Merchant

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.

Vehicle repossession is a costly, arduous and unpleasant task for financial institutions. But retaking possession of the vehicle is only part of the process.

Instead of dipping its toe into the mobile-payments pool, Heartland Payment Systems Inc. intends to make a splash with a retail application that can enable a merchant’s employees to complete sales transactions anywhere in or out of the store.

Visa Inc. has introduced a series of incentives to spur the U.S. to adopt chip cards–a change once considered as likely as the country switching to the metric system.

Online retailers looking to reduce their number of declined transactions from different countries have a new tool available in their payments-processing kit.

One man has shared his Starbucks prepaid card with the world, allowing anyone to spend and reload it using a feature of the card that was once called a security flaw.

Visa Inc. plans to accelerate the U.S. migration to EMV contact and contactless chip technology, the card brand announced Aug. 9.

The private-equity firm buying Hypercom Corp.’s U.S. payment-terminal business says it has no plans to make any disruptive changes.

When the Payment Card Industry Security Standards Council was formed five years ago to establish industry standards, General Manager Bob Russo figured about 50 to 60 merchants, associations or banks would participate. He was in for a surprise.

The Payment Card Industry Security Standards Council has set Aug. 29 as its deadline for gathering suggestions from participating organizations for security compliance topics that need further study.