Verifone EMV Articles July 2016

Verifone EMV Articles July 2016

EMV Migration Forum changes name to U.S. Payments Forum | By: Finextra
The EMV Migration Forum is an independent cross-industry body, created by Smart Card Alliance in 2012. The new organization will shift its focus to address new and emerging technologies within the payments landscape which include, but are not limited to, encryption, contactless payments, tokenization, and many more. EMV plays an integral role in the advancement of the U.S. payments industry but it is only one part of the entire payment ecosystem.

U.S. Transition to EMV Chip Card Trudging Along | By: NRF
As U.S. retail merchants stride to cross the finish line to deploy EMV acceptance at all their brick-and-mortar sites, it hasn’t been an easy journey. Delays in certifications have left merchants with chip-enabled terminals that are not completely EMV certified, leaving them vulnerable to chargebacks. According to Mastercard, there has been a 15% to 20% increase in overall chargeback volume at the end of April 2016.

Mastercard Removes Digital Payment Barriers – Gives Consumers Freedom to Shop Across Devices and Channels with Masterpass | By: Mastercard
Consumers globally will be able to take advantage of Masterpass, MasterCard’s omni-channel, all digital payment service leveraging the technologies currently out in the market. Masterpass enables consumers to utilize this payment platform for all commerce transactions, whether it be in-store, in-app, or  online. Masterpass enables issuers to develop and design their very own branded digital payment solution.

Mobile Payments, EMV, and Fraud: A Chat with ETA’s Jason Oxman | By: Sift Science
Security plays a huge role in payments. Technologies such as EMV, a card authentication technology, along with encryption and tokenization are employed to mitigate the risk of fraud. According to the CEO of Electronic Transaction Association (ETA), counterfeit credit cards are still the number one form of card fraud in stores in the U.S. 

Chargeback Policy Changes – What are they and how did we get here? | By: The Payments Review
Major credit card brands including, Visa, MasterCard, and American Express have announced changes to chargeback policies taking effect in 2016. One commonality between all policy changes is the blockage of all U.S. counterfeit fraud chargebacks under $25. 

Top 10 Mobile Loyalty Activations of Q2 | By: Mobile Commerce Daily
Major players in the retail and hospitality space have launched in-app based loyalty programs that provide value-added services to the consumers that goes beyond payments. Keep reading to find out their strategies to make the user stick.

Consumers Say Debit Card Swipe Fee Savings Should Continue | By: NRF
A survey conducted for NRF reveals that 89% of surveyed consumers think that the “swipe fees” should remain capped. Robert Shapiro, an economist and former senior advisor to President Clinton found that the cap in fees saves retailers an estimated $8.5 billion a year and passing about 70% of their savings to the consumers.

Mobile POS Systems will Grow by Five Times in Transactions in Five Years: Research | By: Computer Dealer News
Mobile Point-of-Sale (mPOS) terminals are an effective line busting tool, enabling a more seamless checkout experience and an opportunity to employ targeted marketing campaigns in-stores. By 2021, one in five retails transactions is expected to take place on a tablet or smartphone-based mPOS terminal.

Visa Revitalizes Wearables with NFC-Enabled Payment Ring for Olympic Athletes | By: Mobile Commerce Daily
Visa announced a sleek, inconspicuous method of utilizing wearable technology for the 2016 Rio Summer Olympics. A select group of athletes will be provided an NFC-enabled payments ring, allowing them to conveniently pay for merchandise with a simple tap. 4,000 NFC-enabled POS terminals will be deployed in Rio, ready to accept wearable and mobile payments.