Issuers, Merchants on Collision Course for Tokenization Standard
Merchants are wary of the proprietary look and feel of the process by which the card networks and issuers are adopting new security standards.
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The appeals process initiated by retailers just a few days after a district court approved a $5.7 billion settlement in the years-long swipe-fee case will proceed, as U.S. District Judge John Gleeson refused to dismiss the suits. more »
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Payment processor Vantiv Inc. now offers EMV testing software for U.S. merchants to use to validate the steps of their acceptance of chip-based payment cards. more »
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The French interbank network in charge of governing card payments, Groupement des Cartes Bancaires CB, is expected to approve the use of biometric technology for authentication this year. more »
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By the end of 2015, 70% of U.S. credit cards and 41% of U.S. debit cards will be EMV enabled, and chip-and-signature will be preferred by issuers out of the gate, according to a recent survey. more »
Cecilia Frew, head of U.S. prepaid products, Visa
Visa Inc. has announced a new specification for reloadable prepaid providers focused on simplifying fees and disclosures. more »
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LifeLock Inc. has temporarily pulled its LifeLock Wallet app off the market to address security issues. more »
Kazem Aminaee, CEO of Spire Payments
Bringing a point of sale terminal to market isn't as easy as it used to be. Since the introduction of contactless and mobile payment tech, the number of tests a manufacturer must pass for certification is "unbelievable," executives at U.K.-based Spire Payments say. more »
Frank Bisignano
First Data reported a better financial picture in the first quarter, a period that also saw the company make inroads into small business technology and accelerate its support of EMV-chip card technology. more »
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Retailers have been entangled in a legal showdown with Visa and MasterCard over swipe-fee rates for nine years now, and despite the approval of a $5.7 billion settlement in December, the battle is far from over. more »
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Target Corp. is backing the moving of class actions related to the retailer's massive data breach to the company's home state of Minnesota. more »
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Many times, it seems, the best way for a company to learn whether it was compliant with the Payment Card Industry data security standard is to experience a data breach. more »
Image: Bloomberg News
MasterCard is requiring acquirers and payment service providers to offer clear fee disclosures as part of an initiative aimed at smaller merchants. more »

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