PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

PayPal Seeks Regulation Changes

Ron Mazursky by Ron Mazursky
November 1, 2013
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Road blocks reportedly are helping prevent retailers from meeting an October 2015 card network deadline to avoid assuming liability for non-EMV transactions, including requirements that retailers significantly upgrade their payment systems and possibly upgrade or replace card readers at every point-of-sale terminal to accommodate the standard’s sophisticated security measures.

Moreover, whereas the major card brands have all issued specifications on how they plan to accelerate chip migration, domestic debit networks have not, according to comments made to Retail Touchpoints by Dan Heimann, manager of solutions consulting at ACI Worldwide. The debit payment industry includes not only the major credit card brands but nearly 20 independent debit networks, many of which “have yet to declare a direction on how they plan to support EMV in the United States,” he said.

From Retail Touchpoints:

“Where retailers can’t really make a decision today is what kind of programming they need to put into their POS terminals and in-store devices to support debit cards in the U.S. So while they can move forward to a degree with credit, the picture is still very uncertain with debit cards.”–Dan Heimann

For these and other EMV-related migration issues, Mercator Advisory Group continues to anticipate that the card networks will push back their fraud liability shift deadlines consistent with what they have done in other markets that faced similar compliance difficulties. As for the debit networks, they have agreed to a common debit identifier provided by Discover to overcome a problem complying with a “Durbin” rule under the Dodd-Frank Act that merchants be given the option of two debit networks for routing debit transactions. Visa and MasterCard have not supported the networks’ move and instead say they will require issuers to support their debit identifiers as well, thus potentially increasing the issuer cost for chip cards requiring more memory. That ongoing debate between the debit networks and card brands in itself could delay the EMV migration.

Click here to read more from Retail Touchpoints.

Tags: Compliance and Regulation
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    eCommerce On Social Media, social commerce

    The Rise of Social Commerce and Social Payments

    February 3, 2023
    Electroneum AnyTask; ETN Crypto, sales enablement

    Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement

    February 2, 2023
    direct deposit

    Nacha Launches Campaign to Reach Millennials on the Benefits of Direct Deposit

    February 1, 2023
    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Equinix report - Dojo Delivers Fast, Reliable and Secure Card Payments to Businesses on Platform Equinix