News

October, 2015

• 23 October

  Now That the Big Risk Shift Has Taken Place, Get Set for EMV Non-Compliance Fees

  Now that merchant acquirers, and, by extension, merchants, are liable for certain kinds of fraud losses if the merchants aren’t prepared for EMV chip cards, acquirers are starting to put in place EMV non-compliance fees to cover their new risk exposure. One of the first to move on this is …
• 22 October

  VeriFone Launches New POS Terminals Embodying Modern Design Cues

  VeriFone Systems Inc. on Thursday introduced a new point-of-sale terminal product line that embraces design cues from consumer electronics. With the new terminal line, VeriFone also introduced its first app store. Dubbed Engage, the series of six devices, which includes two countertop terminals, two PIN pads, and two portable devices, …
• 22 October

  As It Prepares to Ship Devices, Startup Poynt Wins Key EMV And PCI Certifications

  For merchants these days, laying hands on a payment terminal with the needed EMV certifications is hard enough. Finding a certified device with built-in intelligence is even harder. Against that backdrop, a Palo Alto, Calif.-based startup called Poynt Co. on Thursday announced its Poynt Smart Terminal is the first such …
• 21 October

  House Panel Hears How EMV Rings Up a Big Tab for Some Small Businesses

  Implementing EMV chip card payments can be anything but a cheap and easy plug-and-play for small businesses, according to testimony several merchants gave before a U.S. House of Representatives committee Wednesday. Art Potash, chief executive of Potash Markets, a 65-year-old family-run Chicago grocery operation with three stores, told the House …
• 21 October

  Revenue Per Merchant Varies Greatly for Mid-Tier Merchant Acquirers, Report Shows

  Top performing merchant acquirers make more than 103 basis points per transaction from merchants that process with them. That’s the finding from a survey of 37 independent sales organizations and acquirers conducted by Adil Consulting, an Omaha, Neb.-based payments-advisory firm. The median is 64 basis points. The top 20% of …
• 20 October

  Network Executives Tout EMV Chip Card Progress in Wake of Merchant Liability Shift

  Two weeks after what has come to be regarded as the official start date for EMV chip cards in the United States, senior executives with the major card networks gave a largely upbeat progress report to an audience of acquiring-industry owners and managers last Thursday, while acknowledging that much work …
• 20 October

  Hype Aside, Only 18% of Consumers Make a Mobile Payment at Least Once a Week

  By Kevin Woodward None can escape the notoriety of mobile payments, but most consumers apparently are able to ignore the allure of using the smart phone-based technology. Only 18% of consumers use their mobile phones to make at least one payment a week, finds the 2015 North America Consumer Digital …
• 20 October

  The Prepaid RushCard Declares a 4-Month Fee Holiday After Processing Glitch

  UniRush LLC’s RushCard declared a four-month fee holiday over the weekend after a glitch during the prepaid card’s switch to a new processor that began Oct. 11 limited access to an undisclosed but apparently large number of customers’ accounts. Cincinnati-based UniRush did not identify the processor. The glitch apparently started …
• 19 October

  Diebold in Talks To By German ATM Maker Wincor Nixdorf for $1.8 Billion

  Diebold Inc., the second-largest U.S.-based ATM manufacturer after NCR Corp., disclosed over the weekend that it is in discussions to buy Paderborn, Germany-based ATM maker Wincor Nixdorf AG. North Canton, Ohio-based Diebold issued a statement Saturday confirming that it has a non-binding agreement with Wincor Nixdorf “regarding the key parameters of …
• 16 October

  With EMV’s Liability Shift in the Past, How Will Merchants React to First Statements?

  By John Stewart Top executives in the acquiring business are accustomed to looking far into the future, but one near-term concern popped up repeatedly at this week’s Strategic Leadership conference in Scottsdale, Ariz.: How will merchants react when they get their first statements showing chargebacks for counterfeit card fraud? As …