Payments Source

SEPTEMBER 13, 2016

New Orleans--As credit and debit card issuers start to see the benefits of EMV-chip card security, prepaid would seem to be the logical next step. But prepaid issuers remain unconvinced of the security benefits of EMV.

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Payments Source

AUGUST 9, 2016

Card manufacturer Oberthur Technologies is offering issuers facing a shortage of EMV chip cards an option to receive as many as 25,000 in five days, rather than waiting the standard three to four weeks.

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PYMNTS

JULY 6, 2018

billion payment chip cards were shipped worldwide in 2017. While shipment volumes in China and the United States “continue to normalize,” contactless payment cards are more than 70 percent of shipments in “a growing number of territories,” the association said in an announcement. marking a twofold increase over 2014.

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PYMNTS

MAY 26, 2016

EMV adoption rate by merchants and issuers. Million | The number of chip-active merchant locations as of April 30, 2016. issued, MasterCard-branded chip-enabled consumer credit cards. 39 | The percentage by which counterfeit card fraud basis points at EMV-enabled merchants dropped between January 2015 and January 2016.

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Payments Source

JANUARY 31, 2017

The EMV migration includes support for chip cards and NFC contactless payments, giving banks room to compete in the contactless payments market just in time for wearables to take off.

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Issuers Chip Cards Contactless Payments EMV 60

FICO

APRIL 3, 2018

While adoption of the EMV payment standard in the US (as embodied in chip cards and panic at the checkout ) has been slow, fraudsters’ gravitation to card not present (CNP) fraud has been anything but. Two and a half years after the liability shift from issuers to merchants (i.e.,

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Fraud Detection EMV Issuers Chip Cards 85

Payments Source

DECEMBER 26, 2016

payment card market prompted many issuers to keep things simple by sticking with contact-only chip cards when they finally moved to support EMV, but now certain issuers are taking a new tack by adding Near Field Communication technology to their chip-enabled cards. The large scale of the U.S.

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EMV Chip Cards CHIPS Issuers 60

PYMNTS

FEBRUARY 3, 2017

Consumers might have felt a bit safer using their credit card with the introduction of EMV chip technology, but thieves looking to steal your information have managed to find a way to still gain access to PIN numbers, as well as your card’s chip in some cases. The majority of that theft was from credit cards.

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Payments Source

APRIL 21, 2016

Issuers still have a choice of whether to require PIN authentication for EMV-chip cards, but David Nelms, chairman and CEO of Discover Financial Services, says the chip-and-PIN path increasingly makes the most sense for U.S. payment cards going forward.

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PYMNTS

SEPTEMBER 19, 2016

Part of that deployment reluctance on the part of the merchant, said Gumbley, can be traced to the vagaries of the consumer experience, where transaction times using chip cards can last anywhere from a few seconds to “multiple 30-second increments,” a range that can be disconcerting and confusing. And they need to, Gumbley said.

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EMV Chip Cards CHIPS Issuers 78

The Paypers

AUGUST 15, 2017

(The Paypers) The 2017 Debit Issuer Study commission by PULSE has shown a decrease in debit fraud loss after US financial institutions increase issuance of chip debit cards in 2016.

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Debit Card CHIPS Chip Cards Issuers 31

PYMNTS

OCTOBER 22, 2020

s struggles toward universal adoption in the European Union is reminiscent of EMV chip cards’ rise — a similar journey that aimed to solve a different fraud problem. When the card networks first started mandating EMV, McCutcheon said, there was heavy resistance. Why 3DS 2.0 Is (And Isn’t) Like Putting EMV Into Place .

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EMV CHIPS Point-of-Sale (POS) Push-to-Card 88

PYMNTS

JUNE 17, 2016

Today, there are 300 million chip cards in circulation and 1.2 It’s also the first to say that there could and should be more places for consumers to use their chip cards. payments landscape, Visa will also limit the number of transactions issuers can chargeback to merchants (and their acquirers) until April 2018.

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EMV CHIPS Chip Cards VARS 50

PYMNTS

JUNE 6, 2019

don’t rely on swiping or chip card readers. cards use chip-and-signature and chip-and-PIN methods. Card issuers have been slow to release contactless cards due to limited acceptance at the point of sale. JPMorgan Chase will roll out new Visa-branded contactless EMV cards this year.

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Contactless Payments Chip Cards EMV Card Issuer 56

PYMNTS

JUNE 16, 2016

Earlier today Visa announced a handful of new moves aimed at pushing EMV chip adoption among merchants. We’ve taken steps to simplify the process as much as possible and help reduce any challenges so merchants can move forward with chip adoption quickly.”. After that point, the issuer picks up liability.

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Clearly Payments

DECEMBER 2, 2024

This involves using a physical point-of-sale (POS) terminal to process card payments. How It Works The customer swipes, inserts, or taps their card on the POS device. The terminal communicates with the card issuer to approve the payment. Accepts contactless and EMV chip cards , which are more secure than magnetic stripes.

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Credit Cards Payment Gateways Gateways Point-of-Sale (POS) 105

PYMNTS

JUNE 23, 2016

Amex will also limit the number of counterfeit fraud chargebacks to a total of 10 per card account. Under these new policies, the card issuer, instead of the merchant, will cover the liability for the additional counterfeit fraud transaction disputed from a card account after those 10 chargebacks.

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PYMNTS

JUNE 20, 2016

The move has been complicated by the combination of most merchants getting a very late start to the EMV process – the Target breach was what many merchants considered their official starting line despite announcements by the card networks years earlier – and a complicated certification process that’s been tough for some merchants to navigate.

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EMV Visa Chip Cards VARS 45

PYMNTS

JUNE 6, 2016

. “We announced the liability shift four-plus years in advance of the date in August 2011, knowing that much of the rest of the world had already invested in chip technology and that there were quite a few suppliers that had chip technology in their terminals and also chip capable card technology available,” she said.”

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PYMNTS

AUGUST 15, 2018

can now process chip cards in just two seconds on Square Reader, for contactless and chip, and Square Register. Since chip cards arrived in the U.S., The new technology enables cardholders to remove their card immediately once the reading is complete without waiting for the issuer to respond.

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PYMNTS

NOVEMBER 30, 2018

It’s not as prevalent in the United States, however, as many card issuers don’t give customers the contactless option. Nicola Masters, director of The Grand Appeal, said that because contactless transactions overtook chip and PIN payments in the U.K., that we have seen in the rest of the world,” Sanford said.

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PYMNTS

OCTOBER 14, 2019

don’t rely on swiping or chip card readers. cards use chip-and-signature and chip-and-PIN methods. Card issuers have been slow to release contactless cards due to limited acceptance at the point-of-sale. According to payment gateway NMI, just 3 percent of payments in the U.S.

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Contactless Payments Debit Card CHIPS Credit Cards 58

FICO

MARCH 29, 2017

That means we’ll continue to see compromises - and card fraud - rise. As ATMs aren’t yet required to be chip-card enabled, the EMV adoption that came into force last year isn’t driving fraud down yet. If your plastic card is captured inside of an ATM, call your card issuer immediately to report it.

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ATM Debit Card Compromise Point-of-Sale (POS) 72

PYMNTS

SEPTEMBER 30, 2016

Nationwide, there are roughly 2 million chip-enabled businesses, and 1.3 Additionally, according to newly released data from Cayan, consumers are getting increasingly used to using EMV in their day-to-day lives — 42 percent of consumers use chip cards three or more times per week while shopping. EMV is not only for the big guys.

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PYMNTS

AUGUST 3, 2016

consumer credit cards are now enabled with chips, marking an 88 percent increase in chip card adoption since the Oct. million chip-active merchant locations, which make up approximately 30 percent of the total merchant population in the U.S. Today, Mastercard announced that 80 percent of its U.S.

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EMV Visa CHIPS Chip Cards 43

PYMNTS

SEPTEMBER 14, 2017

As chip-card adoption and online sales increase, fraudsters are looking to the internet for prey, which means that card-not-present (CNP) fraud will continue to rise,” said ICBA Bancard President and CEO Tina Giorgio in the press release.

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Authentication Community Banks Chip Cards Issuers 51

PYMNTS

JULY 21, 2017

Just as payment methods are varied, so too are the ways that people pay, and whether, given a certain locale, they prefer paper (cash) over plastic (via mag stripe or chip card), or mobile over interactions with the cashier — these differences color fraud as well. Fraud varies country to country, region to region.

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Chip Cards EMV CHIPS Issuers 46

The Payments Association

OCTOBER 4, 2024

Traditional card issuers and networks must adapt or risk obsolescence. Technological disruption and innovation The rapid pace of technological change is both a challenge and an opportunity for the card payment industry.

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Online and Mobile Banking Cross-Border Payments Cross-Border Alternative Payment Methods 88

PYMNTS

FEBRUARY 10, 2017

Despite the growing usage of EMV chip card technology to help safeguard payment card data at the point of sale (POS), cybercriminals are turning to devices called “shimmers” to read card numbers and possibly access a card’s chip and obtain the PIN.

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Fintech Labs Insights

JULY 21, 2015

Last week I received new credit cards from US Bank and Capital One, both containing microchips to support EMV terminals, the global standard finally rolling out in the United States over the next few years. Given the world’s obsession with tech, it’s a good time for issuers to toot their own horns a bit.

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PYMNTS

APRIL 28, 2016

is soaring the global demand for smart payment cards by as much as 34 percent, a new Smart Payment Association (SPA) report has found. billion chip cards were supplied — of which, 570 million were shipped to the U.S., The shift to EMV in the U.S. Last year alone, over 2.06 marking a twofold increase over 2014.

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EMV CHIPS Chip Cards Contactless Payments 41

PYMNTS

NOVEMBER 12, 2020

There’s also the safety of using debit in contactless payments, he said, where issuers had, fortuitously from a timing perspective, accelerated their issuance of contactless cards coming into 2020 and before the age of COVID-19. Use of debit in eCommerce has accelerated during the pandemic.

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Debit Card Point-of-Sale (POS) Issuers P2P 64

PYMNTS

JUNE 19, 2017

The malware lifted data from magnetic stripes on payment cards, in some cases possibly including name, number and expiration date. All Buckle stores had chip technology installed at the point of sale during the time of the incidents, limiting exposure for customers paying that way. There is no evidence that online guests were affected.

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PYMNTS

JANUARY 30, 2017

And chip cards keep eating away at counterfeit fraud — news that might be somewhat more joy-inducing were it not also the case that data breaches hit their all-time high in 2016 as well. Counterfeit fraud has dropped by 52 percent at merchants that are using chip-enabled cards. increased 92 percent to 408.1

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Chip Cards CHIPS Data Breach Breach 43

PYMNTS

OCTOBER 14, 2019

don’t rely on swiping or chip card readers. cards use chip-and-signature and chip-and-PIN methods. Card issuers have been slow to release contactless cards due to limited acceptance at the point-of-sale. According to payment gateway NMI, just 3 percent of payments in the U.S.

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Contactless Payments Continuity Debit Card CHIPS 49

PYMNTS

JANUARY 13, 2020

The launch of EMV chip cards in the U.S. Despite their success, the use of EMV cards with no required PIN codes has left a door unlocked for crooks. The heightened risk to merchants and issuers is being keenly felt – someone pays when cybercrooks succeed, and it’s often the retailer. It’s not all good news.

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EMV Data Breach Chip Cards Push-to-Card 54

Stax

NOVEMBER 13, 2023

Since the first plastic credit card was issued by American Express in 1959 , payment tech progress has been growing exponentially. EMV chip card technology had a good two decades or so, beginning in the mid-’90s. It’s universally compatible Unlike the chip card and magnetic stripe, NFC technology is standardized.

Contactless Payments 88

Contactless Payments Push-to-Card Online and Mobile Banking Encryption 88