Investment

Many card issuers are well on their way to the migration to chip cards or have a plan to do so. But many merchants are still completely unaware of the shift in fraud liability taking effect Thursday.

Rules set by Visa and MasterCard suggest that by the start of this month, ideally, banks would all be issuing EMV-compliant cards and retailers would have the technology to accept them. If one party is supporting EMV and the other is not, the delinquent entity will have to cover the cost of any fraud that ensues.

A new survey reveals a wish-list for anti-money laundering specialists to help ease their process of assessing customer risk, a major concern as mobile technology and virtual currency play a larger role in the payments market.

When major card networks revealed the EMV chip card liability shift timeline four years ago, the Merchant Advisory Group was quick to make its stance clear: A conversion to chip cards won't mean a thing without a PIN authorization to go with it.

Some critics argue that it's a bad idea to introduce chip cards without PIN requirements. But this debate is a distraction from the payments industry's robust and multifaceted efforts to fight cybercrime.

Knowing that fraudsters will target those unprepared to handle EMV chip cards when the liability shift takes place Oct. 1, payment processor Elavon has developed a data security package to protect small businesses.

The merchant EMV liability shift is coming this week, and many merchants argue they don’t need to invest in new payment terminals because they’ve had only one or two fraudulent incidences in the entire history of their business.

The deadline for EMV migration in this country is this Thursday. Here's what will and won't happen on that day, and what challenges lie ahead for banks and their customers.

The EMV chip card-enabled PayPal Here will be available in the U.S. on Sept. 30.

The collaboration between financial institutions and technology firms runs deep, but banks' recent criticism of lax regulatory oversight for nonbanks reveals fissures.