July 24 – Sixty-six percent of IT decision makers, including C-suite executives, believe that Chip and Signature does not offer credit card holders sufficient security and that Chip and PIN should be required, according to a new survey on EMV readiness from Randstad Technologies, a leading technology talent and solutions provider. By October 1, 2015, the majority of U.S. businesses must transition to EMV-capable technologies or become newly liable for any costs incurred from fraud using old magnetic strip technologies.
Search Results: EMV
July 24 – With the EMV liability shift deadline less than three months away, 52 percent of small businesses will not be EMV-ready, and 37 percent of small businesses have no plans to accept EMV cards after the deadline. But that’s likely to change. Cayan, The Payment Possibilities Company™, conducted a study in June, 2015 to find out what will tip the scale on EMV card acceptance.
July 17 – The Transaction Group (TTG), a leading provider of credit card processing and non-cash payment solutions, is helping businesses become EMV compliant prior to the ‘EMV liability shift’ deadline of October 2015, by providing free EMV terminals and PIN pads.
July 17 – As the U.S. payments infrastructure migrates to EMV chip technology, regulations require that merchants be provided a choice between at least two unaffiliated networks for purchases made using a debit card. To explain the unique U.S. implementation of EMV debit, the U.S. Common Debit AIDi, the EMV Migration Forum released today a new video discussion, “Implementing EMV in the U.S.: How the U.S. Common Debit AIDs Facilitate Debit Transaction Routing and Ensure Durbin Compliance.”
July 13 – Entrust Datacard has announced that financial institutions have instantly issued over 2.1 million chip cards globally in 2015 utilizing Datacard® instant issuance hardware and associated software. That number is projected to grow as more financial organizations adopt the technology – especially within the U.S. where EMV migration is rapidly accelerating.
June 26 – EMV has been widely perceived as more stick than carrot, with both issuers and merchants dragging their feet on the October 2015 readiness milestone. However, the actual state of EMV card penetration — and, more important, the extent of cardholder awareness — has been elusive. Now, JAVELIN has released State of EMV Cardholders: Opportunities to Capitalize on the Halo Effect, which provides a diagnostic snapshot of the state of cardholder awareness of EMV, and looks at the differences (and similarities) between EMV cardholders and non-EMV cardholders.
June 16 – In order to help ensure that an ATM can process transactions using U.S. Common Debit AIDs, the EMV Migration Forum has announced an update to the white paper, “Implementing EMV at the ATM: Requirements and Recommendations for the U.S. ATM Community,” that adds guidance on the use of the U.S. Common Debit AID in various ATM transaction scenarios.
June 5 – The date October 1, 2015 looms as a deadline for U.S. retailers to conform to the new EMV card payment mandate being pushed by the credit card brands; if retailers are not compliant by that date, then liability for fraudulent card transactions shifts from the banks to the retailers. According to new research from IHL Group, most retailers will never recoup the expense that EMV imposes, and the study says there is a much better approach to protecting retailers and consumers.
June 3 – The EMV Migration Forum has released a new document, “Understanding the 2015 U.S. Fraud Liability Shifts,” to provide information to assist merchants, acquirers, processors and others implementing EMV chip technology in the U.S. to better understand liability shifts.
June 3 – A new research report, “Defining a Strategic Path for Banks Regarding EMV, Tokens, Apple Pay, and Mobile Apps,” presents consumer research evidence for why most banks will adopt Apple Pay, forecasts m-commerce dollar volume out to 2025, and identifies the gaps that Apple Pay adoption creates, including the lack of ATM support and the inability to enable payments in the banks’ existing mobile application. The Research and Markets report evaluates different approaches financial institutions can take to fill these gaps while also establishing a strategic plan that minimizes risk by establishing gap-filling relationships that may also offer a second-source supplier for mobile payments.