BankNews April 2015

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Search Results: Payments

Mobile Payments Have Little Impact on Cash Use

August 17 – Mobile payments still account for just a very small fraction of retail in-store payments, according to new research from the ATM Industry Association. ATMIA’s research paper, “U.S. Mobile Payments: Do They Disrupt Cash,” sought to determine what real impact mobile payments are having on the use of cash, and what additional impact can be expected in the future. Continue reading “Mobile Payments Have Little Impact on Cash Use” »

EMV Migration Forum and Payments Security Task Force Launch Education Initiative

August 21 – The Payments Security Task Force and the EMV Migration Forum has announced the launch of the industry-wide CHIP IN Education Initiative.

“After only one successful transaction, consumers understand how to use their new chip cards. We want to make their first impression with chip technology a positive one, and make paying with chip the ‘new normal’ this year,” said Randy Vanderhoof, director of the EMV Migration Forum. “To meet this goal, the EMV Migration Forum and the Payments Security Task Force are asking the industry to expand education efforts by participating in the new CHIP IN Education Initiative.”

GoChipCard.com is a comprehensive site providing instructions for successful chip card transactions along with information about what chip cards are, the security they deliver and reference materials for consumers, issuers and merchants.

What Is the CHIP IN Education Initiative?

The same cross-industry organizations that delivered the GoChipCard.com educational website are now asking industry stakeholders to chip in and help expand efforts to educate consumers and small businesses about the new cards appearing in their wallets and their stores.

How Can Industry Participants Help?

The initiative provides issuers, merchants, acquirers and others with educational messages and materials that can be shared through social media and other channels.

For those that sign up to join the initiative, participants will receive a weekly email which includes:

Pre-drafted social media posts and hashtags
Free educational downloads including useful visual aids, training guides, FAQs, infographics and more
Ways to use resources to maximize educational value
Media interview tips
Methods to encourage visits to GoChipCard.com

“Awareness and these resources help make that first chip card transaction a positive experience, whether you’re shopping or helping your customer,” said Carolyn Balfany, senior vice president, MasterCard. “This is the latest in a series of steps that we’re taking to help all U.S. customers and cardholders to understand the many benefits of the upgrade to chip.”

“The CHIP IN Education Initiative is another tool we can use to support the transition to chip technology in the U.S. All of those in the payments ecosystem have demonstrated a shared commitment to easing the transition to chip technology, and, through continued collaboration on initiatives like CHIP IN, we can help educate consumers and small businesses as to how chip technology can help reduce fraud and increase payment security,” said Stephanie Ericksen, vice president of Risk Products at Visa, Inc.

Join the CHIP IN Education Initiative here: www.emv-connection.com/chip-in.

The first weekly email will be sent during the week of August 24th, so industry participants are encouraged to join before then.

“We look forward to seeing everyone chip in to make the U.S. EMV chip migration a success,” added Vanderhoof.

EMV Migration Forum and Payments Security Task Force Launch CHIP IN, an Industry-Wide EMV Chip Education Initiative

August 19 – The Payments Security Task Force and the EMV Migration Forum have announced the launch of the industry-wide CHIP IN Education Initiative.

Continue reading “EMV Migration Forum and Payments Security Task Force Launch CHIP IN, an Industry-Wide EMV Chip Education Initiative” »

Little Impact from Mobile Payments on Cash Use

August 17 – The ATM Industry Association has announced the release of a new research paper, “U.S. Mobile Payments: Do They Disrupt Cash?” which examines the impact of mobile payments on the growth of cash.  Despite all the attention it receives, mobile payments still account for only a very small fraction of retail in-store payments.  ATMIA sought to determine what real impact mobile payments are having on the use of cash, and what additional impact can be expected in the future.

Continue reading “Little Impact from Mobile Payments on Cash Use” »

Federal Reserve Bank of Kansas City President and CEO to Keynote “Faster Payments Imperative: Transforming the Market” on Oct. 6 in Chicago

August 17 – Federal Reserve Bank of Kansas City president and CEO Esther L. George will serve as the opening keynote speaker for the “Faster Payments Imperative: Transforming the Market,” a one-day symposium presented by PYMNTS.com and NACHA — The Electronic Payments Association®. The event will take place on Tuesday, Oct. 6, at the Hyatt McCormick Place in Chicago.

Continue reading “Federal Reserve Bank of Kansas City President and CEO to Keynote “Faster Payments Imperative: Transforming the Market” on Oct. 6 in Chicago” »

Infosys Finacle and Payveris to Partner on Payments Solutions

August 14 – Infosys Finacle, part of EdgeVerve Systems – a wholly owned product subsidiary of Infosys (NYSE:INFY) and Payveris, an online and mobile digital payments company headquartered in Connecticut – today announced a strategic partnership. The two entities will jointly provide integrated payment solutions to banks and credit unions throughout the United States. The offering will facilitate bill payments and innovative money movement services such as interbank transfers and person-to-person payments. Continue reading “Infosys Finacle and Payveris to Partner on Payments Solutions” »

Samsung Pay Enters U.S. Mobile Payments Fray

August 14 – Samsung has announced that its mobile payment feature, Samsung Pay, will launch in the U.S. Sept. 28. Samsung Pay works like Apple Pay in enabling users to pay with their mobile phones, and employs NFC, fingerprint verification and digital tokenization so that merchants can’t see users’ credit card numbers. But, in addition to NFC, Samsung Pay also uses magnetic secure transmission, which means it will work with a store’s standard credit card swipe reader. Continue reading “Samsung Pay Enters U.S. Mobile Payments Fray” »

NACHA CEO Janet O. Estep Named to Steering Committee of Federal Reserve’s Faster Payments Task Force

July 24 – The Electronic Payments Association President and CEO Janet O. Estep has been named as a member of the steering committee of the Federal Reserve’s Faster Payments Task Force.

Continue reading “NACHA CEO Janet O. Estep Named to Steering Committee of Federal Reserve’s Faster Payments Task Force” »

Matt Carberry of The Bancorp Joins the Federal Reserve Faster Payments Task Force

July 17 – The Bancorp is pleased to announce that Matt Carberry (Vice President, Business Development, Payment Acceptance), has joined the Federal Reserve’s Faster Payments Task Force.

Continue reading “Matt Carberry of The Bancorp Joins the Federal Reserve Faster Payments Task Force” »

Entryless Announces Entryless Seamless B2B Payments

June 26 – Closing the loop for SMB bill payment automation, Entryless has announced the addition of a payment system that extends the existing Entryless platform with a supplier payment system. To support their efforts, they have hired Sukanta Ganguly as CTO, a serial entrepreneur with experience in payments.

Continue reading “Entryless Announces Entryless Seamless B2B Payments” »

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