All 4 major U.S. credit cards ditch signatures with eye on biometrics

All 4 major U.S. credit cards ditch signatures with eye on biometrics. Beginning this month, four of the largest credit card networks in the United States no longer require signatures to complete transactions — a move driven by evolving security and technology. American Express, Discover and Mastercard gave merchants the option to stop requesting handwritten…

Details

Scammers discovering ways to combat credit card chip technology

Scammers discovering ways to combat credit card chip technology. Last week’s data breach involving Zippy’s restaurants highlights the risks of using your credit card, despite all the security improvements made to help protect you from fraud. The Hawaii Better Business Bureau says scammers have discovered ways of combating credit card chip technology. In at least one…

Details

Upgrading to EMV Reduces Fraud Liability and Boosts Customer Experience

Upgrading to EMV Reduces Fraud Liability and Boosts Customer Experience. Many small businesses operate on tight margins. That’s one reason they have been slow to upgrade their payment systems to accept EMV chip-enabled cards. Many are also stymied by the cost and complexity of the required changes. Unfortunately, delaying can have expensive consequences. October 2015…

Details

What is transaction laundering and what is the Industry doing about it?

Transaction laundering has quickly evolved into one of the payment industry’s most prominent and most difficult problems. Transaction laundering — also previously known as “undisclosed aggregation” or “factoring” — occurs when a merchant processes unknown transactions on behalf of another business. This hidden business is often engaged in prohibited activities, and the “front” merchant may…

Details

Payment card acceptance set to surge by 40% to 85 million outlets worldwide

Payment card acceptance set to surge by 40% to 85 million outlets worldwide.The latest cards research, Global Payment Cards Data and Forecasts to 2022, reveals that the number of card-accepting merchant outlets rose by an impressive 7 million in 2016 to 61 million. Double-digit growth was recorded across Asia-Pacific, central and eastern Europe and the Middle…

Details