News

October, 2015

• 5 October

  ATM Surcharges and Foreign Fees Are Up 4% to New Records, Bankrate Survey Finds

  ATM surcharges rose 4% to an average of $2.88 this year from $2.77 in 2014, while foreign fees increased 3.8% to $1.64 from last year’s $1.58, Bankrate Inc. found in its latest annual study of checking account fees. Together, the two fees total $4.52, another new record and up 3.9% …
• 2 October

  EMV Transition Marks Progress in Cards And Transactions, Evokes New Products

  With the Oct. 1 liability-shift milestone passed, payments companies are reviewing progress so far and introducing new products to take advantage of the migration to EMV chip card payments. First up is MasterCard Inc., which says that “tens of millions” of chip-enabled transactions are being made in the United States. …
• 2 October

  Why a Regional Bank Is Going With Chip-And-PIN for Its EMV Credit Cards

  By Jim Daly They’re few and far between, but another U.S. issuer, regional banking company First Niagara Financial Group Inc., has committed itself to issuing EMV credit cards of the chip-and-PIN variety. Buffalo, N.Y.-based First Niagara announced just before the U.S. EMV liability shift took effect that it will convert …
• 1 October

  First Data Launches Its IPO With an Offering That Could Value Processor at $17.6 Billion

  By John Stewart Payments-processing titan First Data Corp. on Thursday launched its long-awaited effort to go public with an initial offering of stock that would value the company at as much as $17.6 billion and raise as much as $3.2 billion. The IPO could well be the largest seen on …
• 1 October

  After the Big Liability Shift: What’s Next for EMV?

  In the four years since Visa Inc. announced the EMV liability shift would be Oct. 1, 2015, merchants, issuers, processors, and other parties have expended huge efforts to prepare for this day. But the real work—converting millions more merchants, issuing millions more chip cards, and educating merchants and consumers—is in …

September, 2015

• 30 September

  Intel in Payments

      Farhaan Mohideen – Strategist, Mobility and Secure Payment Solutions Intel in Payments Merchants and service providers have to put in far more focus on the experience itself to differentiate their services. The ultimate goal has been to make the experience as invisible, as simple and as seamless as …
• 29 September

  Consumers Not Quite so Enamored With Debit Cards as Before, TSYS Study Finds

  Debit cards are still Americans’ favorite payment type, but they’re not quite as popular as they were two years ago, according to new survey findings from Total System Services Inc. (TSYS). The payment processor’s fifth annual Consumer Payment Choice Study, which in June surveyed more than 1,000 consumers with at least …
• 29 September

  Merchant Groups Get in Last Licks About EMV Before Liability Shift Sets in Thursday

  U.S. merchants and their trade groups have been less than thrilled with how the banks and card networks have managed the EMV rollout, and on Tuesday they got in one last blast before the liability shift occurs two days from now. n In the conference call, Mallory Duncan, senior vice …
• 29 September

  Fraud-Weary Europeans Look Forward to the U.S. EMV Liability Shift

  Stolen European payment card numbers and related data are popular imports in the U.S. black market, which is why European bankers, merchants and data-protection executives are looking forward to America’s EMV chip card liability shift that takes effect Thursday. That’s the word from Jeremy King, international director of the Wakefield, …
• 28 September

  With a Choice, Will Samsung Smart-Phone Owners Choose Samsung Pay?

    Samsung Electronics America Inc.’s launch today of Samsung Pay, a mobile-payments service exclusive to its smart phones, could pose a quandary for consumers over whether they should choose Samsung Pay or Android Pay, Google Inc.’s mobile-payment service that wireless operators are loading onto the Android phones they sell. Samsung …