Cards

Because federal regulations threw a wrench into the debit card industry as it prepared for EMV, merchants will be accepting primarily EMV credit cards when the liability shift hits in exactly three weeks.

Retail ATM provider Cardtronics Inc. has renewed its service agreement with Target Corp. as the exclusive provider of ATMs for the national retailer.

Paul Waltz is the new CEO of electronic funds transfer network Shazam, replacing the retired Michael Hollinger.

The Debit Network Alliance last week officially launched its shared application identifier (AID) for EMV debit routing, but merchants likely won't be in any rush to implement the technology despite the fast-approaching Oct. 1 liability shift.

Electronic multi-card device maker Coin has added technology to enable contactless payments at some retail locations.

First Data Corp. selected Citigroup Inc., Morgan Stanley and Bank of America Corp. to manage its initial public offering planned for this year.

Following its massive 2013 data breach, Target vowed to accelerate its EMV-chip card migration, but the retailer still just barely made the card networks' deadline.

General purpose reloadable prepaid cards continue to evolve, exceeding the expectations of many, and in some ways are helping to shape the future of banking.

More financial services companies are landing on MaRS, a corner of Toronto where developers are building new uses for smartphones, wearables and alternative currencies all under the same roof.

As part of the transition to EMV-chip cards in the U.S., some issuers are adding PIN security to cards that used to require only a signature. But as technology advances, the PIN may not provide as much security as consumers believe.

As mobile wallets and other high-tech payment mechanisms proliferate, they bring with them more options for security. Companies are increasingly looking for ways to use devices' built-in cameras to urge consumers to take self-portraits for authentication.

Avidia Bank of Hudson, Mass. has contracted payments technology company FIS to offer card-free ATM transactions through a mobile app.

American Express is introducing one of the payments industry's first prepaid debit cards with cashback rewards in an age where the best rewards are typically reserved for the more lucrative credit card market.

Total System Services (TSYS), the Columbus, Ga.-based payment processor, has hired Patricia A. Watson to be senior executive vice president and chief information officer, effective Sept. 14.

The rise of mobile payments has had only a narrow impact on the use of cash, according to a new report from the ATM Industry Association and business strategy consulting firm Tremont Capital Group.

The Debit Network Alliance has hired the Dutch firm Gemalto to provide consulting on implementing EMV anti-fraud technology.

Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA, Spain's top two banks, said last month they'd start charging non-customers about 2 euros ($2.19) a time to use their ATMs, joining CaixaBank SA, the third-biggest bank, which began levying the fee in March.

When the card networks' October deadline for EMV-chip card adoption arrives, things will likely have changed very little compared to how they are today.

When cardmaker American Banknote (ABnote) CIO John Ekers discussed his company's Apple Passbook Android clone last week, he observed that "in the last 3-4 weeks, we're getting a lot more interest in limited use keys (LUK)," which is the first element of tokenization.

Fraudsters, anticipating the U.S. shift to EMV security at the point of sale, are busy looking for ways to hack into the e-commerce sites and consumer bank accounts that will be unaffected by the change in payment card security.