Tripling in One Year, Visa Chip Card Transactions Surpass 1 Billion in March

Source: Tripling in One Year, Visa Chip Card Transactions Surpass 1 Billion in March

Visa’s ‘Quick Chip’ EMV Gets a Chance to Sway Merchants

Visa announced Quick Chip four months ago, but until today the card brand has not had a place to showcase its faster EMV technology to merchants who feel burdened by the EMV payment process. With the New Leaf grocery store chain in the San Francisco area becoming the first retailer in the U.S. to use […]

Want a Killer Wallet App? Forget About Rewards.

Despite improvements in technology, most consumers remain skeptical of mobile wallets, often testing them once or twice before abandoning the idea and returning to traditional payment methods. So what feature will finally make a “killer” mobile wallet app? It won’t be rewards. Rewards cards are frequently used as the payment vehicle for mobile wallets; however, […]

Chargeback Policy Changes – What Are They and How Did We Get Here?

Chargebacks to merchants have become a hot topic of late. And for good reason. According to a recent report by First Annapolis Consulting, chargebacks for card-present transactions increased 50% following the October 1 EMV liability shift. While this took merchants by surprise, it did not surprise issuers who, until the October 2015 liability shift for […]

Walmart Pay’s National Rollout Validates Mega-Retailer’s Strategy

Seven months after revealing its branded mobile payment app, Walmart is making Walmart Pay available in more than 4,600 of its stores throughout the U.S., with early figures indicating consumers approve of its “connected” app model. In establishing Walmart Pay as a mobile payment option within its broader menu of mobile services, the retail giant […]

Swifter EMV Certification Will Aid Chip Card Transition—And Terminal Makers

Getting point-of-sale terminals through the EMV-certification process should become a bit quicker thanks to the card brands’ efforts to “streamline” the testing process. That should bode well for POS terminal maker VeriFone Systems Inc., says Vin D’Agostino, executive vice president of VeriFone Services.   MasterCard Inc. and Visa Inc. separately announced programs that would hand […]

Banks Step Up Push to Repeal Durbin Amendment

More than fifty state bankers associations have rallied behind legislation from Rep. Randy Neugebauer, R-Texas, to repeal caps on debit interchange fees. The groups argue in a letter Friday to Neugebaurer and other members of the House Financial Services Committee that an amendment added to the Dodd-Frank Act by Sen. Richard Durbin, D-Ill., failed to help […]

As Signature EMV Draws Merchants’ Ire, Industry Opinion May Be on Their Side

Merchants, in their argument for PIN rather than signature authentication for EMV chip card transactions, may have industry opinion on their side.   According to an informal poll conducted this week by Digital Transactions News, two-thirds of readers agree that the merchants suing the card networks over the issue have a case. The remainder say […]

Most Small Businesses Still Don’t Understand the Ramifications of EMV

For the first time, retailers are facing sizable costs for counterfeit transactions but still not taking measures to mitigate their own risk, raising the question – after six months, how effective is EMV in the U.S.? Target, Home Depot, Wal-Mart and some other large merchants are now processing chip transactions, but there are still plenty of […]

It Is Possible for Merchants to Accelerate Chip Card Acceptance

Despite some early success, it can’t be ignored that there are still many merchants that cannot accept EMV chip cards. That’s not because they haven’t started their migration, but because the payments applications developed by their VAR, ISO and ISV partners or themselves have not yet been certified. Now, merchants are starting to see their […]