Why retailers lacking EMV chip readers years after deadline

Why retailers lacking EMV chip readers years after deadline. As many as one-third of small retailers are not using chip-reading credit and debit card machines, more than two-and-a-half years after they were told to swap out traditional credit card machines. The major credit card companies previously announced that any retailer, large or small, without EMV chip payment terminals after…

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…

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…

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…