EMV card-on-file payment tokenization is set to both reduce online fraud and deliver a range of benefits to merchants but implementation will not be straightforward, Rambus explains in a new paper that sets out the advantages of using a token gateway to simplify the integration and management process... More
EMV
Rambus explains how online merchants can use card-on-file EMV tokenization to reduce fraud and improve the online payments experience
Card-on-file EMV tokenization, where primary account numbers (PANs) stored in a card-on-file database are replaced with payment tokens that can be restricted to a specific retailer, offers online merchants a way to both increase security and create a near frictionless buying experience, Rambus explains in a new ebook which is available to download from the NFC World Knowledge Centre... More
Boston Fed reports on the current status of payment tokenization in the USA
Industry perspectives on the evolution of EMV payment tokenization — Federal Reserve Bank of Boston — “This white paper examines payment tokenization changes and impacts to the payments industry since 2014. The research represents the authors’ views with input from Mobile Payment Industry Workgroup (MPIW) members and qualitative interviews with key industry stakeholders.”
Rambus gets Visa Ready certification for its ecommerce token gateway
PARTNER NEWS: Online merchants, payment service providers and acquirers can now use the Rambus Token Gateway to tokenize card-on-file ecommerce transactions, enabling sensitive cardholder payment data to be replaced with secure tokens and removing the need for consumers to update their card details following a card reissue... More
Japanese bank to roll out payment cards with built-in display and keypad
GMO Aozora Net Bank Ltd and Dynamics Inc introduce Japan’s first battery-powered interactive debit and cash card — Dynamics — “A consumer enters a pass code, known only to the consumer, into the keypad on the face of the card. The correct pass code turns the card on so that it can be used in any swipe, tap, or insertion reader via a magnetic stripe, contact or contactless EMV chip. Entering the correct pass code also activates the card’s display to show the consumer’s payment card number.”
Worldpay shows how delivery drones could make use of contactless payments
Drone delivery ready to take off in the UK — Worldpay — “Worldpay’s Drone Pay proof-of-concept uses EMV contactless payment card technology to verify the identity of the recipient, ensuring a parcel is delivered to the right person at the right address. This technology is embedded into a drone landing pad, which is issued to the customer in the form of a doormat. When the drone lands to drop off the package, the card details stored within the doormat are read automatically. If the information matches that of the correct recipient, the parcel is released.”
Reader offer: Get a free ‘POS terminal in a box’ dev kit from STMicroelectronics
PARTNER NEWS: STMicroelectronics has 10 developer kits for its new contactless payments ‘in a box’ reference design available for NFC World readers to request free of charge... More
SPA white paper examines the potential of bank cards with built-in biometric sensors
KNOWLEDGE CENTRE: Biometric sensor-on-card solutions, where a fingerprint sensor is built into a standard EMV card, “represent an important step forward for the finance industry, opening the way to eliminating fraud for issuers and cardholders, reducing costs and providing the additional security and identity verification required to support remote or cross-border transactions,” the authors of a new white paper conclude... More
ST offers contactless payments terminal ‘in a box’
PARTNER NEWS: STMicroelectronics has released a contactless payment terminal reference design that can be used to quickly build EMV-compliant POS terminals “by making the exhaustive EMVCo certification process easier and faster than ever before.”... More
Italian merchants to pilot PIN-on-mobile payments
Ingenico and Nexi test in Italy an innovative PIN-on-mobile solution compliant with Visa and Mastercard requirements — Ingenico — “With PIN-on-mobile, card owners manually enter their PIN on a non PCI-PTS device owned by a merchant, such as a smartphone or tablet. The transactions are considered as ‘card present’… This solution will be on a six-month trial period and the pilot project will include 1000+ secure card readers (SCR) to read EMV and contactless bank cards.”
EMVCo releases QR Payment Mark
EMVCo has developed a QR Payment Mark that can be used by merchants to indicate that they accept mobile payments which conform to the standards body’s QR Code payment specifications... More
PCI updates payment device standard to support PIN entry on mobile phones and tablets
PCI Security Standards Council updates payment device standard to support software-based PIN entry on COTS — PCI Security Standards Council — “The updated device standard supports the development of PCI software-based PIN entry on COTS (SPoC) solutions for merchants that enable EMV contact and contactless transactions with PIN entry on commercial off-the-shelf (COTS) devices, such as tablets and smartphones.”
Mastercard issues timeline for contactless card and POS terminal mandates
Betting on contactless: Mastercard pushes chips to center of table — Mastercard — “After October 2018, all new acceptance terminals in Europe, the Middle East, Africa, Latin America and Asia Pacific will have EMV chip and contactless enabled; After April 2019, all new cards issued in Europe, the Middle East, Africa, Latin America and Asia Pacific will have EMV chip and contactless technology; and by April 2023, all merchant terminals in Europe, the Middle East, Africa, and Latin America will be EMV chip and contactless enabled.”
PCI publishes specifications for PIN entry on mobile phones and tablets
PCI Security Standards Council publishes security requirements for software-based PIN entry on COTS devices — PCI Security Standards Council — “The PCI Software-Based Pin Entry on Cots (SPoC) standard provides requirements for developing secure solutions that enable EMV contact and contactless transactions with pin entry on the merchant’s consumer device using a secure pin entry application in combination with a Secure Card Reader for Pin (SCRP).”
Bank of Cyprus to issue biometric cards to customers
Gemalto launches the first biometric EMV card for contactless payments — Gemalto — “When customers place their fingerprint on the sensor, a comparison is performed between the scanned fingerprint and the reference biometric data securely stored in the card. The biometric sensor card is powered by the payment terminal and does not require an embedded battery; this means there is no limit from battery life nor on the number of transactions.”
Visa reports 66% drop in fraud at US merchants equipped to accept chip cards
Counterfeit fraud at US chip-enabled merchants down 66% — Visa — “With EMV chip transactions continuing to grow in the US, counterfeit fraud volume decreased 66% at chip-enabled merchants in June 2017 compared to June 2015. US financial institutions have issued 462m chip cards to consumers, and 2.5m, or 55% of US storefronts, accept chip cards.”
AmEx drops signature requirement for transactions in US stores
AmEx joins Mastercard and Discover in dumping signature requirement — Bloomberg — “AmEx will no longer require customers to sign at checkout for credit- or debit-card purchases beginning in April 2018… Mastercard and Discover dropped the requirement this year, leaving Visa Inc as the only large US payments network that hasn’t rescinded its policy.”
Six in ten card present transactions are now made with an EMV chip card
59% of card-present transactions globally use EMV chip technology — EMVCo — “58.9% of card-present contact and contactless transactions globally were EMV-enabled between July 2016 and June 2017. This represents an increase over the prior year, when 42.4% of transactions were EMV-enabled… The United States experienced the largest year-over-year increase, with 31.4% of transactions being EMV-enabled, compared to 7.2% in the same period the prior year.”
Black Friday figures show US consumers are moving to EMV but mobile payments usage remains low
Dip, swipe or tap? How consumers paid on Black Friday, by the numbers — Cayan — “Our study found EMV to be the most popular payment method: 73% of shoppers paid with their chip cards while 18% paid with magstripe… Only 1% of shoppers opted to pay with their phones, up from just 0.6% in 2016.”
Eftpos launches Android Pay in Australia
Rambus teams with Eftpos for Android Pay in Australia — Rambus — PARTNER NEWS — “‘With more than 40m debit cards distributed across Australia, Eftpos is one of the most popular payment methods,’ said Bret Sewell, SVP and general manager, Rambus Security division. ‘This collaboration with Eftpos enables millions of consumers the opportunity to enjoy secure mobile payments using Android Pay, leveraging our proven host card emulation (HCE) and EMV tokenization software for truly trusted transactions.’”