MasterCard Answers The Call For Faster EMV | By: PYMNTS.com
Merchants are vastly interested in finding ways to reduce in-store transaction times. Due to the nature of an EMV transaction, each transactions require more time for completion. MasterCard introduces M/Chip Fast to significantly reduce transaction times, this solution mimics a mag strip transaction that will allow the consumer to dip and remove the card before the completion of the transaction.
Visa: Some Merchants See Dip in Fraud Thanks to Chip Cards | By: USA Today
New data has been released by Visa identifying five of the twenty-five merchants who suffered the most instances of counterfeit fraud in 2014 have witnessed a decrease of 18.3% in the final quarter of 2015. Meanwhile, five merchants whom are not EMV chip-enabled have experienced an 11.4% increase in counterfeit fraud transactions.
Can EMV Chip Cards Protect Shoppers’ Loyalty and Security? | By: Business Solutions
A recent Retail Perceptions survey conducted by Interactions unearthed interesting factoids regarding consumer behavior. 69% of consumers are less likely to sign-up for a store credit card after the merchant has been breached. It would be prudent for retailers to implement appropriate security mechanisms to mitigate the risk of getting breached.
Visa Speeds Up Checkout Times | By: Visa
Visa announced the launch of Quick Chip for EMV at TRANSACT ’16 earlier this week. The Quick Chip specification enhances the chip card processing and expedites checkout times, enabling customers to conduct their transactions in two seconds or less. This is complimentary to payment network players to offer to merchants. Contact your processors if interested in implementing this specification.
EMV: Chargebacks Hitting Merchants of All Sizes | By: Bank Info Security
Subject matter expert, Liz Garner, VP of Mechant Advisory Group (MAP) describes the impact of chargebacks to merchants of all sizes in a recent interview with Information Security Media Group. Since the liability shift, smaller merchants are experiencing $10,000 to $15,000 in chargebacks and as much as $1 million for the larger merchants on a weekly basis.
EVO and Verifone Partner to Smooth EMV Migration for Restaurants | By: Verifone
The introduction of EMV in the U.S. restaurant industry has posed challenges with tip adjustment after the initial payment has been authorized. This solution enables merchants in the service industry to execute post-authorization tip adjustments, split payment between different methods, and accept proprietary gift card methods.
Trends on the Horizon for Mobile Payments | By: George Rice from HPE
An exorbitant amount of new data is created on a daily basis and understanding how your mobile applications collect, store, and communicate sensitive data is imperative for insuring data integrity. Implementation of viable fraud prevention measures mitigates your risks. For example, the use of pre-authorized tokens (also known as EMV tokens) into your e-commerce environment will significantly reduce your CNP fraud.
Meeting EMV Forecourt Deadline Will Prove Challenging | By: Brian Berk from Convenience Store News
Fuel retailers have a little over eighteen months before the liability shift. Achieving EMV compliance for automated fuel dispensers (AFD) requires more components than a quick hardware upgrade. Will you be an early or late adopter? Based on their experience from the c-store EMV transition, fuel marketers need to map out their conversion plan to meet the October 2017 deadline.
The Role of Biometrics in an EMV World | By: Matthew Katz from Verifi Inc.
Incorporating additional security measures into your multi-tiered security approach is crucial for repelling fraudsters. Alternative use of biometric technology is being introcuded in the payments environment. Read more to find out how this technology can be used to battle card-not-present (CNP) fraud.
Verifone Takes ‘Disruptor’ Role in Design of Carbon POS | By: Verifone
Verifone unveils it’s Carbon POS – a cloud-based Commerce Platform system that supports a multitude of heavily used and upcoming technology. The Verifone Commerce Platform supports an app marketplace that enables merchants to install value-added services to provide customized and personal online experiences in the physical store.
After Years of Retreat, Payments Fraud Has Come Roaring Back, AFP Survey Shows | By: John Steward from Digital Transactions
The latest survey conducted in January by AFP has concluded that 73% companies have reported actual and attempted payments fraud in 2015, jumping 11% from 2014 and 13% from 2013. It is worth noting that while fraud rates increased, the actual dollar losses have diminished.
Identity Risk Management Needs a New Future | By: Heather Schlegel from PaymentsSource
Retailers have implemented numerous fraud security measures to authenticate purchases made by consumers. As the world becomes more connected and digitized, we’ve seen an influx of businesses’ building dedicated teams and architecture to battle cyber attacks and keep the integrity of their consumer data. Employing an authenticating tool in your e-commerce environment may significantly reduce card-not-present (CNP) fraud.