Payments Source

APRIL 21, 2016

Issuers still have a choice of whether to require PIN authentication for EMV-chip cards, but David Nelms, chairman and CEO of Discover Financial Services, says the chip-and-PIN path increasingly makes the most sense for U.S. payment cards going forward.

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EMV Authentication Chip Cards CHIPS 60

PYMNTS

SEPTEMBER 19, 2016

As the payments industry nears the one-year anniversary of the United States’ transition to EMV, of course, it’s an opportune time to take stock of progress and what remains to be done. And that, he added, shows that merchants may have an EMV-capable PIN pad or reader but are not ready to deploy their countertop terminal in full EMV mode.

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EMV Chip Cards CHIPS Issuers 78

PYMNTS

JUNE 17, 2016

EMV migration over the last seven months. Today, there are 300 million chip cards in circulation and 1.2 million EMV merchant locations. It’s also the first to say that there could and should be more places for consumers to use their chip cards. Visa’s Quick Path To EMV.

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EMV CHIPS Chip Cards VARS 50

Payments Source

JANUARY 31, 2017

The EMV migration includes support for chip cards and NFC contactless payments, giving banks room to compete in the contactless payments market just in time for wearables to take off.

Issuers 60

Issuers Chip Cards Contactless Payments EMV 60

PYMNTS

JUNE 23, 2016

American Express has announced changes to its EMV chargeback policy in order to ease the transition as merchants migrate their POS systems to be EMV-compliant. Amex will also limit the number of counterfeit fraud chargebacks to a total of 10 per card account. We recognize the migration to EMV in the U.S.

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EMV Chip Cards CHIPS Disputes 45

PYMNTS

JUNE 6, 2016

The merchant-card network relationship can be complicated. It’s a complication that’s persisted long before EMV, but one that EMV seems to have intensified. The EMV Tipping Point. Whatever assumptions merchants had made about whether EMV would or would not be leapfrogged by other technology immediately vanished.

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EMV CHIPS Chip Cards Issuers 43

PYMNTS

JUNE 20, 2016

It’s been a tough road on the way to EMV terminal deployment here in the U.S. To that end, MasterCard is announcing today that it is reducing the volume of tests that it requires of terminals before bringing them into the field as certified to enable chip card payments.

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EMV Visa Chip Cards VARS 45

PYMNTS

MAY 26, 2016

EMV adoption rate by merchants and issuers. Million | The number of chip-active merchant locations as of April 30, 2016. 121 | The percentage increase in EMV-enabled merchant locations since the Oct. Million | The number of chip-active merchant locations as of April 30, 2016. 1 deadline. 1 deadline.

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CHIPS Chip Cards EMV Visa 46

PYMNTS

AUGUST 3, 2016

consumer credit cards are now enabled with chips, marking an 88 percent increase in chip card adoption since the Oct. 1, 2015 EMV liability shift. million chip-active merchant locations, which make up approximately 30 percent of the total merchant population in the U.S.

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EMV Visa CHIPS Chip Cards 43

FICO

APRIL 3, 2018

While adoption of the EMV payment standard in the US (as embodied in chip cards and panic at the checkout ) has been slow, fraudsters’ gravitation to card not present (CNP) fraud has been anything but. Two and a half years after the liability shift from issuers to merchants (i.e., Customer satisfaction is key.

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Fraud Detection EMV Issuers Chip Cards 85

PYMNTS

OCTOBER 22, 2020

or “EMV 3DS”) has been a rocky road. The EMV 3DS is uniquely qualified to help merchants keep their chargeback rates down,” McCutcheon said. That] keeps them from getting in trouble with the card brands, and obviously avoids the significant costs that come along with fighting, investigating and resolving chargebacks. What 3DS 2.0

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EMV CHIPS Point-of-Sale (POS) Push-to-Card 88

PYMNTS

JUNE 6, 2019

don’t rely on swiping or chip card readers. cards use chip-and-signature and chip-and-PIN methods. Card issuers have been slow to release contactless cards due to limited acceptance at the point of sale. JPMorgan Chase will roll out new Visa-branded contactless EMV cards this year.

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Contactless Payments Chip Cards EMV Card Issuer 56

PYMNTS

JUNE 16, 2016

Earlier today Visa announced a handful of new moves aimed at pushing EMV chip adoption among merchants. Taken together, Visa believes the changes will help cut the EMV adoption timeline in half. According to Visa, there are at present 300 million chips card in circulation in the U.S. million merchant locations.

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CHIPS EMV VARS Acquirers 41

PYMNTS

JANUARY 13, 2020

The launch of EMV chip cards in the U.S. Despite their success, the use of EMV cards with no required PIN codes has left a door unlocked for crooks. The heightened risk to merchants and issuers is being keenly felt – someone pays when cybercrooks succeed, and it’s often the retailer. It’s not all good news.

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EMV Data Breach Chip Cards Push-to-Card 54

The Payments Association

OCTOBER 4, 2024

Traditional card issuers and networks must adapt or risk obsolescence. Technological disruption and innovation The rapid pace of technological change is both a challenge and an opportunity for the card payment industry.

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Cross-Border Payments Online and Mobile Banking Cross-Border Alternative Payment Methods 88

PYMNTS

FEBRUARY 3, 2017

Consumers might have felt a bit safer using their credit card with the introduction of EMV chip technology, but thieves looking to steal your information have managed to find a way to still gain access to PIN numbers, as well as your card’s chip in some cases.

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PYMNTS

JULY 21, 2017

Just as payment methods are varied, so too are the ways that people pay, and whether, given a certain locale, they prefer paper (cash) over plastic (via mag stripe or chip card), or mobile over interactions with the cashier — these differences color fraud as well. Europe may offer a tell on the fraud to come.

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Chip Cards EMV CHIPS Issuers 46

PYMNTS

APRIL 28, 2016

The shift to EMV in the U.S. is soaring the global demand for smart payment cards by as much as 34 percent, a new Smart Payment Association (SPA) report has found. billion chip cards were supplied — of which, 570 million were shipped to the U.S., With EMV adoption powering ahead in the U.S.,

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EMV CHIPS Chip Cards Contactless Payments 41

PYMNTS

APRIL 25, 2016

Visa is determined to make EMV faster, Starbucks wants to make getting that cuppa joe faster, too, and is crushing it with mobile order ahead and the CFPB might be moving closer to having a fast exodus of the payday lending business once its rules drop. EMV’s Second Phase. Or, at least, some of them must.

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EMV CFPB Online and Mobile Banking CHIPS 40

Fintech Labs Insights

SEPTEMBER 28, 2015

This week’s EMV “liability shift” in the United States is expected to be a boon for mobile payments. Not only are we undergoing a massive expansion in number of NFC-enabled terminals, the more time-consuming “chip dip” makes Apple or Android Pay measurably faster than plastic.

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EMV Mobile Payments Credit Union Push-to-Card 29

PYMNTS

NOVEMBER 30, 2018

It’s not as prevalent in the United States, however, as many card issuers don’t give customers the contactless option. The change happened quickly – numerous markets saw contactless usage go from single digits to more than 50 percent use within 18 to 24 months. that we have seen in the rest of the world,” Sanford said.

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Contactless Payments Chip Cards CHIPS Card Issuer 59

Fintech Labs Insights

JULY 21, 2015

Last week I received new credit cards from US Bank and Capital One, both containing microchips to support EMV terminals, the global standard finally rolling out in the United States over the next few years. Given the world’s obsession with tech, it’s a good time for issuers to toot their own horns a bit.

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CHIPS EMV Bank Card Chip Cards 26

Stax

APRIL 18, 2024

Modern POS systems often come with built-in card readers capable of accepting various payment methods, including EMV chip cards, magnetic stripe cards, and contactless payments (NFC). EMV-compliant terminals are essential to process chip card transactions securely, reducing the risk of fraudulent activities.

Credit Cards 88

Credit Cards Process Online and Mobile Banking Processors 88

FICO

MARCH 29, 2017

That means we’ll continue to see compromises - and card fraud - rise. I’ve been asked whether EMV transition is playing a role here. As ATMs aren’t yet required to be chip-card enabled, the EMV adoption that came into force last year isn’t driving fraud down yet. I think it is, but not the role you’d expect.

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ATM Debit Card Compromise Point-of-Sale (POS) 72

Stax

NOVEMBER 13, 2023

Since the first plastic credit card was issued by American Express in 1959 , payment tech progress has been growing exponentially. EMV chip card technology had a good two decades or so, beginning in the mid-’90s. Tapping their phone to a terminal proved far more exciting than tapping the card.

Contactless Payments 88

Contactless Payments Push-to-Card Online and Mobile Banking Encryption 88

PYMNTS

APRIL 18, 2018

What makes the experience ubiquitous is the set of standards that card networks have agreed to support so that transacting with those payments products is interoperable and consistent for everyone across the payments ecosystem. That’s not the case in the digital world.

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PYMNTS

JANUARY 30, 2017

And chip cards keep eating away at counterfeit fraud — news that might be somewhat more joy-inducing were it not also the case that data breaches hit their all-time high in 2016 as well. Visa had some sunny news about EMV this week. Counterfeit fraud has dropped by 52 percent at merchants that are using chip-enabled cards.

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Chip Cards CHIPS Data Breach Payments 43

EBizCharge

AUGUST 30, 2024

Breakdown of credit card processing fees Credit card processing fees are charged to merchants for each credit card transaction processed. For instance, integrating a payment gateway that optimizes interchange fees or software that automatically updates credit card information can lower costs.

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Credit Cards Processors Process Card Issuer 52

PYMNTS

NOVEMBER 23, 2018

To learn more about that opportunity, and that value, and what it all means specifically for issuers, PYMNTS recently caught up with Danny Rogers, CEO of Terbium Labs , a dark web data intelligence company. In short, financial institutions that set up what amounts to an early warning system for Dark Web activity can find value in that.

Account Takeovers 73

Account Takeovers Push-to-Card Issuers Credit Cards 73

PYMNTS

FEBRUARY 10, 2017

Just when payment card data seemed somewhat protected by EMV technology, hackers have found yet another way to steal information and gain access to PINs. The research showed that during 2016 there was a resurgence in existing card fraud, which saw an increase of 40 percent in card-not-present fraud.

Account Takeovers 56

Account Takeovers CHIPS Chip Cards Fraud Detection 56

PYMNTS

APRIL 26, 2016

14 date for having all issuers provide consumers with Purchase Alerts on all on and offline Visa transactions processed through VisaNet (GPR and commercial cards are excepted). Our data has shown that cards enrolled in Visa Transaction Alerts have fewer fraudulent transactions than cards without transaction alerts.

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Risk Issuers Enrollments Commercial Card 44

PYMNTS

OCTOBER 19, 2016

I recollect a year ago being a lot more bullish that the EMV rollout would roll out the red carpet for mobile payment adoption, and it really hasn’t played out that way,” said Tony Rose, Vantiv’s director of product management. Payment processing and technology provider Vantiv has kept a sharp eye on this evolution. “I

Mobile Payments 79

Mobile Payments EMV Payments Breach 79

PYMNTS

JANUARY 20, 2017

The latest findings of Research and Markets , titled Card-Not-Present Fraud: The Merchant Empire Strikes Back , eCommerce merchants, particularly in the U.S., are in a perfect storm of rapid online sales growth at the same time that the credit card industry is continuing to transition to EMV chip technology.

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Phishing Ransomware EMV CHIPS 45

Stax

NOVEMBER 6, 2023

Major card issuers such as Visa, MasterCard, and American Express each have hundreds of millions of NFC-enabled (near-field communication) debit and credit cards in circulation. Why Is Adding Mobile Payments Important to Businesses Today?

Mobile Payments 88

Mobile Payments Online and Mobile Banking Debit Card Payments 88

PYMNTS

SEPTEMBER 30, 2016

EMV: The three little letters that represent the single most hotly debated and discussed topic in the U.S. The walk to the liability shift in this market last October was technically four years long, but in reality, EMV didn’t become an absolute certainty until Dec. But it’s not just EMV. EMV is not only for the big guys.

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EMV CHIPS Chip Cards Push-to-Card 82

Fintech Labs Insights

SEPTEMBER 3, 2016

And for the third year in a row, Bank of America declined my card at Target buying groceries and incidentals for him. And this time it was an EMV chipped card. Thank goodness I had my trusty Capital One card along, because it seems to do a far better job minimizing false negatives, at least for my account.

Authorization 17

Authorization Chip Cards EMV CHIPS 17

PYMNTS

JANUARY 20, 2017

But even with the introduction of EMV chip–enabled cards, magstripe still brings about its own set of fraud risks. He added that in order to get over the hurdle and achieve a critical adoption level for chip cards in the U.S., When we hit that 75 percent and up level of chip readers out in the U.S.,

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Credit Union Fraud Prevention Authentication CHIPS 44