January 26 – The last 12 months proved another positive year for the EMV smart payment cards standard, initially created by Europay, MasterCard and Visa. In 2015, EMV card issuance in the U.S exceeded original industry expectations, hitting nearly 600 million units, while China showed continued success, achieving record shipments near the 850 million mark. The two countries led significant worldwide market growth, accounting for 53% of the more than 2.6 billion total EMV cards shipped in 2015, according to ABI Research, the leader in transformative technology innovation market intelligence. But how long can growth continue to climb?
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January 19 – MagTek, Inc., a supplier of secure payment technology, has launched the eDynamo, MagTek’s newest EMV L1/L2 certified, secure card reader authenticator for magnetic stripe and contact EMV payment cards.
December 7 – Could EMV cards put a damper on holiday shopping? The time it takes to complete an EMV transaction is the top concern for one in five consumers when using an EMV-enabled credit or debit card, trumping concerns over security even, according to a national survey of early adopters of EMV cards. (more…)
As the U.S. migration to EMV chip payments continues, some industry participants are thinking about preparing to process payments made using EMV contact chip cards, EMV contactless chip cards, mobile NFC1 devices, or all three. Yet for some, misconceptions around what NFC technology really is and how it can be used with EMV chip payments persist. To clarify how NFC and EMV work as companion technologies, the Smart Card Alliance has released a white paper on “EMV and NFC: Complementary Technologies Enabling Secure Contactless Payments.”
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…)
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.