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November 12, 2009

Canada: Chip-Enabled Merchants Experience Fewer Chargebacks

New findings announced by Moneris Solutions, Canada's largest payment processor, reveal that "merchants who process chip card transactions are experiencing fewer chargebacks than ever before due to increased security and fraud detection. This is the first data of its kind from Canada and demonstrates that chip cards reduce fraud and chargebacks." READ MORE »

Fed Prohibits Debit Card Overdraft Fees without Consumer Opt-In

FederalReserve-130px.jpgThe Federal Reserve Board has announced final rules that prohibit financial institutions from charging consumers fees for paying overdrafts on automated teller machine (ATM) and one-time debit card transactions, unless a consumer consents, or opts in, to the overdraft service for those types of transactions.

Before opting in, the consumer must be provided a notice that explains the financial institution's overdraft services, including the fees associated with the service, and the consumer's choices. The final rules, along with a model opt-in notice, are issued under Regulation E, which implements the Electronic Fund Transfer Act and are effective July 1, 2010. READ MORE »

Gemalto, eSECURE Technology Partner for Taiwan Contactless

Gemalto has announced that it has deployed its Secure Access Modules (SAM) into existing EasyCard payment terminals in Taiwan with eSECURE Technology. The SAM card is used to upgrade existing payment terminals for contactless use. Upgraded contactless-ready terminals give consumers a simple, fast and secure means to make small sum payments. There are currently around 16 million EasyCards in the market. READ MORE »

UK Cards Association's "Be Card Smart Online" Campaign

To mark the first anniversary of the UK card industry’s Be Card Smart Online initiative, The UK Cards Association is again running its online safety campaign – helping to remind consumers of the steps they can take to minimize their chances of being a victim of card fraud online. READ MORE »

M2 Europe Launches Airmax Scope Prepaid MasterCard

M2 Europe has teamed with fleet technology innovators, Airmax Group, to introduce a transit and corporate payments solution, the Airmax Scope Prepaid MasterCard. The Card combines the benefits of hosted data from vehicles with detailed payment reporting to provide comprehensive online fuel and expense management. READ MORE »

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