BankNews Feb. 2015

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Search Results: EMV

Amex to Offer Cashbacks to Accelerate Merchant Adoption of EMV Terminals

March 2 – After being announced last October by President Obama, American Express (AXP) has launched its Small Merchant EMV Assistance Program. The nationwide campaign will help U.S. small merchants fight fraud through a $10 million reimbursement program designed to accelerate adoption of EMV payment terminals. It will also arm small merchants with knowledge about EMV’s security benefits.

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EMV Migration Forum Releases Best Practices on Chip-Migration Communication

March 2 – The U.S. migration to secure EMV chip technology is picking up speed, making now the right time to educate consumers on the changes to their payment cards and in-store terminals.

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2015 IAD Poll Reveals Jump in EMV Readiness, Continued Concerns About Cost

March 2 – While the 2015 U.S. IAD Survey showed that EMV migration costs and interchange are still top concerns for IADs, the annual study also held a few surprises — including a significant uptick in IADs upgrading and replacing ATMs in the field in order to add EMV capability.

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More Than Half of U.S. POS Terminals to Be EMV-capable by End of 2015

February 13 – By the end of 2015, approximately 59 percent of U.S. point-of-sale locations will be chip-capable, says Aite Group. This finding and others are included in an upcoming Aite Group research report, EMVelocity: Outlook for POS Re-terminalization and Mobile Payments. Based on interviews with merchants, acquirers and processors, and other key players in the ecosystem, the report conducts an in-depth study of the U.S. point-of-sale evolution.

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At Least 5 Percent of Card Issuers Will Suffer Fraud on EMV Cards Due to Improper Implementations by the End of 2015

February 9 – Following some high-profile data breaches in 2014, U.S. payment card network participants began heavily endorsing Europay, MasterCard and Visa (EMV) chip cards as an important way to prevent damage from payment card breaches. However, criminals have taken advantage of poor implementations of EMV chip payment applications, committing extensive fraud that defeats EMV controls for everyone in the payment card ecosystem.

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ATMIA Releases the Results of Its New ATM Channel EMV Readiness Survey

February 6 – The ATM Industry Association (ATMIA) has released the results of its new ATM Channel EMV Readiness Survey. The purpose of the survey, completed in December, was to measure the progress of ATM operators toward EMV migration in the U.S. Less than two years remain before fraud liability shifts to acquirers for some fraudulent ATM transactions.

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With EMV Chip Migration on Track, U.S. Payments Industry Looks Ahead to Mobile, eCommerce and Tokenization

February 5 – The migration of the world’s largest and most complex payment ecosystem to EMV chip technology is well under way, industry leaders at the Smart Card Alliance 8th Annual Payments Summit agreed. Conference speakers highlighted industry collaboration on education as one of the next steps to completing a successful migration, and looked ahead to building on the EMV framework to solve the open challenges of mobile and e-commerce payment.

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What the U.S. Merchant Community Needs to Know About EMV Chip Implementation

2015 is expected to be a landmark year of progress for the U.S. migration to EMV chip payments. It is also the year when, starting Oct. 1, the payment brands will start to shift liability for fraudulent transactions to merchants if they haven’t upgraded their systems to accept chip cards. While it’s probable that the “big box” merchants will be ready, there are millions of mid-sized merchants and value-added resellers (VARs) that are only just starting to learn about chip technology and beginning implementation project plans.

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Ingenico Group and Beamm Launch New EMV-Certified, In-Store Tablet POS Solution for Small Businesses

January 23 – Ingenico Group, a global leader in seamless payment, and Beamm, Inc., makers of intelligent cloud-connected POS and commerce technology for small businesses, have launched a multi-channel commerce solution for small business owners. Called the smart tabletPOS and available immediately, it combines powerful tablet POS software integrated with cloud-based tools to help merchants ring up sales, manage their business, engage customers and drive revenue.

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More than 50 Percent of Retailers Not Fully Prepared as EMV Deadlines Approach

January 23 – With only nine months until the EMV migration deadline, retail and technology professionals are still unprepared, according to a recent survey by ACI Worldwide. The survey of 200 retail industry professionals was conducted in January 2015 at the National Retail Federation’s 104th Annual Convention and Expo, “The Big Show,” in New York.

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