EMV

With swipe payments heading toward the exit in a few years, issuers have an opportunity now to prepare.

The standards body's new guidance would prevent vendors from managing multiple protocols in different countries.

The card network plans to start removing stripes on cards in three years and will eliminate them entirely by 2033. That is expected to be enough time for most merchants to adjust, but gas station operators worry they won't be ready when the transition begins.

The technology holds great promise for financial services, but it could be just as powerful for scammers looking to break payment card encryption. Visa, Mastercard and others are already building new defenses.

The EMV specifications technology body has revised its requirements to ensure a consistent payment experience for cards, smartphones and wearables.

Banks may need to be more selective about how they issue plastic, so that cards remain available to those customers who need them most.

David Heun, associate editor at PaymentsSource, talks to Laura Socha, senior partner at Capco, about the trends driving the advancement of payment technologies in Canada.

Given the transition's complexity, it's understandable if fuel retailers will not meet the April 17 deadline. But it's important not to be paralyzed by analysis, says Hughes Network Systems Jeff Bradbury.

Technology safety assessor UL will test EMV specifications on consumer mobile devices as part of standards body EMVCo's early adopter program.

After postponing enforcement for years, the card brands are implementing an EMV liability shift at fuel stations, which still struggle to make the upgrades necessary for chip-card acceptance.

After postponing enforcement for years, the card brands are implementing an EMV liability shift at fuel stations, which still struggle to make the upgrades necessary for chip-card acceptance.

The shift from cash has boosted digital and called attention to the importance of standards, says EMVCo's Brian Byrne.

EMVCo, the major card brand-supported venture to establish EMV guidelines and specifications, has begun testing a program to determine if consumer mobile devices can securely accept contactless payments — a move that not only hastens the adoption of contactless payments, but renews criticism over which networks control technology and routing decisions.

But with the deadline fast approaching and no further extensions on the horizon, focusing squarely on accelerating EMV compliance is now the optimal decision for gas station owners, says Paysafe's Lori Griboski.

The trend toward payments that limit contact will continue beyond COVID-19, says EMVco.'s Brian Byrne.

The complexity of the migration is an opportunity to examine other elements of the payment experience, says TNS' Brian DuCharme.

EMVCo has developed guidelines that allow the travel industry to provide more data to issuers authorizing ticketing transactions as a way to reduce fraud in air travel, hotel and car rental purchases.

The coronavirus pandemic has generated more interest in pay-at-the-pump apps, a growing segment of the payments industry that may not have grown fast enough to be ready for the sudden surge of interest in contactless payments.

To ensure safe, secure transactions that are protected against fraud, retailers moving to EMV have been encouraged by their POS partners to replace or upgrade the network infrastructure, says TNS' Brian DuCharme.

The role of EMVCo — which is often seen as an extension of the card brands that deals only with chip-based EMV plastic cards— has come into sharper focus.