terminalization of the merchant point of sale to accept EMV chip cards could generate more than $6 billion in revenues for independent sales organizations and other merchant acquirers, but the changeover is fraught with competitive and operational risks, according to a new research report by Aite Group LLC. Aite …
Read More »As U.S. Gears up for Chip Cards, a Big-Box Merchant Group Points to Key PIN Issue
Among card networks, payment processors, point-of-sale terminal manufacturers, and even issuers, the coming of EMV chip card payments to the U.S. has an aura of inevitability on par with Mitt Romney securing the Republican presidential nomination. But just don’t tell that to one critically important sector in electronic payments: merchants. …
Read More »Discover Releases an EMV Plan That Echoes Key Deadlines from Visa, MasterCard
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Read More »Processor Execs Echo Merchant Sentiment in Favor of PINs for Chip Cards
Some of the nation’s biggest merchants have been adamant for months that they prefer EMV payments with PINs, not signatures, and on Thursday they were joined in that sentiment by a panel of representatives from some of the country’s largest processors. In the face of tepid support, at best, for …
Read More »Plenty of Tests And Contracts, But No High-Speed Route to Contactless Payments
The nation’s largest transit operators are moving toward so-called open-fare payment systems that will enable riders to pay fares with just a tap of a contactless bank card at a subway turnstile or a terminal on a bus. Replacement of old fare systems, however, is not going at nearly the …
Read More »Now Taking EMV Cards at Some U.S. Stores, Wal-Mart Prods EFT Networks to Get in the Game
With both Visa Inc. and MasterCard Inc. now on the record with plans to encourage the adoption of EMV chip card and mobile payments in the U.S, it seems all but certain that the magnetic-stripe payment card’s days are numbered. In fact, Wal-Mart Stores Inc. already is seeing some EMV …
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