Posted on 18 March 2014 by Philippe Benitez
There’s no doubt that EMV credit cards are finally making their way to the United States. It’s almost become old news that all of the major credit card issuers in the U.S. have begun issuing EMV cards to a portion of their customers and are steadily working towards converting all of their cards to EMV. […]
Posted on 27 February 2014 by Philippe Benitez
The way that we make credit card transactions is going to change as EMV cards become more common (those are credit cards with a chip). In the U.S. we’ve become accustomed to making a credit card transaction with a swipe. But EMV cards aren’t swiped. Instead, they are “dipped” into the payment terminal, and left […]
Posted on 19 November 2013 by Philippe Benitez
Building on the lesson that I wrote about last month about EMV migration (get the education piece right, and you’ll pave the way for a faster, smoother migration to EMV and contactless payments), I’d like to address an important set of players in the payment ecosystem: card issuers. There are a few built-in touch points […]
Posted on 10 October 2013 by Philippe Benitez
Money2020 has been full of interesting insights on new and developing payment technologies. Payment players from across the spectrum have gathered for Money2020 this week in Las Vegas, from start-ups to those who have been in the industry for decades. With so many payment power players under one roof, I wonder how many years of […]
Posted on 24 September 2013 by Philippe Benitez
In its recently released Hype Cycle for Financial Services Payment Systems report, Gartner gave warning of increasing payment card fraud in the U.S., highlighting EMV (‘chip and pin’) payment cards as the preferred solution. According to Gartner, “U.S. banks should recognize that fraud will likely increase exponentially and with little warning. They should develop an EMV-centric […]
Posted on 28 August 2013 by Philippe Benitez
To continue our discussion about popular myths and misconceptions about EMV payment cards, let’s talk about card-not-present (CNP) fraud – the kind where the merchant never sees you or your card. In other words, the merchant never verifies that the person making the transaction is the legitimate cardholder by checking the signature or seeing that […]