Archives / 2016 / August
  • EMV adoption picking up pace

    Chip-enabled terminals are becoming more common with retailers. Across the country, the number of consumers and retailers with access to EMV technology continues to grow, helping drive down fraud rates at some of the nation's largest merchants. As many as 80 percent of Mastercard's consumer credit cards in the U.S. now have the embedded chips necessary for EMV payments, according to the card company. Consumers can use those cards to make EMV payments at 1.7 million merchant locations that now accept Mastercard chip payments. While that figure is up a whopping 374 percent since the October 1, 2015 liability shift deadline, it still represents just 30 percent of the total U.S. merchant population, Mastercard reported, suggesting there's still plenty of progress to be made in driving EMV adoption.Merchants who … more

  • Wells Fargo takes one step closer to a cardless customer experience

    Wells Fargo now offers its members a proprietary mobile wallet. For years, one of the most rewarding parts of opening your first checking account was the moment you were handed your debit card for the first time. With that little piece of plastic, you could pay for goods and take out cash from stores and ATMs just about anywhere. For new Wells Fargo customers, however, the plastic card will play far less of a role. In fact, first time account holders may enter a world where they hardly have to use their debit card at all. Wells Fargo members now have access to a new mobile wallet from the bank, which allows shoppers to make NFC payments in eligible stores without taking their cards out of their wallets. When they need cash, they will soon be able to extract it from NFC-enabled ATMs currently being upgraded across the country. About 40 … more

by Ty Hardison

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