Digital Transactions Authoritative, insightful and timely information for payments professionals
By Kevin Woodward Consumers know their credit and debit cards are changing, they’re just not sure exactly what is happening. That’s one of the findings from a survey released by payments provider Harbortouch. In the survey of 18,000 U.S. consumers, 89.4% said they were aware of the transition from magnetic …
Read More »America: Visa’s Unlikely EMV Leader
Americans like to say their country is No. 1. Now, according to Visa Inc., America is No. 1 in a most unlikely category: EMV chip cards. According to figures Visa released Tuesday, some 141.9 million EMV credit and debit Visa cards were in issue in the U.S. as of August, …
Read More »As the Liability Shift Rapidly Approaches, Free Can Be a Smart EMV Terminal Motivator
With fewer than 300,000 merchant locations ready for EMV chip card transactions—according to Visa Inc.—efforts to get merchants to upgrade to the more fraud-resistant point-of-sale terminals take on greater importance. For example, iPad-based POS system maker ShopKeep.com Inc. last week began offering merchants a free contactless reader that also accepts …
Read More »Card Manufacturer’s IPO Filing Opens a Window Into the U.S. EMV Conversion
The conversion of U.S. general-purpose payment cards to the EMV chip card standard is providing windfalls for all sorts of card-industry vendors. A new example comes from the big plastic card manufacturer CPI Card Group Inc., which has filed for a possible initial public offering of stock. EMV cards accounted …
Read More »Visa’s Latest EMV Snapshot: 127 Million Chip Cards, 295,000 EMV-Accepting Locations
By Jim Daly With the much-heralded EMV liability shift now less than a month away, the United States could be likened to briskly walking, though hardly running, toward the finish line of full-fledged chip card payments. New figures provided by Visa Inc. to Digital Transactions News on Friday show that …
Read More »U.S. EMV Conversion Once Again Gives a Big Lift to VeriFone’s Revenues
With much of its international business under pressure because of the strong U.S. dollar and weak economies in many countries, VeriFone Systems Inc.’s North America region once again proved to be the point-of-sale hardware and payments software provider’s saving grace. Powered by the U.S. conversion to EMV chip card payments, …
Read More »Lost Sales From Unfounded Rejections Dwarfs Actual Fraud Losses, Report Says
While a seemingly unending rash of data breaches has payments players scrambling to adopt a panoply of fraud-fighting technologies, little attention has been focused on the consequences for issuers and merchants when cardholders are wrongly turned down at the point of sale because of fraud suspicions. It’s a big problem—bigger …
Read More »COMMENTARY: Get Ready for EMV’s Longer—And Different—Transactions
With all the attention being given to the upcoming EMV liability-shift deadline on Oct. 1 in the United States, one important issue is getting overlooked. That’s the effect new chip cards and EMV software and equipment will have on the customer experience. According to a recent report on EMV from …
Read More »Education—of Consumers and Merchants—Is Now a Crucial Goal For U.S. EMV Rollout
As the Oct. 1 EMV liability-shift date nears, and consumers begin receiving even more credit and debit cards bearing EMV chips, educating them and merchants on how the cards are used takes on even greater importance. Just last week, Target Corp. introduced a video and a series of questions-and-answers explaining …
Read More »Peril of New Chargebacks Could Bring EMV Into Focus for Unaware Merchants
A significant chunk—44%—of small-business owners have no knowledge of the EMV liability shift coming Oct. 1. That finding from “Small Business EMV Readiness,” a report released by Javelin Strategy & Research this week, suggests that many might be in for a shock when their merchant-processing statements arrive in November and …
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