Monthly Archives: July 2016

Visa releases updated EMV stats showing continued rapid adoption in U.S.

Visa announced a number of interesting statistics regarding the progress of EMV adoption in the U.S.: Nearly 327 million Visa chip cards have been issued, roughly 58% of them credit cards and the remainder debit/stored-value.   The U.S. has quickly become the largest chip card market globally, followed by Brazil at 141 million and the UK [...]

By |2017-11-18T15:32:38-05:00July 27th, 2016|EMV, Fraud, Visa|0 Comments

PayPal and Visa kiss and make up… sort of

PayPal and Visa announced several new initiatives as part of a partnership deal aimed at thawing their historically frosty relationship. PayPal will de-emphasize its focus on steering customers to bank transfers instead of Visa cards to fund transactions, integrate Visa's mobile payments platform, provide more transaction data to card issuers, and allow Visa's debit cardholders [...]

By |2017-11-18T15:32:38-05:00July 22nd, 2016|digital wallets, ecommerce, PayPal, Visa|0 Comments

Apple Pay launches in France

On the heels of its recent expansion to Canada and Switzerland,  and the June announcement that Apple Pay will support ecommerce payments, comes the debut of Apple Pay in France.   The product is now available in the U.S., Canada, China, Singapore, Switzerland, Singapore and France, and Apple has signaled that Hong Kong could be next. Initially, Mastercard and [...]

By |2017-11-18T15:32:38-05:00July 19th, 2016|Apple|0 Comments

Microsoft wins major international data privacy case

In a "win" for Microsoft, Amazon, Apple and other data privacy rights advocates, a U.S. Appeals court in New York issued a ruling preventing law enforcement officials from requiring Microsoft to provide access to data residing on non-U.S. servers.   The case stemmed from a demand by the Justice Department to access emails stored on a Microsoft server [...]

By |2017-11-18T15:32:38-05:00July 18th, 2016|Microsoft, privacy|0 Comments

Mastercard loses UK interchange challenge, must pay over £90 million

In a landmark ruling, the UK Competition Appeal Tribunal determined that Mastercard did not follow regulations in setting interchange rates and must pay £68.5 million in damages to supermarket chain J Sainsbury.  Mastercard issued a statement indicating it expects to take a total charge of £90-100 million after interest and other costs related to the dispute are [...]

By |2017-11-18T15:32:38-05:00July 15th, 2016|interchange, litigation, MasterCard|0 Comments

EU plans increased regulation of digital currencies and prepaid accounts

In what is being billed as a counter-terrorism move, the EU is proposing stricter rules on digital currencies and prepaid accounts.  The EU signaled such a move last November, after French authorities determined that prepaid accounts were used by terrorists in the Paris attacks.  The rules are also designed to create greater transparency and curb [...]

By |2017-11-18T15:32:38-05:00July 13th, 2016|Bitcoin|0 Comments

Reports: Counterfeit card fraud down as card-not-present and identify fraud spike

It is a long-established fact that fraudsters follow the path of least resistance.  Recent statistics back this up. CardNotPresent points out that according to the Card Fraud Control Benchmark Study from Auriemma Consulting Group, counterfeit card fraud dropped by 18% in the first quarter, largely due to the continuing rollout of EMV which requires multifactor authentication.  The [...]