Verifone EMV Articles September 2016

Verifone EMV Articles September 2016

The PCI Council Beefs Up Its Rules for Thwarting Data Thefts From Payment Devices | By: Digital Transactions
As malicious technologies continue to advance, PCI has developed security updates to keep ahead of fraudsters. The new Version 5.0 of PCI’s standards document summarizing the changes to PTS and POI can be found here.

Brits Trust Banks to Deliver Biometric Future | By: Visa Europe
Earlier this year, Visa commissioned the Biometric Payments research that suggests consumer approval. 64% of respondents want to employ biometrics as a method of payment authentication. Of the common biometric authentication options, fingerprint recognition triumphs over iris-scanning and facial recognition.

Deloitte Forecasts 2016 Retail Holiday Sales to Increase 3.6 to 4 Percent | By: The Green Sheet
The strong U.S. labor market suggests that consumer spending will modestly increase this holiday period. Economists predict total holiday sales to exceed $1 trillion, an increase of 3.6% – 4% from last year’s numbers with an emphasis in e-commerce sales. 

EMV-Accepting Merchant Tally at 2 Million: Mastercard | By: Digital Transactions
New EMV adoption numbers are in! Eleven months after the liability shift date and over 2 million merchants have turned on EMV at the checkout, an impressive 468% increase since October 1st. As of July 2016, over 88% of Mastercard credit cards in circulation are equipped with chip technology.

Mastercard also expanded to 2-series BIN cards, visit their website for more details.

NFC Forum Forms Partnerships with Three Industry Consortia | By: The Green Sheet
As Near Field Communication (NFC) becomes more pervasive in a consumer’s life, NFC Forum has announced their partnership agreement with Car Connectivity Consortium (CCC), FIDO Alliance, and Smart Ticketing Alliance. NFC Forum is a premier industry association dedicated to advancing NFC technology. Their collaborations’ main focus is to educate the market, break any barriers to interoperability, and foster innovation. 

Over a third (34%) of SME have no strategy in place to tackle long queues, First Data reports | By: Retail Times
After conducting a survey with over 2,000 respondents, results concluded that 7 out of 10 consumers would be deterred from making a purchase due to long line ups. mPOS solutions enable merchants to efficiently combat long customer queues; to keep the line moving and customers happy.  

Chase Visa Cardholders Can Now Use Android Pay | By: Green Sheet
Exciting news this week for mobile payments, Chase Credit and Debit cardholders can now enjoy the convenience of mobile payments. In the U.S., Apple’s iPhone devices are more prominent in the smartphone space. Samsung, an Android device manufacturer, comes in second with 28.1% market share as of June 2015.

Michigan, Arizona Offer Skimming Updates | By: CSP Daily News
Skimmers are fraud devices that are popularly employed by the fraudster community at gas pumps and ATMs. These malicious devices are usually installed at real payment terminals to collect cardholder data. This data is harvested to create clone credit cards for fraudulent transactions. So far in 2016, officials have found roughly 110 skimming devices in the states of Arizona and Michigan alone. 

Paybook Vol. II: Cutting the Cards | By: Verifone
This year, more people will be using their phones to pay for items at checkout. This year, foot traffic to stores will be down nearly 10%. The commerce landscape is changing and consumers are taking charge. Until recently, the ability to accommodate these changes was nearly impossible. Huge, tier 1 businesses could invest millions in making customized payment terminals, leaving the smaller merchants behind.   

The Next Wave of EMV | By: NACS
Fuel retailers have 13 months left to install new payment technologies at their pumps before the liability shift on October 1, 2017. There are over 154,000 locations in the U.S. alone. During this transition, extensive capital expenses are expected to be assumed by  fuel retailers but this outweighs the debilitating potential cost of fraud.  

Samsung Expands Payment Business to New Smartwatch Products | By: Bloomberg Technology
The new line of powerful smartwatches from Samsung have been revealed with unique features. The 3.0 version eliminates the need for mobile device present for user to take advantage of its full functionalities.

Fraud Attacks Jump 137 Percent Over the Last Four Quarters | By:
The latest Global Fraud Attack IndexTM reveals the two key categories that fraudsters are targeting now: Digital Goods and Food and Beverage. Talking numbers, in the last four quarters, fraud attacks have affected every $7 of every $100 retail sale.