People are getting used to inserting their payment cards into card readers now instead of swiping, thanks to sophisticated EMV card technology. It seemed like a long wait for the United States to catch up with the rest of the world and use EMV chip cards to pay for purchases, but now they’ve become commonplace. And now cardholders can get these cards, which use the latest technology to prevent fraudulent purchases, even more easily and quickly.
Alliance Data is now offering the capability...
For years, the United States has lagged behind other countries when it comes to payment security. EMV cards, also called chip-enabled cards, or chip-and-PIN cards, are standard across Europe and Asia, but haven’t caught on as quickly in the U.S. This is despite the fact that they are more secure than traditional magnetic stripe cards, and also in spite of the numerous data breaches that have compromised consumer payment information over the last year.
As of October 1, 2015, banks have...
The coming wave of chip-enabled EMV credit cards is good news for consumers, who will be better protected from fraudulent charges and identity theft, but for small businesses, it could be a headache.
As of October 2015, businesses must be prepared to accept EMV credit cards, which are equipped with microchips that encrypt cardholder information and keep people safe from credit card thieves. If they don’t accept the cards, they can be held liable for fraudulent charges. However, becoming...