Fintech

An owner of a new restaurant likely would not hesitate to buy a $300 fire extinguisher to comply with local fire codes, but he might put off spending about half that much to ensure compliance with standards designed to protect customers’ credit card data, a new report suggests.

An owner of a new restaurant likely would not hesitate to buy a $300 fire extinguisher to comply with local fire codes, but he might put off spending about half that much to ensure compliance with standards designed to protect customers’ credit card data, a new report suggests.

Visa Inc.’s new U.S. EMV initiative will have far-reaching consequences for merchants and card issuers, but the other card networks may not follow it exactly in drawing their roadmaps for migrating to advanced chip card technologies, certain observers say.

To paraphrase Mark Twain, rumors of the demise of the decoupled-debit card may have been greatly exaggerated.

Most large U.S. merchants easily will comply with Visa Inc.’s first level of incentives to make payment terminals ready to accept contact and contactless EMV cards next year as part of the card brand’s U.S. push toward chip card technology, but it may take smaller merchants a year or two to get there, payment industry experts suggest.

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When newly acquired card customers from HSBC’s U.S. card program and ING’s online bank are folded into Capital One Financial Corp.’s existing base, they will have a rapidly expanding array of digital transaction and payments channels from which to choose.

Consumers accustomed to receiving coupons for product samples or trial sizes of laundry detergent or dish soap in the mail soon instead may receive private-label prepaid cards they could use at a retailer to obtain full-size versions.

If data-security standards compliance in the United States mirrors what has occurred in Europe, the onset of EMV chip-and-PIN technology in the U.S. will not mean major retailers will skip validating their compliance with the Payment Card Industry Data Security Standard each year, the head of the PCI Security Standards Council contends.

BBVA Compass’ decision to start issuing its own reloadable prepaid debit card eventually may help the bank earn revenue from cardholders who want to share an account with other individuals, including those living in other countries, one analyst observes.