Credit

Responding to what it says is strong demand from corporate customers whose employees travel internationally, Citigroup Inc. on Aug. 11 announced the capability to equip domestic commercial cards with EMV chip-and PIN technology for use in markets outside the U.S. where chip-enabled cards prevail.

The Payment Card Industry Security Standards Council intends to clear up confusion regarding tokenization, a process designed to protect payment card security.

An Australian credit union in Illawarra is trying to recover after several hundred members were victimized by a card-skimming operation.

The European Commission has decided to examine airlines’ increasing use of card surcharges they apply to credit and debit card purchases initiated online.

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.

When JPMorgan Chase & Co. launched its Sapphire premium card in 2009, it sought to match the card benefits with consumers’ lifestyles. And it paid particular attention to providing access to specific experiences and opportunities.

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.

Their portfolios are comparable in size. They are in similar businesses.

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.

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.

PIN-based authorizations should be made compulsory for all debit and credit smart card transactions at the point of sale instead of allowing cardholder signatures to authorize transactions, a Reserve Bank of India committee is recommending.

Subprime credit card issuer First Premier Bank is suing the Federal Reserve Board and the Consumer Financial Protection Bureau over a new rule that would limit fees the issuer charges high-risk customers when opening card accounts.

Capital One Financial Corp. has taken the second step that had seemed inevitable.

All credit and debit cards issued in India should include the cardholder’s image and laminated signature under a recommendation from the Reserve Bank of India.

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.

The U.S. government’s debt-negotiation struggles and the resulting stock market chaos following Standard & Poor’s Aug. 5 downgrade of the country’s sovereign debt likely will cause a “hiccup” in consumer credit card spending just as it was beginning to recover, a First Data Corp. executive tells PaymentsSource.

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.