Voters are twice as likely to say that retailers, not financial institutions, are responsible for protecting customers’ payment data.
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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.
Debit cards, cash and credit cards remain the most popular payment methods, according to recently released results from the Federal Reserve Bank of Boston’s 2013 Survey of Consumer Payment Choice.
Responding in The Hill to claims by a retailer trade group, ABA SVP Doug Johnson made the case today that the chip in new EMV cards is the key to securing card transaction — not the PIN, as retailers have argued.
The Durbin Amendment’s cap on debit card interchange fees is distorting the retail marketplace and harming consumers, ABA President and CEO Frank Keating said in an American Banker op-ed today responding to claims by retailers that the Federal Reserve set the fee cap too high.
With the liability shift for EMV card technology coming up on Oct. 1 and many customers receiving chip-enabled cards in the mail, ABA has released a new infographic and is running a radio ad to help the public understand the new technology.