Saturday , August 13, 2022

Smart Cards

How EMV-Related Chargebacks Drove Florida Merchant Duo to Sue Networks And Issuers

The Florida merchants that sued all the major card networks and eight of the 10 largest bank issuers last month saw no other way to deal with the flood of chargebacks they incurred after the EMV liability shift, according to a top executive with one of the merchants and an …

Read More »

MasterCard Says EMV on Two-Thirds of Its Credit Cards And Accepted at 1.2 Million Locations

Six months after the U.S. payment card industry adopted EMV chip card transactions as the preferred card technology, MasterCard Inc. says 67% of U.S.-issued consumer credit cards bearing its mark have chips, and 1.2 million U.S. merchant locations now accept the card. The data comes six months after the Oct. …

Read More »

Many ATM Operators To Speed up EMV Acceptance in 2016: Survey

While many ATM operators know what hardware and software their fleets need to enable EMV chip card acceptance, most are waiting to fully upgrade until concerns about routing issues, chargeback rates, and continuing uncertainty subside, according to the 2016 ATM Channel EMV Readiness survey from the ATM Industry Association. Like …

Read More »

Former MCX Chief Joins InStream Board and other Digital Transactions News briefs

• NCR Corp. says its Epsilon payments application received EMV certification from First Data Corp., enabling the app to process credit and debit EMV transactions in its Radiant POS and StorePoint POS products. • Former Merchant Customer Exchange LLC chief executive Dekkers L. Davidson joined the InStream Inc. board of directors. …

Read More »

Semi-Integrated POS Products Could Reduce EMV Certification Costs and Save Time

Independent software vendors, value-added resellers, and point-of-sale software developers facing the daunting task of certifying their unique products for EMV payment acceptance may face costs starting at $30,000. That figure, which comes from Andrey Tikhonov, senior director of payment technology at Elk Grove Village, Ill.-based Infinite Peripherals Inc., reflects the …

Read More »

Sen. Durbin Suggests That the Big Networks Have Too Much Power Over Chip Cards

U.S. Sen. Richard Durbin, author of 2010’s controversial Durbin Amendment, wants to know about the inner workings of EMVCo, the chip card standards body owned by the six largest global payment card networks. A statement Thursday from the Illinois Democrat says Durbin is “seeking information on whether the deployment of …

Read More »

Vantiv Exec Warns About E-Commerce Declines As EMV Cards Proliferate

  The U.S. payments industry’s transition to EMV chip cards has produced a number of side issues, but few may be more pressing for card-not-present merchants than the failed authorizations caused by the ongoing replacement of as many as 1.6 billion credit and debit cards. The new EMV cards carry …

Read More »

VeriFone’s U.S. EMV Focus Shifts From Large Retailers to Other Merchant Sectors

Multilane retailers provided much of the revenue lift that payment-acceptance hardware and software provider VeriFone Systems Inc. has enjoyed for the past couple of years as the U.S. prepped for the Oct. 1, 2015, EMV liability shift, but many of the big retailers have now completed their EMV purchases. Yet …

Read More »

Retail Duo Hits Networks, Banks, and EMVCo With Chargeback Suit, Seeks Class Status

The liability shift by which merchants not prepared to accept EMV chip cards now must bear responsibility for counterfeit card fraud has given rise to a federal antitrust lawsuit seeking class-action status for merchants. The 47-page complaint, filed Tuesday in U.S. District Court for the Northern District of California, comes …

Read More »

CardFlight’s Stripe Integration Deal Aimed at Developers of In-App, Card-Present Payments

With an eye to easing the integration of EMV payment acceptance in mobile apps used for card-present transactions, mobile point-of-sale provider CardFlight now offers integration with Stripe, a payments provider specializing in online transactions. Developers can use the CardFlight software development kit and gateway to add EMV acceptance to apps …

Read More »
Digital Transactions