Payment standards

The rise of contactless cards could eclipse mobile payments adoption, experts predicted, while evolving fraud threats may give rise to increased account controls for consumers.

Part of the issue is that in the U.S., contactless cards didn't pave the way for mobile as they did in other regions. Without widespread acceptance of contactless cards, merchants were put in the position of being asked to upgrade their terminals for mobile without any promise that the investment would pay off.

Starbucks has established itself as a model for mobile payments among coffee drinkers, but Barclays is partnering with a U.K. coffee chain to take it a step further by bringing the coffee cup itself into play.

Gas Pos, which markets a solution for petroleum operators to convert to EMV payment technology at the pump, has raised $1 million in funding from a Silicon Valley venture capital firm.

JPMorgan Chase & Co. has committed to roll out contactless chip cards for all new and replacement payment cards, which will likely spark a mass movement, if the experience of other global markets is any guide.

In the U.S., most banks and retailers seemed to have given up on contactless cards with the 2011 demise of the much-publicized Chase Blink brand. But the payment format is making a strong comeback in 2018.

Despite the fervor over mobile wallets and banking, one day consumers may never need to open a dedicated bank or payment app.

Even consumers are fed up with passwords, which seem to do little to deter hackers, but Visa says there's still some life left in the dated authentication method.

The vast majority of card fraud in post-EMV Australia affects digital payments, a trend that has prompted government action, expedited security projects, and financial pressure on banks from retailers.

Shell has launched a new mobile app called Pay & Save, designed as a frictionless complement to the EMV-chip cards it must accept at its pumps by late 2020.

Now that consumers have come to accept metal cards, issuers are looking to do more with the format.

Collaboration is a critical part of how we prevent cyberattacks from turning into breaches that put consumer payment card data at risk, writes Lance Johnson, executive director of PCI SSC.

As with many mobile apps and services, I think we underestimated the fragmentation issue. That includes consumers preferring different operating ecosystems, and also different versions of Android or iPhone hardware, according to Ankit Kumar, manager of digital payments and mobile financial services at Gemalto.

Contactless payments are a big success story in most countries around the world—including developing markets—but not in the U.S.

Companies using First Data's payments network through unattended kiosks and other settings can now accept EMV payments through the ID Tech hardware and Worldnet software.

Stressing a need to address security in mobile payments and banking, ASC X9 has introduced a new standard — essentially part three of its wireless safety efforts, focusing on the management and security of mobile commerce implementations.

Participation by all members of the global payments ecosystem is encouraged through EMVCo's work to secure card-present transactions and incorporate broader applications.

Executives from four companies—Worldnet co-founder John Clarke, Payrailz CEO Fran Duggan, CardFree CEO Jon Squire, and Sionic Mobile CEO Ron Herman— view Uber and Amazon as drivers of the shift to an "unattended" retail experience that removes human interaction from the process of making a payment.

U.S. EMV coverage has gaping holes—including smaller financial institutions that haven’t fully converted to EMV and millions of merchant locations still not accepting chip cards.

Visa is providing payments support for contactless vending machines dispensing high-fashion accessories at an event during New York's Fashion Week.