Contents tagged with EMV

  • POS challenges thrust into the mainstream

    March 19, 2014
    The challenges of the POS system have been pushed into the mainstream.

    Over the last few months, the challenges that businesses face when it comes to credit card processing solutions and business payment security have been pushed into the mainstream because of the high profile Target breach. Nearly 110 million customers were affected, and news continues to filter in that keeps the story and its impact fresh in the minds of industry professionals.

    Recently, Mercator Advisory Group examined how the market is changing in the face of increased pressure for businesses because of the Target breach. The findings were released in a 22-page report called: "Card Fraud Detection Software: Enterprise and Transaction Solutions Converge."

    The study examined several aspects of the current landscape, including EMV implementation, fallout from … more

  • MasterCard, Visa announce new payment security group

    March 12, 2014
    Visa and MasterCard have created a new group to push payment security.

    This blog has covered the increasing push by MasterCard and Visa to speed up the adoption of certain payment technologies and solutions like EMV and near-field communication (NFC). The Senate hearings about the Target breach were the latest example of these card providers highlighting why updated solutions are needed.

    Last week, the two companies took it a step further with the announcement of a new cross-industry group made up of banks, credit unions, retailers and industry trade associations with the initial goal of improving card security before the 2015 deadline.

    "One of the critical roles we play is to protect consumers and businesses against criminals and fraudsters," said Chris McWilton, president of North American Markets at MasterCard. "Only through industry collaboration and … more

  • What are the latest technology trends for small businesses?

    February 27, 2014
    The technology landscape is changing rapidly, and in no place is this more obvious than for small businesses. A recent article from Vertical Systems Reseller examined several of the hottest technologies in the retail market.

    The main takeaway from the report is that existing solutions are evolving with the help of new technology. These are things like sales reporting being influenced by big data and analytics.

    The escalated EMV timeline was discussed as well. The Target breach has put the technology back in the limelight because of the security potential of the solution. While Visa and MasterCard have roadmaps in place for adopting the solution, many other card providers like Chase, Bank of America, Citibank, U.S. Bank, Wells Fargo and American Express also are starting to … more

  • PIN a secondary security feature to EMV

    February 27, 2014
    On the outskirts of the United States payment industry sits the Europay MasterCard Visa (EMV) chip card standard. It's a system that has been bandied about for some time for U.S. adoption and has been in play in other countries for some time. However, by October 2015, Visa and MasterCard will require merchants and card issuing banks to deploy the solution or risk increased liability exposure.

    While this seems like a monumental shift in thinking, the benefits of EMV make the technology beneficial. A recent article from ComputerWorld features an interview with Ellen Richey, Visa's chief risk officer. The discussion focused on EMV adoption and more specifically the security benefits that retailers, consumers and banks will experience when it is finally adopted.

    One of the few debates … more

  • EMV technology to be required by the end of 2015

    February 19, 2014
    Last week, this blog covered the fact that "Chip-and-PIN" technology was a focal point of the Senate Judiciary Committee. Executives from both Target and Neiman Marcus said they have plans to use the technology to improve their security systems already in the works, but will be speeding up the process.

    While this may be the idea of these two retailers, the entire industry is also going to need to get on board whether they want to or not. A recent article from the Wall Street Journal features an interview with Carolyn Balfany, MasterCard's expert on all things EMV technology.

    First it is important to know that both MasterCard and Visa have already released a roadmap that organizations need to follow in order to meet an October 2015 deadline. That is when a "liability shift" will take … more

  • 'Chip-and-PIN' a focal point during Senate Judiciary hearing

    February 13, 2014
    Last week, this blog covered the news that several retail executives and industry leaders would be heading to Washington to answer questions in front of a Senate Judiciary Committee regarding the Target security breach.

    According to an article from Yahoo News, among the conversation of who knew what happened and when, an interesting topic emerged — how EMV and "chip-and-PIN" technology can add another layer of security and needs to be adopted sooner rather than later.

    "It is of concern to me that our payment card systems really do need improvement," Federal Trade Commission Chairwoman Edith Ramirez said at the hearing. She added that "based on the latest information available to us ... it's clear that companies need to do a lot more, that they continue to make basic … more

  • A long history: EMV and the Olympics

    February 06, 2014
    These prepaid chip cards were used to try and launch the technology in the U.S. during the 1996 Summer Olympics in Atlanta.

    Tonight the world will come together and the focus will be on Sochi, Russia, and the opening ceremonies of the 2014 Winter Olympics. While this is a joyous occasion, there are many reports about security concerns and incomplete infrastructure that could cause major problems.

    One thing that every visitor to the games from the United States will come across is different credit card technology protection processes - namely EMV chip cards. This is a standard across Europe and Canada and, as of 2013, 75 percent of Russian ATMs are compliant with this process. Those unfamiliar with it will be able to see it up close and personal.

    Chip cards are far from being a new technology. In fact, this is not the first time that these two entities have come together. During the 1996 … more

  • Examining the current state of EMV adoption in the U.S.

    January 12, 2014
    EMV payment technology will experience accelerated adoption in the future.

    With the deadlines for EMV adoption inching closer, the question of when it will accelerate continues to linger. Already prevalent in Europe and Canada, the use of chip card technology is slowly starting to spread in the U.S. but still has a long way to go before it is the standard in the industry.

    A recent article from Bank Info Security examined the current state of EMV adoption in the U.S. The piece features an interview with Randy Vanderhoof, the executive director of the Smart Card Alliance.

    "The EMV market for the U.S. is a complicated market because there are a lot of moving parts that need to work together," Vanderhoof says. "One of the things that we found right away is that there are technical issues, as well as questions about how the market is going to get educated about … more

  • Is the U.S. ready for EMV technology?

    November 21, 2013
    EMV adoption deadlines are getting closer in the U.S.

    There has been much debate across the United States about adopting a certain system that is already in wide use in other parts of the world. This isn't the metric systems but EMV — a chip-and-pin payment method for credit cards. Unlike the metric system, however, EMV actually has a deadline for U.S. adoption and it is creeping up faster than most retailers realize.

    A recent article from Nerd Wallet examined how the preparation for adoption is going and if the system can even work in the U.S. According to the piece, 73 percent of Western Europe is already using EMV technology instead of the magnetic stripes that are popular in the states.

    The U.S. is lagging behind and the main reason could be the cost of adoption. According to the piece, for all U.S. retailers to replace … more

  • Does KitKat break off a piece of NFC?

    November 20, 2013
    The latest version of Android opens the door to NFC technology.

    Often times, when the retail sector looks at mobile payment trends that consumers are using and merchants need to take notice of, they look at what Apple is doing. This is the company that kicked the mobile device revolution into overdrive with the iPhone and the iPad. With every press event that includes the popular smartphone, payment experts eagerly await the inclusion of near field communication (NFC) technology and they have so far been disappointed.

    So how about we change topics and instead look at the latest operating system from Android and what it could mean for payment options and NFC technology. A recent column from Cherian Abraham for Mobile Payments Today looked into this for the latest platform known as Android 4.4 KitKat.

    According to Abraham, the new … more