Merchants and Consumers on EMV Credit Card Processing

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’

The US Conversion to EMV And Its Side Effects

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

Smart Cards And Chips. How Do They Protect You?

In 2016, new chip debit and credit cards were issued to consumers by major financial institutions. According to the US Payments Forum, 600 million cards have been issued. How do these chip cards protect consumers? EMV (Europay/MasterCard/Visa) chip cards are designed to protect you from data breaches. The system has been used in European countries

EMV Pin and Chip Card Dilemma in the United States

As the October 2015 deadline looms for card issuers to deploy EMV pin and chip cards, a major United States issuer has elected not to use the traditional European chips that protects consumers from fraud. A new study by Aite Group reveals that most banks and issuers in the United States will use chip–and- signature

Retailers and Card Issuers Running Out of Time on EMV Chip Card Implementation

Recent security breaches of major retailers like Target and Neiman Marcus, has pushed the conversation over EMV chip card implementation into action. Still experts predict that EMV-chip technology will not become commonplace in the United States until the year 2018. Nick Holland, senior analyst for payments with Javelin Strategy & Research, says that despite a

EMV Implementation Deadline is Fast Approaching

EMV is set to hit America with a deadline of 2015. EMV, which stands for Europay, MasterCard® and Visa®, is designed to reduce the opportunities for card payment fraud. According to PNC Merchant Services Company, It is “Chip-embedded payment cards are nearly impossible to duplicate, and when combined with additional layers of security–such as encryption,

Debit Networks End EMV Stalemate with Issuers, Adopt MasterCard/Visa Common AID Solutions

Major U.S. debit networks have been discussing a solution to the Durbin Amendment/EMV issue, to avoid using the proprietary solutions by card brands like MasterCard and Visa. Technological limitations on the applications that reside on the chips of an EMV card, which enables it to be run as debit or credit, limit the path a