Visa

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

Kroger is the latest merchant to sue over EMV signature authentication, joining Wal-Mart and Home Depot

In May, I published an article "Are Americans too dumb for Credit Card PINs?" pointing out the absurdity of U.S. card network rules requiring a merchant to accept a cardholder signature as authentication on an EMV-chip enabled card transaction, rather than requiring the customer to enter a PIN like 80+ other countries. By forcing merchants to [...]

By |2017-11-18T15:32:39-05:00June 28th, 2016|authentication, EMV, Home Depot, MasterCard, Visa, Walmart|0 Comments

Visa predicts 35% increase in international travel by 2025

Visa published a report predicting robust growth in international travel and associated spend over the next decade. Highlights: 282 million households will plan at least one international trip per year by 2025, up 35% from current levels. Average spend will exceed $5,000 per trip Largest growth will come from markets with an expanding "traveling class"  such as [...]

By |2017-11-18T15:32:39-05:00June 10th, 2016|Visa|0 Comments

China opening its doors to foreign payment networks

After more than ten years of lobbying by MasterCard, Visa and others, China issued new regulations on June 7 which will allow foreign payment networks  access to China's $8+ trillion payments market, previously dominated by a near-monopoly of China Union Pay, which is government-run. Card issuers will still be required to operate locally, and China's [...]

By |2017-11-18T15:32:39-05:00June 8th, 2016|China, China Union Pay, MasterCard, Visa|0 Comments

Walmart sues Visa (again), wants to require use of PINs for debit transactions

Walmart has filed a lawsuit against Visa related to Visa's policy requiring merchants to allow cardholders to choose whether to enter a PIN for debit transactions, even if the customer uses a chip-enabled card. The problem?  Signature-based debit transactions are processed on Visa's debit network, often at a higher fee to the merchant than other network routing [...]

By |2017-11-18T15:32:40-05:00May 12th, 2016|debit cards, EMV, Visa, Walmart|0 Comments

Visa introduces technology to speed up EMV transactions

One of the biggest EMV-related complaints from consumers and merchants alike has been the slowdown at the point of sale.   Those added seconds decrease customer satisfaction and slow down the checkout process, thereby creating significant added expense for high volume merchants. The updated technology from Visa, known as Quick Chip for EMV, speeds up [...]

By |2016-04-25T17:33:16-05:00April 25th, 2016|EMV, Visa|0 Comments