November 16 – A national survey examining consumer sentiment and usage trends among early adopters of EMV or “chip” enabled credit cards found that one in five consumers consider transaction time as their top concern when using an EMV-enabled credit or debit card. (more…)
Search Results: EMV
November 16 – B2 Payment Solutions Inc. (B2) and Underwriters Laboratory’s (UL) have announced that Chase Commerce Solutions purchased an additional EMV certification solution to help businesses streamline the certification process to accept chip credit and debit cards at the point of sale.
November 10 – Fraudsters are exploiting a closing window of opportunity to counterfeit debit cards – and turning to alternative methods of attack – as the U.S. transitions to EMV, according to the Auriemma Consulting Group (ACG).
November 9 – As the U.S. continues its implementation of EMV chip cards, the EMV Migration Forum has announced new resources to provide education for consumers and implementation guidance for merchants and issuers.
October 23 – National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement regarding the recent Europay, MasterCard and Visa (EMV) chip-card transition.
October 22 – A program to streamline back-end activities essential to regional banks and credit unions has been introduced by Shoreline, a Gemalto company. Shoreline’s Processor Ready Program integrates with all nine top U.S. payment processors. It allows card issuers to work with any processor they prefer while using Shoreline for EMV chip card production, personalization and fulfillment.
October 16 – The Electronics Payments Coalition has commended the FBI for its announcement on EMV migration to consumers. It released the following statement:
By Toni Lapp
The EMV liability shift is upon us, and as of Oct. 1, retailers will be liable for fraudulent transactions if an EMV chip card is presented, but the point-of-sale equipment has not been updated. Yet by many accounts, most Americans do not even know what an EMV chip card is or how it provides enhanced security over magnetic stripe cards. Of those who are aware of the new cards, one survey reported that the majority (53 percent) had not yet received replacement cards.
But one segment of the population is keenly aware of the EMV technology: fraudsters. (more…)
October 12 -ShopKeep, the cloud-based technology and business management solution used by more than 20,000 independent merchants, has released its Q3 2015 ShopKeep Small Business Index (SSBI). The SSBI, which draws upon insights gathered from 836 small business owners, reveals that contrary to popular belief, competing with national retail and restaurant chains is not the biggest worry this holiday season. Rather, the top concerns for merchants are competing small businesses, changing EMV requirements as well as the overall state of the economy and how it will impact business during Q4 and into 2016.
October 1 – The Europay, MasterCard and Visa liability shift is now official, and while retailers and banks have been working toward this transition, a recent ACI Worldwide survey found that six out of 10 consumers have either not received their EMV card or are unaware of the use and purpose of their EMV card. This is in spite of the fact that approximately 85 percent of all retail transactions are card-based purchases and will soon be affected by the new liability shift. Gary Cardone, CEO of dispute mitigation company eConsumerServices, stresses the need for more consumer education, noting that a majority of consumers remain in the dark about EMV. (more…)