It's a well-understood phenomenon in the payments space: Fraudsters are opportunists who will adapt their tactics to focus on the most vulnerable parts of the payments ecosystem. Sort of a criminal version of "whack a mole". According to a report by TransUnion, adoption of EMV at the retail point of sale is causing a steep [...]
Some in the payments industry saw this one coming, but nobody expected it to be this big. Card-present merchants are experiencing up to a 50% increase in chargebacks since the EMV liability shift took place last October. Under the new policy, merchants who don't process a chip on an enabled card during a card-present transaction accept unilateral liability [...]
Bankrate.com published an interesting article about the relatively slow pace of chip-based card adoption by consumers and merchants, despite the fraud liability shift that occured beginning October 1, 2015. The same point-of-sale upgrades required for EMV may ultimately spell doom for the familiar plastic payment card. It will be a slow death (after all, there are plenty [...]
