Thursday , March 28, 2024

Smart Cards

MasterCard’s ‘Road Map,’ Including Merchant Incentives, Lifts Industry Hopes for EMV

Ever since Visa Inc. released a major policy statement in August regarding chip cards in the United States, observers have waited for the other shoe to fall from competing card networks, especially Visa’s biggest rival, MasterCard Inc. That void began to fill in late on Monday with MasterCard’s release of …

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Fraud From Euronet Breach Hits Mag-Stripe Cards, Spares EMV Chip Cards

Payment processor Euronet Worldwide Inc. reported on Monday that part of its European businesses sustained a computer security breach late last year. The disclosure is of interest to the U.S. payments industry as it moves slowly toward adoption of EMV chip cards because most European cards have both a chip …

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Chase Issues First Airline EMV Card, Following Two Chip Cards Launched Earlier

  n As with Chase’s previous two EMV deployments, the new Visa card will allow cardholders to sign for transactions rather than enter a PIN, which is a far more common form of authentication for EMV in markets like Europe and Canada where the smart card technology has been rolled …

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Visa Tries To Juice EMV And Mobile Payments with New Initiatives

Leading payment card network Visa Inc. on Tuesday announced three initiatives to spur adoption of so-called EMV contact and contactless chip cards and near-field communication (NFC) mobile payments in the U.S. Observers hailed Visa’s action, but noted that a full move to EMV and NFC mobile payments in the U.S. …

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Eye on EMV: UNFCU Study, Aite Survey, Jack Henry Service

  n The first U.S. financial institution to introduce EMV cards, United Nations Federal Credit Union, released the results of a study along with Gemalto, the vendor of its cards. The study comes one year after the credit union launched its chip-and-PIN credit cards. As a result of the study, …

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U.S. EMV Pioneers Like Wal-Mart And SECU Are Gung-Ho, But Others Show Less Enthusiasm

At least some banks and merchants may be forging ahead into chip card payments, but presentations at an industry trade show this week leave doubt whether the rest of the industry is ready to follow. Wal-Mart Stores Inc. has now enabled all of its U.S. stores with terminals to accept …

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Chase And Wells Chip Card Deployments Could Lend Impetus to EMV in the U.S.

The announcements last week that two top-10 U.S. banks will soon start issuing smart cards based on the EMV chip card standard, while largely symbolic for now, could herald bigger deployments later on. Normal banking competition, meanwhile, could also bring more U.S. banks to issue chip cards, bank executives and …

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It’s Regulated by Durbin, But SECU Is Going Ahead with EMV Conversion

With $21.5 billion in assets, enough to rank it the second-largest credit union in the country, Raleigh, N.C.-based State Employees Credit Union will sustain a substantial loss of debit card interchange income when the Durbin Amendment to the Dodd Frank Act takes effect this summer. But that isn’t stopping the …

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