Payment Systems

Latest Headlines

Latest Headlines

Tokenization no POS panacea; retailers need balanced security strategy

Payment security technology is top-of-mind for most retail IT executives who are seriously considering, if not aggressively adopting, EMV chip card systems, tokenization, Apple Pay and point-to-point encryption. All are important, but none are complete solutions in and of themselves.  

Trader Joe's testing Apple Pay; Alibaba talking to Apple

Trader Joe's may be the next major retailer to sign up for ApplePay, which, if expanded beyond a test, will add 400 retail locations to the contactless payment system's total.

Card issuers making rapid progress on EMV deployment

Two recent studies confirm that card issuers are making rapid progress in deploying EMV chip cards. One study issued by EMVCo reported that there are now 3.4 billion EMV cards in circulation, up 43 percent from last year's 2.37 billion, and the other, issued by The Strawhecker Group, said the majority of issuers' card portfolios will be updated by the end of the year.  

Customers want payment options; many retailers reluctant to invest

Payment options have become central to customers' shopping experience and remain a very big concern for many retailers, yet more than half of retailers are hesitant to invest in the desired technology.

Widespread EMV chip card adoption won't happen until 2020: Forrester

EMV chip card payments won't reach "broad" adoption for at least a few more years, and tokenization must be prioritized to secure the payment chain, according to a new report from Forrester Research.  

Apple Pay on a roll, signs Best Buy, Discover

Apple Pay continued to make major inroads into the retail payments ecosystem this week, landing a major retail chain and the last holdout of the card provider networks. Best Buy and Discover are now in the fold.

Visa won't budge on fraud liability shift deadline

Visa has no intention of extending the October fraud liability shift deadline for EMV chip cards. The credit and debit card network will continue its rollout plan for EMV even though a majority of retailers and some banks won't be ready for it in October. That's when retailers or banks will assume liability for fraudulent card use depending on who is least prepared to accept the EMV chip cards.

Retailers adopt proven strategies to curb POS breaches

Security breaches at the point-of-sale don't just impact business operations and customer loyalty, they strike an expensive and damaging blow to an retailer's bottom line.  

The importance of pushing back the EMV fraud liability shift deadline

As the payment wars between retailers and credit card issuers rage on, both sides would be well served if the EMV October fraud liability shift deadline were pushed back, because neither group is fully prepared to meet it. The dispute has been brewing for months and stems in no small part from the long and bloody conflict over card interchange fees. There's no love lost between retailers and their banking partners.

Costco slashes credit card fees to near nothing

Costco Wholesale Corp. has accomplished something other retailers only dream of. It has reduced its credit card acceptance costs to almost nothing.