Camping World (CWI, Inc.)

The highly anticipated EMV deadline of Oct. 1 has come and gone, leaving many retailers and payment solutions providers to ponder what’s next? As of Oct. 1, 2015, any U.S. retailer that does not have the necessary POS hardware, software, and operational and network protocols in place to process an EMV-compliant chip card transaction faces a shift in fraud liability.

The highly anticipated EMV deadline of October 1 has come and gone, leaving many retailers and payment solutions providers to ponder what’s next?

As of Oct. 1, 2015, any U.S. retailer that does not have the necessary POS hardware, software, and operational and network protocols in place to process an EMV-compliant chip card transaction faces a shift in fraud liability.

As chip-based EMV cards become the payment norm for retailers, Visa continues to assert that PINs and even signatures are unnecessary security measures in a rapidly evolving payments landscape.

In a conference call, Visa executives explained why the company is taking the view that not only is PIN verification not a major concern, but neither is obtaining the customer’s signature.

Hot on the heels of Google’s official launch of Android Pay, Samsung is officially entering the U.S. mobile payment market. Samsung Pay, which launched in South Korea in August, is now available for use by U.S. consumers.

Samsung Pay functionality is built into the hardware of Galaxy S6 and S6 Edge mobile devices. Samsung says Samsung Pay is the first and only mobile payment service that works with both near field communication (NFC) and card readers with magnetic secure transmission (MST) technologies, which means it is already compatible with most POS terminals.

Shopify is keeping busy these days. The cloud-based omnichannel retail platform is launching a new credit card reader that will allow U.S.-based Shopify merchants to securely accept chip and PIN, tap, and swipe credit and debit cards.

The reader will also accept contactless payment technologies like Apple Pay. The device is designed for Shopify POS, the company’s iPad and iPhone POS used by retail and pop-up stores. Shopify is currently accepting pre-orders, with card readers to ship in the fourth quarter of this year.

As of Oct. 1, retailers who do not comply with the Europay, Mastercard, Visa (EMV) security standard that relies on embedded chips in payment cards face a shift in card fraud liability. Many EMV issues have not yet been resolved. Here are three big ones:

Swipe left out
Retailers have been warned repeatedly that if they do not implement EMV-compliant POS terminals, they will bear liability for any fraud resulting from an EMV card transaction.

The upcoming Oct. 1 deadline for retailers to accept EMV-compliant, chip-based payment cards or face increased fraud liability mandates that retailers read card information stored in chips. However, the mandate does not specify whether the card be further verified by a PIN number or customer signature, and the Retail Industry Leaders Association (RILA) has a clear preference.

While the financial industry is supporting the use of chip-and-signature cards to meet the upcoming Oct. 1 EMV mandate, consumers are less convinced.

While the financial industry is supporting the use of chip-and-signature cards to meet the upcoming Oct. 1 EMV mandate, consumers are less convinced.

According to a new survey released by the National Retail Federation (NRF), 62% of U.S. consumers believe new credit cards being issued by banks don’t go far enough to protect card data or prevent fraud.

Arlington, Va. -- A report says that only one in five debit and credit cards are ready for the EMV shift.

As retailers spend billions to upgrade their point of sale terminals to accept new chip cards before the Oct. 1 liability shift deadline, the nation’s largest card network acknowledged that a staggering number of magnetic “swipe” cards have not been replaced with new cards.