While the U.S. EMV payment card migration is going full steam to meet the approaching deadline this year, payment card fraud will continue to grow by more than 25% over the next five years. Thanks to EMV, U.S. counterfeit fraud will decline by more than 80%, however CNP (Card Not Present) fraud will grow by more than 100% between 2015 and 2020.
The number of U.S. bank credit cards-in-force (CIF) will nearly double between now and 2020. Forecaster RAM Research projects, based on current growth rates, the number of U.S. credit cards with the Visa, MasterCard, American Express and Discover brands will top 1 billion by 2020.
The number of China UnionPay EMV/NFC payments cards issued globally has topped the one billion card milestone. UnionPay’s QuickPass is set to penetrate the South Korea market with BC Cards at the Doota Mall at Dongdaemu. UnionPay QuickPass is already available in more than 8,000 GS25 convenience stores in South Korea
NCR’s Aloha Table service point-of-sale (POS) software has landed another world famous restaurant chain. Jamie’s Italian has opted to use POS system in its first site in São Paulo. The global chain is also using NCR Pulse Real Time to manage its newest facility.
The majority of credit unions have serious security concerns regarding insider threats. More than eight out of ten of the financial institutions acknowledge their biggest concern is confidential information being transferred to unauthorized recipients, while another 52% say they are worried about sensitive data being transferred by use of removable media.
Fraud prevention and risk management specialist Early Warning has signed a definitive agreement to acquire Authentify. Coupled with Early Warning’s 2013 equity investment and exclusive agreement with Payfone, the company has created a differentiated digital channels authentication solution suite that augments its identity and payments solutions.
U.S. Bank’s Elavon has release its new software development kit, Commerce SDK which enables businesses to start accepting ApplePay and streamlines a path to EMV. The release enables small and medium size businesses to achieve the same sophisticated payment options as their larger competitors without the hefty price tag.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Ashish Bahl, Chairman and CEO of Acculynk.
With its 25th consecutive year of service to organization issuing credit cards, R.K. Hammer and its research and analysis division, Card Knowledge Factory, are expanding a series of best practice offerings to credit unions who desire to grow their card operations, and enhance card member experience.
CardWeb.com’s CardConferences today features the CARD FORUM & EXPO, April 8-10, 2015 at the Chicago Downtown Marriott in Chicago. This year the Forum has added a host of new features, including the Merchant & Retailer Think Tank, a new speed round of presentations called PayX and 50% more structured networking opportunities to help foster idea sharing and relationship building that lasts long after the conference concludes.
The master of secure cash handling is bring its money skills to payment cards with the launch of the Brink’s Prepaid MasterCard. TSYS’ NetSpend is the exclusive program manager and processor for the Brink’s prepaid card, issued by BofI Federal Bank.
FICO is teaming up witb LexisNexis Risk Solutions and Equifax to use alternative data to identify creditworthy individuals who would otherwise be unlikely to obtain traditional credit. Card issuers will be able to use the alternative score without having to “rip and replace” existing systems, significantly lowering the cost and accelerating time to market.