Payments News

On The Web

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Standards

As a Deadline Nears, TNS Offers Deferred Payments for Installing EMV at the Pump

“With gas stations and convenience stores feeling the economic pinch from the slowdown in sales caused by the Covid-19 pandemic and uncertainty over the economy, Transaction Network Services Inc. announced a new pricing structure to help cut station owners’ telecom-network installation costs for EMV at the pump. Transaction Networks Services (TNS) will defer monthly payments at […]
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Standards

Is Your Chip Card Secure? Much Depends on Where You Bank

“Chip-based credit and debit cards are designed to make it infeasible for skimming devices or malware to clone your card when you pay for something by dipping the chip instead of swiping the stripe. But a recent series of malware attacks on U.S.-based merchants suggest thieves are exploiting weaknesses in how certain financial institutions have […]
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Standards

The US EMV Chip Card Count Surpasses 1 Billion

“Four years after the EMV chip card standard became the law of the U.S. payments land, the number of credit and debit cards with an EMV chip now exceeds 1 billion, and 63% of U.S. card-present transactions in 2019 involved an EMV card being read by an EMV-capable terminal, up from 53.5% in 2018. Those […]
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Standards

Counterfeit Fraud Declines Sharply In US Since Shift To Chip Cards: Visa

“Visa has published a new infographic that revealed a 76% decline in counterfeit fraud from December 2015 to December 2017 due to increased EMV chip cards and chip-enabled merchants in the US. The company noted that it registered growth across the number of chip cards and chip-enabled merchants, payment and transaction volume even during the […]

On The Wires

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Standards

New ACI Worldwide Data Shows Nearly 50 Percent of Major Fuel Merchants are Currently Unprepared to Meet Extended EMV Deadline

“New data from ACI Worldwide, a leading global provider of real-time digital payment software and solutions, highlights that as of July 2020, nearly 50 percent (47%) of major fuel merchants are unprepared to meet EMV automated fuel dispenser (AFD) compliance by the new April 2021 deadline (extended from October 2020) with less than half their […]
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Standards

EMVCo Publishes Updated Guidelines for Using EMV® Secure Remote Commerce Specifications and Icon

“Technical body EMVCo has confirmed that consumer-facing solutions and programmes based on the EMV® Secure Remote Commerce (SRC) Specifications are to be known as Click to Pay. This universal description enables ease of recognition for consumers, and signals that a consumer can confidently transact through an easy e-checkout, regardless of the payment card, digital channel […]
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Security

Gilbarco Veeder-Root Announces Exclusive EMV Dispenser Program For Chevron And Texaco Marketers And Retailers

“With EMV hardware becoming rapidly utilized at dispensers and the release of software to initiate chip payments beginning, Chevron worked with Gilbarco Veeder-Root to offer this limited-time program to help retailers protect their customers and sites from fraudulent events. This program is also an opportunity for retailers to work directly with their local Gilbarco Veeder-Root […]