BankNews Feb. 2015

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Search Results: EMV

Financial Professionals Confident That EMV Cards Will Help Mitigate Credit/Debit Card Fraud

March 27 – New research by the Association for Financial Professionals found that financial professionals believe EMV technology will greatly aid their efforts in the fight against credit and debit card fraud.

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EMV-Ready Chip Card Readers for SwipeSimple Mobile Point-of-Sale Solution

March 27 – CardFlight, a leader in mobile point of sale (POS) technology has announced the availability of EMV-ready chip card readers for its SwipeSimple mobile point of sale solution.

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How Ready Are U.S. Merchants for EMV?

March 27 – The Strawhecker Group (TSG) has released survey results showing only 34 percent of U.S. merchants will be EMV-ready by the October 2015 deadline, and just 53 percent of merchants are expected to be fully compliant by 2017 – more than 15 months after the deadline. EMV, or “Europay, MasterCard, and Visa,” is a globally accepted card standard that uses an embedded microchip to provide unique data protection when the card is inserted into a chip-card reader. Most card accepting US merchants may be liable for fraudulent transactions if they are not “EMV compliant” by October 1, 2015.

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Acculynk’s Launches EMV/NFC Compliant mCommerce and eCommerce Authentication Service

March 23 – Acculynk, the provider of PaySecure, a unique authentication and gateway platform, has launched a service that helps merchants, issuers, networks and third party mobile wallet providers secure card-not-present EMV/NFC transactions.

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2015 EMV Migration Report

March 18 – Recent high-profile data breaches, such as those perpetrated against Target and Home Depot, have thrust credit card security chips and the term “EMV” into the public consciousness as the banking and retail industries ready themselves for the impending October 2015 liability shift. Visa and MasterCard set that as the deadline for when banks and merchants must have enabled chip-card payments or else incur significant added liability for fraudulent transactions.

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EMVCo Launches Regional Seminar Program

March 13 – EMVCo, the global technical body that manages the EMV® Specifications, has launched a seminar program that aims to educate and inform regional audiences on the EMV topics most relevant to them. The first event, which is scheduled to take place in Washington, D.C., on 4 May 2015, will provide an overview of EMV chip technology and EMVCo’s role in promoting the global interoperability of payment tokenization.

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Elavon Simplify Ready for EMV Switch

March 12 – Elavon, a leading global payments provider and subsidiary of U.S. Bancorp (USB), now offers EMV with its Simplify payment application. The application is pre-certified for EMV prior to the October 1, 2015 liability shift deadline, when non-EMV-enabled businesses and card issuers will assume responsibility for any fraud that occurs.

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CSCU Offers to Fund EMV/Chip Enablement for Member Credit Unions

March 12 – Card Services for Credit Unions (CSCU) has announced plans to cover the cost of the EMV/Chip enablement phase for its 2,300 member credit unions.

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Off-the-Shelf Solution Speeds up EMV Deployment for U.S. Banks

March 11 – An all-in-one EMV portfolio designed specifically for regional and community banks has been rolled out by Shoreline, a Gemalto company. The portfolio was designed to quickly transition to chip and PIN or chip and signature technology. Continue reading “Off-the-Shelf Solution Speeds up EMV Deployment for U.S. Banks” »

EMVCo to Hold Annual EMV User Meeting in Seattle

March 9 – EMVCo, the global technical body that manages the EMV Specifications, has announced that its seventh annual EMV User Meeting will be held in Seattle on 30 June and 1 July 2015. The meeting, which takes place at the Hotel Monaco, provides a platform for payment industry stakeholders to gain insight into the current work priorities of EMVCo, as well as directly engage with the technical body’s subject matter experts.

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