The chip is key to the security of new EMV cards, ABA SVP Jess Sharp said in an American Banker op-ed yesterday rebutting claims that chips should always be paired with PINs instead of signatures for verification.
Browsing: Chip and EMV
During this holiday season, nearly one-quarter of small businesses that accept card payments have no plans to implement EMV-enabled terminals.
To help consumers make the most of new chip cards during the holiday shopping season and understand their security benefits, ABA has launched a new education campaign.
A small group of state attorneys general sent a letter to the executives of major card companies on Monday urging them to implement chip-and-PIN technology in credit and debit cards, arguing that it would offer greater protection from fraud. However, the letter — signed by nine AGs — acknowledges that a PIN-based system could not
Only 41 percent of business owners currently have the ability to accept EMV credit and debit cards, according to a survey released this week by Newtek Business Services.
ABA this week launched a new ad as part of its “Let’s Innovate. Not Mandate” campaign. The ad, running in Capitol Hill newspapers, notes that financial institutions are busy issuing new EMV/chip cards that eliminate counterfeit fraud, but that just 27 percent of businesses are equipped to accept the cards. “These retailers deserve credit for
Retailers need to focus on protecting their customers’ data before it gets breached, ABA President and CEO Frank Keating said in an op-ed published today in The Hill. “Unfortunately, some retail trade groups have chosen to fixate on mandating PINs, a static technology that only addresses a small and steadily declining share of fraud, rather
ABA banker Jim Reuter, EVP and COO of FirstBank in Lakewood, Colo., today briefed the Congressional Payments Technology Caucus on the rollout of EMV chip card technology. Reuter, whose bank is both a card issuer and an acquiring bank, explained that because fraud is ever-changing, EMV is just one of many technologies banks and retailers
An overwhelming majority — 94 percent — of consumers think retailers should take steps to better protect consumer data from hackers, according to an Ipsos Public Affairs survey conducted for ABA. Seventy percent say retailers should be installing EMV chip-enabled card readers as soon as possible. Nearly 80 percent of consumers think the government should
ABA and other groups representing banks and credit unions in a letter Friday pushed back against retailer claims about the need for PINs to accompany new EMV, or “chip” cards. The letter was sent in response to questions raised at an Oct. 7 Small Business Committee hearing on EMV and in anticipation of the panel’s