While consumers have largely adapted to using their EMV chip cards at different points of sale, they’ll still be swiping at the gas station for the foreseeable future. The next four years, that is. Visa and MasterCard announced Thursday morning that the EMV liability shift deadline for fuel pumps has been delayed until Oct. 1,…
Tag: EMV credit cards
The One Hiccup with EMV Credit Cards
If your Netflix abruptly stops working, don’t be alarmed. If you start receiving renewal notices from the newspaper or weekly magazine to which you subscribe, you’re not alone. If you start receiving hate mail from the toll collection company, there’s a reason for it. Hopefully by now, most consumers in the U.S. have received their…
3 Reasons EMV Credit Cards are Not the Silver Bullet
Perhaps we’re dating ourselves by using the ‘silver bullet’ description in referencing the new EMV credit cards. For those not much into 1960s horror films, the ‘silver bullet’ theory describes the only way to kill a werewolf. In terms of the credit card payments industry, fraud is the werewolf, but the new EMV credit cards…
How E-Commerce Merchants Will Avoid CNP Fraud
Not too long ago there was a great quote on LinkedIn. Or maybe it was Reddit or Twitter, but it read, ‘We can put a man on the moon, but we can’t stop CNP fraud.’ It made me chuckle out loud. Card-not-present fraud has already escalated and is projected to worsen each year for the forseeable…
U.S. Payments Industry Frustrates (but it’s Loaded with Opportunity)
As frustrating as it may be, the U.S. payments industry is every bit as exciting. Indeed, the U.S. has some challenges: The U.S. is the last of the world’s major economies to start using EMV chip-enabled credit cards. U.S. merchants have been slow to embrace EMV cards. The U.S. is facing rising card-not-present fraud. The…
Why Aren’t Retailers Using Their EMV Machines?
Because I work in the payments industry, I get excited when I see an EMV point-of-sale machine whenever I’m checking out of a retail store. To me, it signifies progress. I chuckle when the person in front of me quickly inserts their card in and out, similar to swiping. You cannot blame them. Swiping is…
Longer Lines, Confusion to Accompany EMV Credit Cards
There is going to be a slight learning curve as US consumers adapt to EMV credit cards. It is going to result in longer wait times at the point-of-sale. It is also going to cause a degree of confusion and frustration among consumers – and a good deal of patience is going to be required.…
Clock is Ticking on EMV Liability Shift
As the EMV liability shift takes shape on the US payments landscape, small-to-mid-sized businesses (SMBs) have until October 2015 to comply to avoid fraud liability. When the four major credit card brands – Visa, MasterCard, American Express and Discover – announced the rollout of EMV chip credit cards to replace those with magnetic stripe earlier…