Move could speed retailers’ shift to secure chip cards
- The switch from magnetic stripe credit and debit cards to chip-enabled ones was always going to be more marathon than sprint: Millions of new cards must be manufactured and distributed, and any business that accepts payments - retailers, gas stations, doctors' offices and more - must implement new hardware and software if they want to use this more secure technology.
- But the pace of the migration may have gotten a jolt this month when Visa and Mastercard separately announced moves to get stores up and running more quickly with chip technology.
- Both card companies have said they have streamlined what is known as the certification process, which is effectively a thumbs-up for merchants that their systems are ready to safely accept chip cards.
Visa countersues Wal-Mart in debit card PIN vs signature
- Visa Inc filed a lawsuit against Wal-Mart Stores Inc on Wednesday, claiming the retailer secretly began testing a protocol that eliminated the need for signature verifications for transactions paid for with a Visa debit card.
- The lawsuit comes about a month after Wal-Mart had sued Visa saying the payments network operator was resisting the use of personal identification numbers (PINs) by customers for purchases made on debit cards at Walmart stores.
- Visa said Wal-Mart did not disclose the PIN-only policy to Visa and noted a significant drop in debit card transactions at Walmart stores as well as customer complaints on their inability to use their debit cards at Walmart stores without a PIN, according to a filing in a New York court.
Kroger sues Visa over EMV PIN
- Kroger Co. is suing Visa Inc. over EMV PIN debit-card transactions, claiming that the card network threatened them with increased fees and eliminating debit acceptance capacity in-store, if the nation’s largest grocer refused to abide by Visa’s stated EMV rules.
- Visa informed Kroger their machines are out of compliance with Visa’s requirement that customers be given the choice to verify debit purchases with a signature or a PIN instead of just a PIN when presenting their EMV cards at checkout.
Visa sues Walmart over Chip and PIN policy
- The strained relationship between Visa and Walmart is reaching breaking point as the card scheme files a lawsuit against the supermarket chain for allegedly reneging on an agreement to allow the use of signature verification alongside Chip and PIN for transactions at the till.
- In its suit, Visa claims that Walmart has secretly been testing a protocol that eliminates the need for signature verifications for transactions paid for with a Visa debit card.
Fill out the form below and we will get in touch with you shortly
The Generational Shift in Consumer Shopping Behaviors
With every generation, consumer behaviors change. Gen Z (ages 18-24) and Zillennial (25-26) shoppers grew up online. Many don’t remember a tim...Learn More
An Introduction to Payment Terms and Concepts
The payments space has a language all of its own. Who are acquirers? What’s a payment terminal? What about a PayFac? Whether you’re a new busi...Learn More
How NMI is Making 2023 the Best Year Yet for Our Partners
The payments industry has changed dramatically over the past several years. In 2020, consumer expectations shifted, and we saw a sudden rise i...Learn More
What You Need to Know About Buy Now, Pay Later Legislation
What if you could finance and pay for a purchase over time without a credit check or signing up for a personal loan? Buy Now, Pay Later (BNPL)...Learn More
4 Steps to Make Your ISO Business More Profitable in 2023
As headlines warn of a potential recession, consumers are tightening their belts in preparation for a challenging year. While so much negative...Learn More
NMI Achieves Milestone Year in 2022 With Industry Recognition, Acquisitions and New Partnerships
Through acquisitions and continued platform investments, the company will continue to support partners from sign-up to pay-out across the comm...Learn More
The Evolution of Public Parking Payments
Parking payment solutions have evolved significantly since their inception. The first parking meters were installed in Oklahoma City in 1935 (...Learn More
The State of Public Transportation in the United States, the United Kingdom and Europe
'A developed country is not a place where the poor have cars. It's where the rich use public transportation.' - Gustavo Petro Public transpor...Learn More
Adding Value to Payment Solutions: 3 Ways to Generate More Revenue
Generating more revenue can be tricky - especially as consumers and businesses tighten their belts and cut back on spending. Should you add mo...Learn More
New NMI Report Finds Convenience and Speed Drive Consumers’ Eagerness to Try New Payments Innovations
SCHAUMBURG, IL – JANUARY 17, 2023 – NMI, a leading full commerce enablement technology company, today released its inaugural Payments Innovati...Learn More