Archive for the ‘Chip and PIN’ Category
EMV fallback scenarios to magnetic stripe
In markets that don’t yet support EMV (such as the USA), there is no option but to process all payment cards using the magnetic stripe, even if the card is actually a chip card. Similarly, a U.S. card used in countries which have migrated to chip card technology still can be processed. In EMV markets…
U.S. EMV Migration: Cardholder verification for American EMV terminals
We’ve blogged previously (see EMV Cardholder Verification Methods) about the different types of cardholder verification that are supported by the EMV specifications for credit/debit card transactions using smart cards. Prior to EMV migration in the United Kingdom, most transactions were verified by checking the cardholder’s signature, but the introduction of EMV allowed the chip on…
EMV contact and contactless chip technology – America set for EMV liability shift
Many people in the payments industry were heartened by Visa’s announcement in August that they planned to accelerate EMV contact and contactless chip technology migration in the United States. EMV migration involves the replacement of magnetic-stripe credit/debit payment cards with EMV chip cards (referred to as “smart” cards) and also requires all Point-of-Sale card-acceptance devices…
UK’s largest bus operator to offer contactless payments
FirstGroup, the UK’s largest bus and rail operator, announced to invest £27m to fit contactless card readers to its 5,000 strong bus fleet in England, outside London by 2012. The company intends to be the first bus operator outside London to offer customers contactless payments and will affect 2.5 million daily customers. The new ticket…
Increasing usage of EMV technology worldwide with 1.2 billionn EMV cards in circulation & 18.7 million terminals based on the standard
EMVCo, the EMV® standards body has released the latest EMV deployment figures which state that 40 percent of total payment cards and 71 percent of terminals worldwide are based on the EMV standard. The official EMV figures, which represent the latest statistics from American Express, JCB, MasterCard and Visa as reported by their member financial…