Americans are using their credit cards more than ever — and some experts think that’s a good thing. The number of credit card accounts increased by 2.6% compared to this time last year, according to TransUnion’s Q1 2018 Industry Insights Report. Currently, there are 416.5 million credit cards and 174.9 million consumers with access to a…
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…
On April 15, 2018, Visa’s new rules on chargebacks, called Visa Claims Resolution or VCR will come into effect. This new program has already gone live in Hong Kong and New Zealand in October 2017. Now these new rules will be migrated to all the remaining countries. It is not clear at this point if…
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…
The new PCI DSS 3.2 standards – New authentication requirements for cardholder data. Poor password management – including the continued reliance on default, stolen, weak and non-unique passwords – is a key factor in more than 80% of hack-driven breaches, according to Verizon’s 2017 Data Breach Investigation Report. In response to growing waives of fraud…
Visa’s Latest EMV Numbers Say The Card’s Catching On. Remember back in 2015, when the first transitions to the Europay / Mastercard / Visa (EMV) standard started? Remember what an absolute firestorm of confusion and resentment it was from small shops who didn’t want to buy huge new quantities of hardware just to keep from…
For years, American consumers have waited for safer credit cards with embedded chips that make them more difficult to clone, and which can require a unique PIN or a signature to use. Now that these cards are finally in widespread use, and retailers are begrudgingly shifting over to new card-readers, why is identity fraud still…