Do you have a gas station? Have you already converted to EMV chip card acceptance? Maybe you’re just planning to offer EMV chip card acceptance, aren’t you? Just read this article and you’ll learn more about the acceptance of these cards. Gas Stations Convert to EMV Chip Cards Unattended gas pumps might serve as a great use case for the...
The nationwide adoption of EMV chip cards and processing technology brought a major change in the US. This was something different from what people used to have – mag stripe cards. Are you a merchant interested in EMB fraud liability in the US? Just keep on reading this article and you’ll learn more about it. EMV Liability Shift in the...
Recently, there has been some confusion over PIN debit and EMV. Still trying to figure out the many changes taking place with EMV, many merchants have made enquiries to add PIN debit to their existing merchant account. If the difference between EMV and PIN debit has confused you as well, the following explanation will help clear things up for you....
EMV (Europay, MasterCard, and Visa) chip card payments at the US point of sale (POS) are now 2 years’ old (October 2015) at least officially. However, according to a poll of consumers and retailers by a Boston-based merchant processor, consumers think purchases are still being processed slowly; many merchants still don’t accept chip cards. Merchants’ and Consumers’ Views on EMV...
While an overwhelming number of retailers in the United States are still pacing the shift to the use of EMVs, another persuasive tech has hit the market. Most retailers are still lagging behind as they should have ditched the use of TLS 1.0 as their primary transaction security protocol which is set to expire in around ten months. Failure to...
Merchants successfully deal with payment methods but have some problems in some key areas. Particularly, they have difficulty identifying overseas transactions, according to recent survey results by a risk management firm. The survey was conducted online between April and June. More than 800 merchants in some 29 industries participated in the survey. The revenue generated by these merchants ranged from...
The US conversion to EMV is almost 2 years old now. What major issues are involved with the process of adoption? Below you can read several important points associated with some side effects regarding EMV technology: EMV chip cards were first tested 20 years ago. They were developed for offline authorizations in the European market and not designed to fit...
The US decided to switch to EMV chip cards in October 2015. In 2016, e-commerce fraud rates grew by 33%, according to Experian, a global information services group After the EMV Liability Shift In 2016, the Strawhecker Group, a management consulting company focused on the payments industry, found that 29% of card-present merchants were already using an EMV-compliant terminal and...
Taken globally, the electronic payments industry is almost as fragmented as the mobile messaging industry for platforms like WeChat (China), Line (Japan), Viber (Philippines), and others. In North America, PayPal and its subsidiaries Venmo and Braintree play a dominant role in the electronic payments market. In Africa, Kenya’s M-PESA is the top player. It serves as a means of economic...
As soon as the retailer accepts the transaction, the information has to be transmitted to a verified payment processor to be completed. A payment processor completes the transaction by sending data between the merchant, the merchant’s bank, the consumer’s card and their bank. A payment processor is the company providing the hardware at a storefront location. A payment processing partner...
