EMV technology is changing the credit card industry. Your credit card machine needs to be able to handle this technology. Since most new cards these days have it, your business will suffer if you don’t adapt. One of the main reasons it has become so important is due to security. Payment processing is much more …
How EMV Technology Will Impact Your Business In 2019 Read More »
Europay, Mastercard, and Visa (EMV) chip card technology isn’t just a fad: it’s the future. More than 60% of credit cards issued in the United States today are EMV-enabled and old ATM cards are even being discontinued in favor of more secure chip technology. EMV-enabled debit and credit cards have computer chips that offer far …
After EMV – Was it Successful? The introduction of chip technology in credit cards in the United States was designed to increase information security and reduce credit card fraud. The US EMV (Europay, Mastercard, Visa) liability shift in 2015 was meant to encourage merchants to adopt the technology quickly and it means that merchants or …
Some credit card processing companies are now charging “EMV non-compliance fees”. For those who don’t know, the acronym EMV refers to the technology embedded in what are commonly called chip cards. Developed originally to increase security for customers when making a “card present” payment at a retailer, the date for merchants to install a chip-enabled credit …
Just over 12 months have gone by since the merchant services and credit card processing industry in the United States faced the historical EMV liability shift. October 1, 2015 was the big day. Switching to the Europay, MasterCard and Visa (EMV) system has been a major responsibility in terms of installing terminals and educating shoppers …
Ever since its beginnings in the 1980s, Verifone has been known as a major global provider of point-of-sale (POS) technology and innovative solutions for the merchant payments industry. After three decades of being a dominant market player, Verifone is more than just a provider of credit card terminals; the company is seen as a respected …
Great news for the credit card processing industry: Just one year into the shift towards the Europay, MasterCard and Visa (EMV) system in the United States, and counterfeit fraud costs have been slashed by just over 50%. According to a report issued by credit card giant MasterCard in mid-September, counterfeit fraud costs are being sharply …
Fraud Costs Cut in Half Since the Introduction of EMV Read More »
In the fragmented world of mobile payments, one company is taking advantage of unifying existing technologies for the benefit of shoppers. FitPay is a California company that was envisioned by veterans of the mobile payments industry. This innovative tech firm has paid close attention to shoppers who have been largely underwhelmed by “contactless” mobile payments …
Modern payment methods in the United States range from EMV chip cards to digital wallets to bitcoin; however, there’s one traditional form of payment that has managed to survive the shift towards digital. Use of Paper Checks by American Business Entities The use of paper checks by American business entities and individuals remains uncomfortably high …
More Businesses Than You Think Still Pay By Check Read More »
Over the last couple of years, more retailers and providers of merchant services in the United States have been settling into the new Europay, MasterCard and Visa (EMV) credit card processing system. As EMV acceptance expands, business owners will start to see more technology upgrades offered by through their merchant services providers. One current quirk …
Data security issues at Wendy’s have now been super-sized. Following whispers of a data breach in January, Wendy’s finally confirmed payment security issues in May, when spokesmen admitted fewer than 300 stores had been affected by malware. Now, the company admits the real number of compromised restaurants is over 1,000. Thieves installed malware on POS …
Data Breach at Wendy’s Expands to Over 1000 Locations Read More »
The transition to chip cards, or EMV (Europay, MasterCard and Visa chip technology) hasn’t been an easy one for merchants to adopt. In order to ensure that they are compliant with new rules, merchants have had to upgrade credit card processing systems in order to accept the new chip cards. Failure to do so leaves …
Credit card processors and merchants in the U.S. are starting to experience the true implications of the enormous switch to the EMV system, which stands for Europay, MasterCard and Visa. In the wake of several terrible data breaches by hackers who went after major retailers such as Target and Home Depot, the payments industry has …
Around the world, 80 countries have added EMV chips to their credit cards. These chip cards are more secure than credit cards with only a magnetic strip and have helped to reduce credit card fraud in many places. As a result, these cards are now being introduced in the United States. Many retailers, however, are …
Visa and MasterCard Sued by Home Depot over Chip Card Security Read More »
While plans are being initiated that will reduce credit card fraud, it appears the problem is going to get worse before it gets better. Credit card issuers are rushing to send new EMV enabled cards to their customers. These cards, also known as chip cards, contain technology that makes credit card theft much more difficult. …
Hackers Rush to Cash In Before Chip Cards Take Over Read More »