Six months after the EMV card fraud liability shift, more than four in 10 retailers have not updated terminals in any of their stores, and an additional quarter of retailers have completed updates of less than half of their terminals, according to a survey by the website CardHub.
Browsing: Debit cards
ABA today filed its fourth and final comment letter in response to the decennial EGRPRA regulatory burden review that the federal banking agencies must conduct. The letter addressed several issues that ABA identified through collaboration with banks of all sizes and from across the country.
Nearly all U.S. adults are aware of EMV transition, while 7 in 10 already have a chip card in their wallet.
Adoption of EMV chip technology among both retailers and consumers grew exponentially in 2015, according to new data from Visa.
Voters are twice as likely to say that retailers, not financial institutions, are responsible for protecting customers’ payment data.
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.
According to documents filed today, Target has agreed to pay approximately $39.4 million to settle claims by card issuers over its 2013 data breach.
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.
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.