Post Tagged with: "EMV"

Faster Chip Payments Standard Is in the Works, MasterCard Says

Faster Chip Payments Standard Is in the Works, MasterCard Says

by May 26, 2016 at 5:14 pm 1 comment

The payment networks are coming together to work on a standard for speedier EMV transactions. As part of that effort, MasterCard is making its M/Chip Fast technology “available to all parties” involved, including other payment networks, acquirers, and processors, Chiro Aikat, senior vice president of product delivery, told Bank Innovation.Read More

Visa and MasterCard Offer Faster EMV

Visa and MasterCard Offer Faster EMV

by April 27, 2016 at 12:57 pm 2 comments

People called, and MasterCard and Visa answered. In the past week, both card networks announced updates to their point-of-sale systems that promise to reduce the time it takes to use an EMV chip-enabled card at the checkout line. Cue cheering crowds. Visa released its new technology, dubbed Quick Chip, last week, claimingRead More

Ahead of New IPhone Announcement, More Bad News for Apple Pay

Ahead of New IPhone Announcement, More Bad News for Apple Pay

by March 21, 2016 at 11:34 am 0 comments

The pain associated with EMV transactions — slowness, grouchy salespeople, confused customers in the line ahead of you — was supposed to be a good thing for mobile payments. It hasn’t turned out that way. While first time usage of Apple Pay is up, repeat usage is down, according toRead More

Payments Predictions 2016: Faster Payments, M&A, and a Blockchain Breakthrough

Payments Predictions 2016: Faster Payments, M&A, and a Blockchain Breakthrough

by February 2, 2016 at 10:46 am 1 comment

Peter Drucker once famously stated “Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window.”  With this in mind, yet nonetheless undaunted, Carlisle & Gallagher Consulting Group decided to go for a proverbial drive downRead More

Hackers Can Disable EMV Transactions to Force a Swipe [VIDEO]

Hackers Can Disable EMV Transactions to Force a Swipe [VIDEO]

by December 29, 2015 at 5:27 pm 0 comments

Fraud is headed online to card-not-present transactions, right? Sure, but hackers have figured out ways to get around more secure chip card transactions at the point of sale, too. Simply put, “magstripe backward compatibility” is a problem. We’ve all had the experience dozens of times by now: the POS doesn’t have theRead More

EMV, Designed to Solve a Problem, May Cause More Bank-Merchant Squabbling

EMV, Designed to Solve a Problem, May Cause More Bank-Merchant Squabbling

by December 7, 2015 at 12:58 pm 3 comments

By now, everyone’s had the experience of presenting a chip card at a point of sale only to be told to swipe the card, because the chip reader “doesn’t work” or “is down.” It may not make much difference to consumers, but merchants are now liable for fraud that occursRead More

Visa Europe Hits 1.1 Billion of Contactless Transactions

Visa Europe Hits 1.1 Billion of Contactless Transactions

by September 10, 2015 at 11:14 am 0 comments

Visa Europe has “just reached” 1.1 billion contactless transactions on the Continent in the past 12 months, the payments network disclosed today. Visa Europe made the revelation as it announced that it was chosen to provide contactless payments to Carrefour in Belgium. Carrefour is one of the major supermarket chains inRead More

Coin 2.0 Lacking [VIDEO]

Coin 2.0 Lacking [VIDEO]

by August 28, 2015 at 10:39 am 1 comment

Coin, the card aggregation device, introduced its version 2.0 device with NFC capabilities a couple of days ago, and it is, well, lacking. Below is a demo of the device. Coin 2.0 reportedly started shipping on August 26 “to all backers.” The company originally said it would start 2.0 shipments last April. The upgradeRead More

MasterCard Paints Sunny Picture of EMV Liability Shift

MasterCard Paints Sunny Picture of EMV Liability Shift

by August 19, 2015 at 1:39 pm 0 comments

As the EMV liability shift approaches, the pressure is on both retailers and banks. Retailers need to upgrade their point-of-sale equipment, while banks need to get chip cards in the hands of customers. Chip card technology and the encryption that protects its transactions, will be the foundation of all future payments, accordingRead More

Simple Eschews Data Analysis on Card Re-Issuance

Simple Eschews Data Analysis on Card Re-Issuance

by August 11, 2015 at 11:27 am 0 comments

Simple is often held up as a paradigmatic digital bank. After all, it was one of the first digital-only banking concerns in the world. Which is why it is somewhat surprising to learn that the banking venture, now a subsidiary of BBVA, does not use its rich data for somethingRead More