PYMNTS

MAY 26, 2016

EMV adoption rate by merchants and issuers. Million | The number of chip-active merchant locations as of April 30, 2016. The latest stats released by MasterCard give more optimism about the U.S. And for today’s Daily Data Dive 5-in-1, PYMNTS has broken those stats down: 1.2 1 deadline. 67 | The percentage of U.S.

CHIPS 46

CHIPS Chip Cards EMV Visa 46

Payments Source

DECEMBER 26, 2016

payment card market prompted many issuers to keep things simple by sticking with contact-only chip cards when they finally moved to support EMV, but now certain issuers are taking a new tack by adding Near Field Communication technology to their chip-enabled cards. The large scale of the U.S.

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EMV Chip Cards CHIPS Issuers 60

The Paypers

AUGUST 15, 2017

(The Paypers) The 2017 Debit Issuer Study commission by PULSE has shown a decrease in debit fraud loss after US financial institutions increase issuance of chip debit cards in 2016.

Debit Card 31

Debit Card CHIPS Chip Cards Issuers 31

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.,

Fraud Detection 85

Fraud Detection EMV Issuers Chip Cards 85

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

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.

Cross-Border Payments 88

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

FEBRUARY 3, 2017

Experts say the main reason for theft with chip cards is when banks and vendors don’t correctly implement the chip card standard, known as EMV. The only way for this attack to be successful is if a [bank card] issuer neglects to check the CVV when authorizing a transaction,” wrote NCR Corp.

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CHIPS Credit Cards Chip Cards EMV 41

PYMNTS

NOVEMBER 12, 2020

There’s also the safety of using debit in contactless payments, he said, where issuers had, fortuitously from a timing perspective, accelerated their issuance of contactless cards coming into 2020 and before the age of COVID-19. Use of debit in eCommerce has accelerated during the pandemic.

Debit Card 64

Debit Card Point-of-Sale (POS) Issuers Federal Reserve 64

PYMNTS

JUNE 17, 2016

Today, there are 300 million chip cards in circulation and 1.2 It’s also the first to say that there could and should be more places for consumers to use their chip cards. payments landscape, Visa will also limit the number of transactions issuers can chargeback to merchants (and their acquirers) until April 2018.

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EMV CHIPS Chip Cards VARS 50

PYMNTS

JUNE 20, 2016

The move has been complicated by the combination of most merchants getting a very late start to the EMV process – the Target breach was what many merchants considered their official starting line despite announcements by the card networks years earlier – and a complicated certification process that’s been tough for some merchants to navigate.

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EMV Visa Chip Cards VARS 45

PYMNTS

JUNE 6, 2016

Meanwhile, counterfeit fraud follows a rather predictable (and logical) path: from the EMV-enabled issuers to the non-EMV-enabled issuers, and from the EMV-enabled merchants to the non-EMV-enabled merchants. This is a situation that she says isn’t unique to EMV. In fact, it might be quite the opposite.

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EMV CHIPS Chip Cards Issuers 43

PYMNTS

SEPTEMBER 14, 2017

As chip-card adoption and online sales increase, fraudsters are looking to the internet for prey, which means that card-not-present (CNP) fraud will continue to rise,” said ICBA Bancard President and CEO Tina Giorgio in the press release.

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Authentication Community Banks Chip Cards Issuers 51

PYMNTS

JUNE 23, 2016

Amex will also limit the number of counterfeit fraud chargebacks to a total of 10 per card account. Under these new policies, the card issuer, instead of the merchant, will cover the liability for the additional counterfeit fraud transaction disputed from a card account after those 10 chargebacks.

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EMV Chip Cards CHIPS Disputes 45

PYMNTS

SEPTEMBER 19, 2016

Part of that deployment reluctance on the part of the merchant, said Gumbley, can be traced to the vagaries of the consumer experience, where transaction times using chip cards can last anywhere from a few seconds to “multiple 30-second increments,” a range that can be disconcerting and confusing.

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EMV Chip Cards CHIPS Issuers 78

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. Fraud varies country to country, region to region.

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Chip Cards EMV CHIPS Issuers 46

PYMNTS

OCTOBER 22, 2020

s struggles toward universal adoption in the European Union is reminiscent of EMV chip cards’ rise — a similar journey that aimed to solve a different fraud problem. When the card networks first started mandating EMV, McCutcheon said, there was heavy resistance. Why 3DS 2.0 Is (And Isn’t) Like Putting EMV Into Place .

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

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

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

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

PYMNTS

OCTOBER 14, 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. According to payment gateway NMI, just 3 percent of payments in the U.S.

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Contactless Payments Debit Card CHIPS Credit Cards 58

PYMNTS

AUGUST 3, 2016

consumer credit cards are now enabled with chips, marking an 88 percent increase in chip card adoption since the Oct. million chip-active merchant locations, which make up approximately 30 percent of the total merchant population in the U.S. “The Today, Mastercard announced that 80 percent of its U.S.

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EMV Visa CHIPS Chip Cards 43

FICO

MARCH 29, 2017

That means we’ll continue to see compromises - and card fraud - rise. 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. If your plastic card is captured inside of an ATM, call your card issuer immediately to report it.

ATM 72

ATM Debit Card Compromise Card Issuer 72

PYMNTS

OCTOBER 14, 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. According to payment gateway NMI, just 3 percent of payments in the U.S.

Contactless Payments 49

Contactless Payments Continuity Debit Card CHIPS 49

PYMNTS

APRIL 28, 2016

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., The shift to EMV in the U.S. Last year alone, over 2.06 marking a twofold increase over 2014.

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EMV CHIPS Chip Cards Contactless Payments 41

Stax

OCTOBER 21, 2024

The first key component is the transaction fee, which is the base cost merchants must pay for each credit card transaction. The interchange fee is another component, set by card issuers. These transactions are usually made with physical credit or debit cards that are swiped or inserted into chip card readers.

Credit Cards 88

Credit Cards Process Processors Processing Costs 88

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. Counterfeit fraud has dropped by 52 percent at merchants that are using chip-enabled cards. increased 92 percent to 408.1

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Chip Cards CHIPS Data Breach Payments 43

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

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

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). To make transaction alerts accessible and useful for everyone, we encourage issuers to enable as many communication channels as possible.

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Risk Issuers Enrollments Commercial Card 44

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. It’s universally compatible Unlike the chip card and magnetic stripe, NFC technology is standardized.

Contactless Payments 88

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

PYMNTS

FEBRUARY 10, 2017

Despite the growing usage of EMV chip card technology to help safeguard payment card data at the point of sale (POS), cybercriminals are turning to devices called “shimmers” to read card numbers and possibly access a card’s chip and obtain the PIN. Old Tools, New Tricks .

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Account Takeovers CHIPS Chip Cards Fraud Detection 56

PYMNTS

JUNE 16, 2016

“We’ve taken steps to simplify the process as much as possible and help reduce any challenges so merchants can move forward with chip adoption quickly.”. According to Visa, there are at present 300 million chips card in circulation in the U.S. After that point, the issuer picks up liability. million merchant locations.

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CHIPS EMV VARS Acquirers 41

PYMNTS

APRIL 18, 2018

Credit and debit cards don’t come in different shapes or sizes — and even in the era of EMV, they still have mag stripes to make them useful at merchants that don’t yet accept chip cards. That’s not the case in the digital world. There isn’t a standard today for how consumers and merchants transact when shopping online.

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Interoperability EMV Chip Cards Issuers 46

Fintech Labs Insights

JUNE 8, 2015

TSYS launches its Chip Card on Demand to help issuers make the transition through the October chip liability shift. Apple lists Xero among group of business apps Apple is using to market the iPad for use in business. Top Image Systems unveils its new mobile account opening and on boarding app, MobiENROLL.

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Chip Cards Venmo CHIPS Advisors 24

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

Fintech Labs Insights

SEPTEMBER 28, 2015

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. Most issuers address basic EMV questions when sending new chip cards to customers. the number that understood it.

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EMV Mobile Payments Credit Union Push-to-Card 29