The outbreak of a global pandemic is unlike anything the payments industry has previously encountered. But that doesn’t mean the resulting threats themselves are new – simply that the risk of encountering them is dramatically heightened.Read More
In the payments processing world, the term acquirer can be confusing. Even though it refers to a specific function in the payments processing chain, it is often used more broadly as well, as key players often take on multiple roles.Read More
Don’t pin your hopes on PIN. That’s the advice of a report from the Aite Group, which claims that the cost of having to implement PIN for all card transactions, especially for merchants who don’t already have PIN pads, may just not be worth the expense considering the limited impact on fraud and merchant liability.
The report “Chip Cards in the United States: The PIN, PINless, Debit, Credit Conundrum” says because merchants misunderstand fraud and their own liability risks, a large majority (65 percent of those surveyed) are in favor of implementing chip and PIN in EMV card transactions. None of the issuers surveyed were in favor of it.Read More