The EMV Payment Tokenisation Specification – Technical Framework v1.0 has been published by EMVCo. The technical document – which will be of interest to all industry participants including merchants, acquirers, card issuers and new payment entrants engaged in the mobile and digital secure payment ecosystem – is designed to allow market implementers to develop interoperable
Fiserv, Inc. and MasterCard have announced an agreement to make MasterCard’s U.S. common debit EMV solution available for the Accel debit network. Under this agreement, MasterCard issuers receive flexibility to select and implement network relationships, while merchants and acquirers will continue to route transactions as they prefer, without introducing multiple applications and complicated technology upgrades.
Datacard Group, a provider of secure ID and card personalization solutions, has announced its continued commitment to educate and consult financial institutions on EMV migration. The company, along with its partners – Visco (Cambodia) Joint Stock Co., Ltd in Cambodia and Omega Computer Corporation in Philippines – will conduct two half-day EMV seminars. Ideal for
CRDB Bank in Tanzania has launched a Visa/MasterCard – enabled prepaid card for the Kilimanjaro Christian Medical Centre (KCMC) to reduce cash transactions at the referral hospital in Moshi, Kilimanjaro Region. The Visa/MasterCard dubbed Tembocard KCMC card launched in Moshi are aimed at streamlining payments made by patients to further optimize revenues for the hospital.
MasterCard and Visa have announced the formation of a new cross-industry group focused on enhancing payment system security to keep pace with the expectations of consumers, retailers and financial institutions. The group will initially focus on the adoption of EMV chip technology in the United States, in addition to addressing other security-related topics, including tokenization,
South Africans are abandoning cash for card payments, cutting banking costs by reducing the need to transport money, according to First National Bank (FNB). The bank reported in December card payments were ZAR3 billion (US$289 million) higher than cash withdrawals, though this had fallen again by January. “The gap between purchases made with banknotes compared
MasterCard has announced its expansion into seven new markets across Central and West Africa, increasing its acceptance footprint across the continent and securing a number of strategic agreements. The addition of Chad, Central African Republic, Guinea-Bissau, Liberia, Sierra Leone, Rwanda and The Gambia to the MasterCard network extends the company’s presence to 48 of the
American Express has introduced the Amex EveryDay Credit Card, a new no annual fee credit card that puts a twist on the traditional rewards program. The Card will be available by April 2, 2014. This new kind of credit card from American Express rewards Card Members for how often they use the Card, and not
Visa Inc. has announced that it has completed technical development of a new service aimed at detecting and preventing fraud schemes that target the use of prepaid cards. Visa’s Prepaid Clearinghouse Service (PCS) is a centralized database that allows financial institutions, processors and prepaid program managers to share prepaid card data such as enrollments, load
Prepaid debit card use is on the rise. According to the recent Pew Prepaid Cards Research Project, the prepaid debit card industry is a fast-growing, multi-billion dollar segment serving tens of millions of consumers. “There are many reasons consumers use preloaded debit cards,” said Ben Katz, CEO of CARD.com, a leading provider of reloadable, prepaid
