MasterCard says it will integrate a fully tokenized checkout experience within MasterPass, leveraging the MasterCard Digital Enablement Service (MDES). MasterPass enables issuers to deliver digital payments across channels and devices around the world, seamlessly extending the trusted relationships consumers have with their banks.
Alliance Data Systems has introduced an EMV-based co-brand credit card solution with tap-and-pay functionality for its retail partners. The first of these dual-interface chip cards are co-branded with MasterCard and BJ’s Wholesale Club and the Fuel Rewards program.
Payment cards in Cambodia have rocketed by a
a compound annual growth rate (CAGR) of 26.31% since the “Great Recession”. At year end 2014, the cards-in-force (CIF), debit and credit, have topped 1.5 million.
ATM owners and operators have been urged to begin planning for U.S. EMV chip migration as soon as possible to protect themselves from potential fraud losses. The EMV Migration Forum is a cross-industry body focused on supporting the EMV implementation steps required for global and regional payment networks, issuers, processors, merchants, and consumers to help ensure a successful introduction of more secure EMV chip technology in the United States.
FIS and its NYCE® Payments Network announced a licensing agreement to make the Visa® EMV® debit solution available to all NYCE participants. This agreement furthers the U.S. payments industry goal of EMV adoption and is NYCE’s first formal EMV license, which can be used by NYCE Network participants with respect to Visa card products. Fundamental to the agreement is the support of key NYCE participant business flexibilities, including portability between debit networks for issuers, routing choice for merchants at the point of sale and issuers at NYCE ATMs. At the same time, it ensures that NYCE will have access to Visa EMV technology in perpetuity to support NYCE clients and NYCE will be able to support transactions using all authentication types.
National Payments Corporation of India (NPCI) appointed advanced secure-chip testing provider Fime to deliver its RuPay certification program. NPCI will utilise FIME’s expertise in setting up EMV-based certification board for its card payment scheme, RuPay. FIME will define the certification specification, laboratory setup, test plan specification, test tools and operate the certification board for RuPay. FIME will also be involved in setting up the certification process including the associated administrative and business operations. This will ensure all payment cards and POS terminals deployed under the brand align to the requirements of RuPay specifications and ensure necessary infrastructural alignment of acquirers and issuers with the payment system.
FIS is furthering EMV production and transitions with its programs for more than 50 financial institutions over the last 12 months. Offering implementation and issuance programs for providers looking to upgrade to the EMV standard used across most of the world, FIS has taken a leading role in several EMV initiatives that support financial institutions, retailers, government entities and individual consumers. Through its NYCE Payments Network, FIS is one of 10 founding members of the Debit Network Alliance (DNA). A collaborative effort of 10 of the largest debit PIN networks, Debit Network Alliance is working to create a standard for EMV debit card processing that will meet Durbin Amendment rules and allow for an open and competitive debit network marketplace. Its Travel EMV Prepaid Card program allows banks to quickly and easily sell prepaid smart cards to customers without implementation costs.
Clear2Pay next generation payment solutions announced its M/Chip Advance Test Solution has been analysed and validated by Fime, a renowned EMVCo and MasterCard accredited test laboratory. The Test Suite enables card vendors to save time and money when developing and validating the newest generation of MasterCard payment cards. M/Chip Advance is MasterCard’s latest EMV-based payment platform for traditional debit, credit and prepaid cards facilitating the deployment of contactless applications and enabling applications such as transit and loyalty. Prior to rolling out M/Chip Advance cards, vendors require certification by a MasterCard accredited test laboratory to ensure that their cards are compliant to MasterCard’s M/Chip Advance specifications.
ACI Worldwide payment systems was elected to the steering committee of the EMV Migration Forum. An independent cross-industry organization formed to help the payments ecosystem in the United States successfully move from magnetic stripe technology to secure EMV technology, EMV Migration Forum also appointed ACI’s Dan Heimann, consulting manager, Back Office Solutions, vice-chairman of the steering committee. Mr. Heimann is recognized as a global EMV leader thanks to his role in helping payment organizations implement and maintain EMV programs since the initiative began in 1998.
MasterCard expanded its U.S. electronic payments roadmap to include the ATM channel. Beginning in October 2016, a liability shift will be introduced for ATM transactions in the U.S., as part of an effort to globally align the use of EMV technology to prevent and manage fraud in the payments ecosystem, and apply to all MasterCard-branded products across all transactions initiated at U.S. ATMs. MasterCard was part of the original group that created the EMV standard and has supported the successful migration to EMV-based payments in every major market globally to date. The company’s continued investment in advancing these infrastructure standards has provided insights and expertise to guide the industry in advancing payments security and convenience.
EMVCo and the NFC Forum will optimise the development and testing process of NFC mobile devices for vendors, aligning specifications and cross-recognition. This will offer benefits to stakeholders involved in EMV-related NFC use cases and products in the contactless payments industry by reducing product time-to-market and decreasing certification costs. Activity will focus on Level 1 functionality, which covers contactless communication protocol. Initial efforts will centre on outlining the scope of work and the specifications to be covered. These efforts will be followed by a gap analysis to identify and examine specification differences, agree on specification updates where necessary and how agreed amendments will be collectively managed.
The Smart Card Alliance announced the formation of the EMV Migration Forum, an independent cross-industry organization. This will support the alignment of the EMV implementation steps required for global payment networks, regional payment networks, issuers, processors, merchants, and consumers to successfully move from magnetic stripe technology to secure EMV contact and contactless technology in the United States. The EMV Migration Forum will have a separate membership and be open to representatives from financial card issuers, payments processors, merchants, acquirers, payment networks, industry suppliers and other constituent groups including payments industry associations to ensure that all stakeholders ins intakeholders in the payment industry are represented.