| Credit Card Interchange Battle in Canada |
| Visa and MasterCard this week began to answer for fees the Canadian Competition Bureau calls “restrictive” and “anti-competitive” before the Competition Tribunal in Ottawa. |
|
more...
|
| Wal-Mart will not embrace U.S. contactless payment |
| The nation's largest retailer plans eventually to begin accepting EMV chip-and-PIN cards in the U.S., but supporting domestic contactless-payment is out of the picture, according to a top Wal-Mart exec. |
|
more...
|
| Chip-And-PIN Is The Only 'True' EMV Authentication |
| Two large merchants here at NACHA's Payments 2012 conference expressed decidedly negative views toward the U.S. path to EMV chip card adoption. |
|
more...
|
| SRPc Announces Chip and Pin Working Group |
| The Secure Remote Payment Council (SRPc) announces the formation of a working group to define and adopt a POS and ATM solution for chip and PIN acceptance for PIN debit networks. |
|
more...
|
| CNP Expo |
Special Discount Registration for MAG members
May 20-22, 2012
Lake Buena Vista, FL |
|
more...
|
| Sideswiped |
| Two weeks before bitterly contested regulations regarding its debit cards went into effect in the fall, MasterCard threw a party in New York City. |
|
more...
|
| Where’s Banks’ Incentive to Cut Card Fraud? |
| The Federal Reserve Board is preparing to release yet another important rule required by Dodd-Frank: how and why fraud occurs in debit card transactions and who should have to pay for it. |
|
more...
|
| Internet Council Meeting |
Presented by NACHA
Free Registration for MAG Members
June 6-7, 2012
Milwaukee, WI |
|
more...
|
| 2012 Mobile Payments & Commerce Covergence Summit |
Special Discount Registration for MAG members
June 11-12, 2012
Las Vegas, NV |
|
more...
|
| Who Controls Consumer Payments? |
| Read about the Merchant Advisory Group Roadmap featured in the March 2012 Digital Transactions Online Issue, “Who Controls Consumer Payments?” located on pg. 4. |
|
more...
|
| Fraud Migration Bolstering Need To Proceed |
| Merrill Halpern received an “unexpected benefit” when traveling recently in Europe without an EMV smart card in his wallet. |
|
more...
|
| Processor Execs Echo Merchant Sentiment |
| Some of the nation’s biggest merchants have been adamant for months that they prefer EMV payments with PINs, not signatures, and on Thursday they were joined in that sentiment by a panel of representatives from some of the country’s largest processors. |
|
more...
|
| Unlike Visa, Merchants Pushing PIN for Chip Cards |
| MasterCard’s announced roadmap for EMV adoption in the U.S., with Visa’s similar initiative last August, signals that the U.S. is embarked inevitably on a path to embrace the global standard for authenticating credit and debit card transactions and further reduce the potential for fraud. |
|
more...
|
| VeriFone Perspectives on EMV in the U.S. |
| Merchants are adamant that any initiative in the United States for accepting chip cards backed by the EMV security standard establish the chip-and-PIN method — instead of the chip-and-signature option that Visa Inc. supports. |
|
more...
|
| PIN authentication versus signature authentication |
| In the United States, surveys from several organizations help us determine approximate total fraud losses by different payment instruments. |
|
more...
|
| Fraud From Euronet Breach Hits Mag-Stripe Cards |
| Payment processor Euronet Worldwide Inc. reported on Monday that part of its European businesses sustained a computer security breach late last year. The disclosure is of interest to the U.S. payments industry as it moves slowly toward adoption of EMV chip cards because most European cards have both a chip and a magnetic stripe, and Euronet linked the resulting fraud from its breach only to magnetic-stripe transactions. |
|
more...
|
| FMI Applauds Merchant Advisory Group Payments Road |
| ARLINGTON, VA – January 20, 2012 – On behalf of the nation’s retail and wholesale grocers, the Food Marketing Institute (FMI) supports efforts by the Merchant Advisory Group (MAG) to bring together all stakeholders in the payments chain to create a single, safe and secure payments standard to the benefit of U.S. businesses and cardholders. |
|
more...
|
| Visa Provides Guidance for U.S. Chip Adoption |
| We’ve received a lot of positive feedback since Visa announced a roadmap for the U.S. adoption of EMV chip cards and NFC-enabled mobile payment devices. There’s growing consensus in the industry that it makes a lot of sense to encourage investments in chip technology. That’s because it adds a layer of safety to transactions, through the use of dynamic authentication, as well as enhances international card acceptance. And it helps to build an acceptance infrastructure to support mobile payments. Click here to read about Visa recommendations. |
|
more...
|
| FICO Data Analysis Shows Counterfeit Card Fraud |
| FICO (NYSE: FICO), the leading provider of analytics and decision management technology, today released its analysis of data showing that major shifts have occurred in European card fraud patterns. Analysis done on 55 million active credit cards represented in the FICO® Falcon® Fraud Consortium for Europe showed that counterfeit fraud fell 60 percent between March 2009 and March 2011. |
|
more...
|
| MAG Releases Payments Roadmap |
| The Merchant Advisory Group (MAG) is pleased to announce its recommendations for a U.S. electronic payments roadmap. |
|
more...
|
| Squeezed On Interchange Banks Squeeze Pmt Networks |
Banks are looking beyond consumers to Visa Inc. and MasterCard Inc. to share the pain of lower interchange fees.
Analysts say they expect debit card issuers to pressure the payment networks to lower the fees they charge banks for their services in response to a pending reduction to interchange rates.
So-called network fees are what Visa, MasterCard and other card networks charge the banks that issue cards with their logos. The fees cover transaction processing, licensing, overall network maintenance and other costs.
Such fees are separate from interchange rates, which the networks set but issuing banks collect, through acquiring banks, from merchants when consumers use debit cards. It is those rates that the Federal Reserve Board has proposed cutting by as much as 90%, according to some estimates, in accordance with the Durbin amendment of the Dodd-Frank Act.
|
|
|
| Visa Sets Sights On Mobile Pmnts, E-Commerce |
| Continuing its expansion into newer payments-related territory, Visa Inc. intends to focus on increasing its presence in mobile payments, online commerce and funds transfers, Joseph W. Saunders told analysts during a conference call to discuss fiscal first-quarter earnings. |
|
more...
|