News about EMV.
September 16th, 2016
NFC World will host a free webinar on Thursday 13 October exploring how financial institutions can take control of their own mobile payment strategies to move beyond standard handset maker and card network schemes and…
September 13th, 2016
Nearly nine in ten Mastercard US consumer credit cards (88%) contained chips as of July 2016, representing a 105% increase in chip card adoption since the October 2015 liability shift, the payment network has revealed. “The company also sees 2m chip-active merchant locations on its network, a 468% increase in chip terminal adoption since 1 October 2015,” Mastercard says. “Two million merchants represent 33% of all US merchants.”
August 24th, 2016
NFC Ring has made its payments ring available to order worldwide, enabling wearers to make purchases with a tap of their finger at any contactless terminal.
August 18th, 2016
EMVCo has introduced a formal industry testing and certification process for contactless mobile payment devices. The new process “incorporates Level 1 tests traditionally managed by the individual payment systems,” the payments standards body says, “bringing…
August 16th, 2016
More than three quarters of US retailers (76%) plan to accept Apple Pay by the end of 2017, research released by the National Retail Federation and Forrester reveals.
August 10th, 2016
PARTNER NEWS: Visitors to the Rio 2016 Olympic and Paralympic Games are paying for journeys on buses, ferries and trains across the city with NFC wristbands provided by digital security giant Gemalto and public transportation ticketing operator RioCard.
August 10th, 2016
Eight out of ten Mastercard US consumer credit cards now include chips, representing an 88% increase in EMV adoption since the October 2015 liability shift. “The company also sees 1.7m chip-active merchant locations on its network, representing nearly 30% of the US merchant population and a 374% increase in chip terminal adoption since 1 October 2015,” Mastercard says.
July 21st, 2016
There were 326.8m chip cards in the US as of the end of June 2016, exceeding the number of people who live in the country, Visa has reported. “The US added more than 100,000 chip-enabled merchant locations in June, bringing the total to 1.3m, or about 28% of the total merchant population,” the payment network says. “More than three-quarters of those chip-ready locations are small and medium-sized businesses. In June, one in four dollars spent in-store on a Visa card was spent with a chip card in a chip terminal.” The number of Visa chip payment transactions hit 483m in June.
July 12th, 2016
EMVCo and the Fido Alliance have signed a memorandum of understanding (MoU) to review how Fido authentication standards can support EMV payment use cases. “A key aim of the initiative is to investigate providing simpler and stronger authentication for cardholders making mobile payments using on-device authenticators such as biometrics,” EMVCo says. “Initial activities will explore how Fido’s authentication protocol can be used to support EMVCo’s cardholder verification technology.”
July 8th, 2016
Customers who pay using NFC mobile payments are more likely to leave a tip, according to a survey by mobile POS provider Square. 73% of customers tipped when using NFC mobile payments compared to 71% who tipped using EMV and 67% who paid using magnetic stripe cards at the point of sale.
July 7th, 2016
PARTNER NEWS: Digital payment solutions provider Proxama is to supply transaction automation solutions provider Printec Group with its NFC mobile payment, PIN management, tokenization and EMV enablement solutions across Central and South-Eastern Europe.
July 6th, 2016
A 29-page white paper that explores the payment industry of Bangladesh and includes a detailed examination of its current systems, the evolution of alternative payment methods and the uptake of NFC, tokenization and EMV is now available to download from the NFC World+ Knowledge Centre.
June 28th, 2016
US supermarket chain Kroger has filed a lawsuit against Visa for allowing customers to verify EMV purchases with a signature instead of a PIN. “Kroger said the dispute began after it was informed by Visa that the configuration of its new terminals didn’t comply with Visa’s rules,” The Wall Street Journal reports. “Visa’s rules require merchants to allow customers to choose between a PIN and a signature verification.” Walmart also sued the payment network for its EMV signature authentication option in May 2016.
June 24th, 2016
Discover has unveiled Discover Quick Chip, a new option for merchants to streamline the checkout process when customers pay with cards. “Discover Quick Chip will reduce the time a chip card needs to remain in the point of sale terminal, making the checkout process more convenient for merchants and cardholders,” the card network says. American Express also unveiled a similar offering earlier this month. Visa originally unveiled a feature designed to streamline EMV transactions in April 2016, closely followed by MasterCard.
June 23rd, 2016
Some 35% of all card-present transactions conducted globally between January and December 2015 used the EMV chip card standard, up from 32% in 2014, standards body EMVCo has revealed. The number of EMV payment cards in global circulation also increased by 1.4bn to 4.8bn over the 12-month period.
June 15th, 2016
American Express has unveiled Amex Quick Chip, a technology that enables merchants to provide cardmembers with a “more seamless” experience when paying with their EMV chip cards at the point of sale. “With Amex Quick Chip, cardmembers can dip their card during the checkout process and remove it before the transaction is completed,” American Express says. “Amex Quick Chip is available to merchant processors which may deploy the service to interested US merchants through a software update.” Visa unveiled a similar service in April 2016, closely followed by MasterCard.
June 15th, 2016
Commuters across Bengaluru in India will soon be able to pay for travel on buses operated by Bengaluru Metropolitan Transport Corporation (BMTC) with a tap of an open loop contactless card provided by Axis Bank….
May 26th, 2016
MasterCard is working with other payment networks, acquirers and processors to develop a standard that will reduce EMV checkout times. “These efforts will be based on the company’s M/Chip Fast solution,” MasterCard says. “It builds on the principles of contactless or tap and go technology, helping to speed EMV transactions and shoppers through checkout lines. Testing and certification for M/Chip Fast is streamlined for efficient adoption.” The company unveiled M/Chip Fast in April 2016.
May 19th, 2016
Fitness wristband maker Fitbit has acquired the wearable payment assets of connected device maker Coin in a move that will enable the company to add NFC payment capability to its future devices.
May 13th, 2016
A white paper that sets out the advantages of bringing outsourced or delegated EMV card processing back in-house and explains how taking an integrated approach to physical and digital card issuing and processing will deliver cost savings is now available to download from the NFC World+ Knowledge Centre. ‘The Case for In-Sourcing EMV’ has been produced by Proxama and aims to help clarify the benefits of in-house processing to card issuers.