Mobile Contactless Payments and Data Privacy

Size: px
Start display at page:

Download "Mobile Contactless Payments and Data Privacy"

Transcription

1 Data Privacy Purpose We are on the cusp of the next major evolution in consumer payments. In the not too distant future, it is likely we will be making payments using our credit and debit cards embedded in our mobile phones. This will create some exciting new opportunities for both retailers and consumers, but as with all changes of this magnitude, there are some questions that need to be answered. The opportunities come about because of the ability to collect much more information at the point of sale, combining and processing that information to create a richer picture all in the one consumer device. Information associated with the payment transaction include the payment receipt, the shopping cart contents and location. This is valuable information in the right hands, but how do we stop this information falling into the wrong hands? This presentation considers in more detail the issue of data privacy with respect to mobile contactless payment. Some Background We have been using payments cards for well over half a century. Retailer issued credit cards have been used in the USA since the 1920s, but Diners Club is often credited with being the first scheme to issue plastic payment cards back in the 1950s, followed by American Express (1958), and then the pre-runner to Visa BankofAmeriCard (1958). The initial implementation was embossed plastic cards. The account information on the card was captured through taking a manual imprint of the card embossed data and submitting this information through the banks to initiate payment from the cardholder account back to the retailer. Since embossed cards, we have seen a relentless progression of evolution. At the beginning of the 1970s the card payment industry began to migrate from embossed cards to magnetic stripe. This enabled card information to be captured electronically and authorised and cleared for settlement using electronic online messages. From this point on, the payment card industry accelerated dramatically through removing the limitations of embossed cards. Magnetic stripe enabled the processing of an exponentially greater volume of transactions and significantly reduced the errors due to the manual handling of embossed data. The electronic capture of magnetic stripe also allowed the introduction of techniques for reducing fraud such as magnetic stripe data verification and PIN for cardholder verification. It can be argued that the subsequent developments in card technology, the introduction of EMV chip, and the capability for multi-application chip cards have not had nearly the same impact on Page 1

2 growth as the advent of magnetic stripe. EMV chip has all been about combating ever more sophisticated attacks against magnetic stripe payment cards, and therefore reducing the costs due to fraud, while the concept of multiple applications on a chip embedded in a plastic card has struggled to gain traction and prove truly beneficial given the limitations of a plastic card and the lack of a user interface. Perhaps the most significant new growth opportunity for the payment card industry in more recent times has come about with the introduction of internet based shopping or e-commerce in the mid 1990s. The card industry was able to grab this opportunity by simply extending the card not present methods of mail order and telephone order (MOTO) to the web browser, albeit accompanied with the same inherent fraud risks. However, the advent of EMV chip has led the payment industry to a potential game changer and this is the ability to have a contactless interface between the chip and the acceptance device. This means the cardholder no longer has to place their payment card into physical contact with the terminal reader, but simply bring the chip within close proximity (i.e. within 4cm) of the reader. This is hugely significant because no longer do we need a plastic card conforming to ISO standard dimensions to swipe or insert into a reader. The chip with the payment application may be embedded into any personal device that is capable of talking to a contactless reader using a feature called Near Field Communications or NFC. The Next Evolution in Payment The ability to embed a credit or debit card payment application into a mobile phone has come about through the converging arrival of two technologies, each from different industries. The banking industry has delivered contactless chip card for payment with a goal to enabling a more convenient payment experience for consumers. In parallel, the telecommunications industry has evolved the mobile phone into what is popularly referred to as a smart phone. Smart phones are proving spectacularly successful with consumers, evidenced by the rapid growth of the Apple iphone and Google Android phone. Probably the most significant feature that has captured the imagination of consumers is the ability to make the device truly personal through easily adding and deleting all sorts of applications. A user has the ability to access an application store and select applications that can simply be downloaded across the mobile phone network and added to the smart phone. Applications that no longer suit the consumer can just as easily be deleted from the phone. This feature, coupled with a visually rich, intuitive user interface, the fact that the device is mobile, is always connected, and is always with the user, means the consumer now has a truly personal device that can be used for all sorts of lifestyle purposes. It seems obvious that one of those lifestyle purposes is to replace the physical leather wallet. Today the typical consumer uses the leather wallet to carry cash, one or more payment cards, numerous loyalty cards and reward coupons, and probably stores shopping card receipts and payment receipts. When at the point of sale, the consumer must remove from the leather wallet the Page 2

3 selected payment card and loyalty card (if the consumer remembers or is reminded) for presentment to the terminal, and then return the cards plus any receipts back to the wallet. However, the experience will be quite different if all the customer s payment cards, loyalty cards, and reward coupons are embedded and stored in a mobile wallet on a smart phone that is able to use NFC to communicate with a contactless reader at the point of sale. The customer will have the ability to organise the cards in the mobile wallet, perhaps in order of priority. The phone will then be presented to the terminal reader, and the mobile wallet and reader will agree on which payment and/or loyalty applications will be used based on what is accepted by the retailer and the customer preferences set in the mobile wallet. At the conclusion of the transaction, the terminal can electronically return to the phone the results of the transaction such as payment receipt, shopping cart contents, loyalty earned and other information such as location, promotions and incentives. All this happens with one tap. Creating Opportunities It is this information resulting from the interaction between customer and retailer at the point of sale that can be collected and stored in the mobile phone that offers some exciting new opportunities for both customer and retailer. The opportunities arise if the customer is truly using their mobile phone as the primary method of conducting all payments, and the phone is collecting information resulting from all payment transactions in real time. This information may then be made available to multiple applications on the phone, and accessed remotely across the phone s network connections or via NFC. Consider the example of the benefits to a retailer where the retailer is better able to know and target their customer through highly focussed promotion. Assume a customer who has installed a particular retailer s application on their phone. The application tracks the behaviour of the customer at the retailer by recording the customer s purchases in terms of shopping card contents. The application is also able to alert the retailer when the customer is in the vicinity of the store using phone based location services. When the customer next comes within range of the retailer store, the application allows the retailer to instantaneously offer the customer an incentive to come into the store and make a purchase, based on past customer preferences as tracked by the retailer provided application on the phone. Conversely, the same technology allows customers to achieve benefits which might include, taking advantage of customised promotions, the ability to get the best deal through instant price comparisons, discover whether a particular product is available in the local vicinity, collect electronic receipts for both payment and shopping cart contents, and use such information to track spending and control budgets. These opportunities are all possible because the mobile phone is able to support applications that talk to the outside world, either via NFC to a point of sale terminal, across the mobile phone network (over the air) or across the internet, and collect and share transaction information via these connections. These applications can be provided by various parties all competing for the attention of the customer which could include mobile phone operators, handset manufacturers, or service Page 3

4 providers. Applications might be mobile wallets, or service provider applications such as payment, retail, or transit. Threat All of these applications, from the various providers can potentially collect and share data. As a customer, we might download several retailer applications and enable each retailer to track our activity within their store, knowing full well that the information captured by each application may be used to influence our behaviour. But can we be sure that one application, whether it is a mobile wallet or one service provider s application, is not accessing the data particular to another application. There is a data privacy threat if the customer is not able to control access to information collected by applications on the phone. Potential examples of threats of unauthorised access and use of data could include -: - One application accessing another applications data (i.e. spend pattern, shopping basket data, location); - One service provider accessing the data resulting from the interaction between the customer and a competing service provider in the same industry to achieve competitive advantage; - A wallet provider obtaining a complete view of a customer s total retail behaviour across multiple payment instruments and/or multiple retailers. Mitigating the Threat Data privacy must be ensured by enforcing two key principles - Defining who is the owner of the data; - Ensuring that the owner of the data provides explicit permission for access to the data. The good news is that these principles are nothing new. We do this today in the physical world, and we need to ensure that these principles continue to be upheld for mobile contactless payments. The implementation can be achieved via a three pronged approach. 1. Technology chip technology allows the securing and protection of data and the provision of access control to data; 2. Standards setting minimum standards for the application of technology to ensure sufficient protection and access control 3. Regulation regulate to protect data and define ownership and who can have access There are challenges still to be addressed in ensuring data privacy in this space. Not least of all is that we are dealing with evolving technology that is still developing at speed, the technology does not respect international borders with global standards still evolving, and the technology is not yet well understood by industry regulators. To deal with this challenge requires global pan industry cooperation and agreement. Page 4

5 However, the issue of data privacy must be addressed in order to ensure that both retailers and consumers continue to maintain trust in the integrity of our payment systems. Page 5

A Brand New Checkout Experience

A Brand New Checkout Experience A Brand New Checkout Experience EMV Transformation EMV technology is transforming the U.S. payment industry, bringing a whole new experience to the checkout counter. Introduction What is EMV? It s 3 small

More information

A Brand New Checkout Experience

A Brand New Checkout Experience A Brand New Checkout Experience EMV Transformation EMV technology is transforming the U.S. payment industry, bringing a whole new experience to the checkout counter. Introduction What is EMV? It s 3 small

More information

What Merchants Need to Know About EMV

What Merchants Need to Know About EMV Effective November 1, 2014 1. What is EMV? EMV is the global standard for card present payment processing technology and it s coming to the U.S. EMV uses an embedded chip in the card that holds all the

More information

ACQUIRER OR ACQUIRING BANK A financial institution (often a bank) where a merchant has an account to process transactions and card payments

ACQUIRER OR ACQUIRING BANK A financial institution (often a bank) where a merchant has an account to process transactions and card payments A TO Z JARGON BUSTER A ACQUIRER OR ACQUIRING BANK A financial institution (often a bank) where a merchant has an account to process transactions and card payments ATM Automated Teller Machine. Unattended,

More information

INTRODUCTION AND HISTORY

INTRODUCTION AND HISTORY INTRODUCTION AND HISTORY EMV is actually younger than we all may think as it only became available, as a specification that could be implemented, in 1996. The evolution of EMV can be seen in the development

More information

Making the Move to EMV: The Risks and the Rewards

Making the Move to EMV: The Risks and the Rewards White paper A First Capital Payments Smart Guide Making the Move to EMV: The Risks and the Rewards Understanding, Implementing, and Benefitting From EMV Technology By: Hiram Hernandez, Jr. CEO, First Capital

More information

EMV and Small Merchants:

EMV and Small Merchants: September 2014 EMV and Small Merchants: What you need to know Mike English Executive Director, Product Development Heartland Payment Systems 2014 Heartland Payment Systems, Inc. All trademarks, service

More information

A Guide to EMV. Version 1.0 May 2011. Copyright 2011 EMVCo, LLC. All rights reserved.

A Guide to EMV. Version 1.0 May 2011. Copyright 2011 EMVCo, LLC. All rights reserved. A Guide to EMV Version 1.0 May 2011 Objective Provide an overview of the EMV specifications and processes What is EMV? Why EMV? Position EMV in the context of the wider payments industry Define the role

More information

Figure 1: Attacker home-made terminal can read some data from your payment card in your pocket

Figure 1: Attacker home-made terminal can read some data from your payment card in your pocket A Touchy Subject There are increasingly frequent claims that contactless smart payment cards are insecure because they can be read while in your wallet or pocket. Can this really be true? And if so, is

More information

The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses. National Computer Corporation www.nccusa.com

The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses. National Computer Corporation www.nccusa.com The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses The Impact of Emerging Payment Technologies on Retail and Hospitality Businesses Making the customer payment process convenient,

More information

The Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group

The Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group The Adoption of EMV Technology in the U.S. By Dave Ewald Global Industry Sales Consultant Datacard Group Abstract: Visa Inc. and MasterCard recently announced plans to accelerate chip migration in the

More information

EMV and Restaurants: What you need to know. Mike English. October 2014. Executive Director, Product Development Heartland Payment Systems

EMV and Restaurants: What you need to know. Mike English. October 2014. Executive Director, Product Development Heartland Payment Systems October 2014 EMV and Restaurants: What you need to know Mike English Executive Director, Product Development Heartland Payment Systems 2014 Heartland Payment Systems, Inc. All trademarks, service marks

More information

permitting close proximity communication between devices in this case a phone and a terminal.

permitting close proximity communication between devices in this case a phone and a terminal. MOBILE PAYMENT What it is. How it works. What it means for Canadians. By EnStream LP for the House of Commons Finance Committee February 13, 2014 INTRODUCTION EnStream was established by Bell, Rogers and

More information

Frequently asked questions - Visa paywave

Frequently asked questions - Visa paywave Frequently asked questions - Visa paywave What is Visa paywave? Visa paywave is a new contactless method of payment - the latest evolution in Visa payments. It is a simple, secure and quick payment method

More information

We believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating

We believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating Given recent payment data breaches, clients are increasingly demanding robust security and fraud solutions; and Financial institutions continue to outsource and leverage technology providers given their

More information

Question & Answer. Answer:

Question & Answer. Answer: What is a chip card? A chip card is a standard-size plastic debit or credit card that contains an embedded microchip, as well as the traditional magnetic stripe. The chip protects in-store payments because

More information

EMV 101: What small businesses need to know

EMV 101: What small businesses need to know EMV 101: What small businesses need to know DEMETRIOS MARANTIS, Head of Global Policy and Government Affairs OWEN J ENNINGS, Square Business Team June 2015 Cosponsorship Authorization # 15-2050-102. SBA

More information

Inside the Mobile Wallet: What It Means for Merchants and Card Issuers

Inside the Mobile Wallet: What It Means for Merchants and Card Issuers Inside the Mobile Wallet: What It Means for Merchants and Card Issuers Welcome to the age of Universal Commerce commerce that is integrated, personalized, secure, open, and smart. The lines between in-store

More information

EMV and Chip Cards Key Information On What This Is, How It Works and What It Means

EMV and Chip Cards Key Information On What This Is, How It Works and What It Means EMV and Chip Cards Key Information On What This Is, How It Works and What It Means Document Purpose This document is intended to provide information about the concepts behind and the processes involved

More information

Mobile Payment: The next step of secure payment VDI / VDE-Colloquium. Hans-Jörg Frey Senior Product Manager May 16th, 2013

Mobile Payment: The next step of secure payment VDI / VDE-Colloquium. Hans-Jörg Frey Senior Product Manager May 16th, 2013 Mobile Payment: The next step of secure payment VDI / VDE-Colloquium May 16th, 2013 G&D has been growing through continuous innovation Server software and services Token and embedded security Cards for

More information

HSBC Visa Debit Card. Making the most of your card. HSBC Customer Service Centre. Go to hsbc.com.au/debit

HSBC Visa Debit Card. Making the most of your card. HSBC Customer Service Centre. Go to hsbc.com.au/debit HSBC Customer Service Centre Go to hsbc.com.au/debit Call 1300 308 008 from Australia +61 2 9005 8131 from Overseas 24 hours a day, 7 days a week ^Visa Zero Liability subject to investigation of unauthorised

More information

THE FIVE Ws OF EMV BY DAVE EWALD GLOBAL EMV CONSULTANT AND MANAGER DATACARD GROUP

THE FIVE Ws OF EMV BY DAVE EWALD GLOBAL EMV CONSULTANT AND MANAGER DATACARD GROUP THE FIVE Ws OF EMV BY DAVE EWALD GLOBAL EMV CONSULTANT AND MANAGER DATACARD GROUP WHERE IS THE U.S. PAYMENT CARD INDUSTRY NOW? WHERE IS IT GOING? Today, payment and identification cards of all types (credit

More information

Mobile Near-Field Communications (NFC) Payments

Mobile Near-Field Communications (NFC) Payments Mobile Near-Field Communications (NFC) Payments OCTOBER 2013 GENERAL INFORMATION American Express continues to develop its infrastructure and capabilities to support growing market interest in mobile payments

More information

MOBILE NEAR-FIELD COMMUNICATIONS (NFC) PAYMENTS

MOBILE NEAR-FIELD COMMUNICATIONS (NFC) PAYMENTS MOBILE NEAR-FIELD COMMUNICATIONS (NFC) PAYMENTS MAY 2013 THESE TECHNOLOGIES ARE BECOMING CONVENIENT AND SIMPLE WAYS TO PAY. Every day merchants seek better ways to grow their business and improve efficiency.

More information

CREDIT CARD PROCESSING GLOSSARY OF TERMS

CREDIT CARD PROCESSING GLOSSARY OF TERMS CREDIT CARD PROCESSING GLOSSARY OF TERMS 3DES A highly secure encryption system that encrypts data 3 times, using 3 64-bit keys, for an overall encryption key length of 192 bits. Also called triple DES.

More information

EMV FAQs. Contact us at: CS@VancoPayments.com. Visit us online: VancoPayments.com

EMV FAQs. Contact us at: CS@VancoPayments.com. Visit us online: VancoPayments.com EMV FAQs Contact us at: CS@VancoPayments.com Visit us online: VancoPayments.com What are the benefits of EMV cards to merchants and consumers? What is EMV? The acronym EMV stands for an organization formed

More information

Chip cards are more secure. When will we begin reissuing the cards? How are chip cards used at merchants?

Chip cards are more secure. When will we begin reissuing the cards? How are chip cards used at merchants? Chip cards are more secure An embedded computer chip in each chip card adds a new layer of security to point-of-sale and ATM transactions when used in chip-enabled card readers. These cards help protect

More information

Understand the Business Impact of EMV Chip Cards

Understand the Business Impact of EMV Chip Cards Understand the Business Impact of EMV Chip Cards 3 What About Mail/Telephone Order and ecommerce? 3 What Is EMV 3 How Chip Cards Work 3 Contactless Technology 4 Background: Behind the Curve 4 Liability

More information

The Canadian Migration to EMV. Prepared By:

The Canadian Migration to EMV. Prepared By: The Canadian Migration to EMV Prepared By: December 1993 Everyone But The USA Is Migrating The international schemes decided Smart Cards are the way forward Europay, MasterCard & Visa International Produced

More information

U.S. Mobile Payments Landscape NCSL Legislative Summit 2013

U.S. Mobile Payments Landscape NCSL Legislative Summit 2013 U.S. Mobile Payments Landscape NCSL Legislative Summit 2013 Marianne Crowe Vice President, Payment Strategies Federal Reserve Bank of Boston August 13, 2013 2 Agenda Overview of Mobile Payments Landscape

More information

ATM Webinar Questions and Answers May, 2104

ATM Webinar Questions and Answers May, 2104 May, 2104 Debit Network Alliance LLC (DNA) is a Delaware Limited Liability Company currently comprised of 10 U.S. Debit Networks and open to all U.S. Debit Networks. The goal of this collaborative effort

More information

American Express Contactless Payments

American Express Contactless Payments PRODUCT CAPABILITY GUIDE American Express Contactless Payments American Express Contactless Payments Help Enable Increased Convenience For Card Members At The Point Of Sale American Express contactless

More information

welcome to liber8:payment

welcome to liber8:payment liber8:payment welcome to liber8:payment Our self-service kiosks free up staff time and improve the overall patron experience. liber8:payment further enhances these benefits by providing the convenience

More information

U.S. Bank. U.S. Bank Chip Card FAQs for Program Administrators. In this guide you will find: Explaining Chip Card Technology (EMV)

U.S. Bank. U.S. Bank Chip Card FAQs for Program Administrators. In this guide you will find: Explaining Chip Card Technology (EMV) U.S. Bank U.S. Bank Chip Card FAQs for Program Administrators Here are some frequently asked questions Program Administrators have about the replacement of U.S. Bank commercial cards with new chip-enabled

More information

Changing Consumer Purchasing Patterns. John Mayleben, CPP SVP, Technology and Product Development Michigan Retailers Association

Changing Consumer Purchasing Patterns. John Mayleben, CPP SVP, Technology and Product Development Michigan Retailers Association Changing Consumer Purchasing Patterns John Mayleben, CPP SVP, Technology and Product Development Michigan Retailers Association Michigan Retailers Association! Michigan Retailers Association is trade

More information

Payments simplified. 1

Payments simplified. 1 1 Payments simplified. T H E PAY M E N T I N D U S T RY A I N T W H AT I T U S E D T O B E 2 Complexity is increasing, More change in next 5, than last 50 Emerging payments / loyalty / rewards / coupons

More information

DEBIT CARD UPGRADE. introducing your new. Bank Independent Debit Card

DEBIT CARD UPGRADE. introducing your new. Bank Independent Debit Card DEBIT CARD UPGRADE introducing your new Bank Independent Debit Card 1 Table of Contents Why We re Changing...3 Meet Your New BI Debit Card...4 What To Expect...5 Important Dates...6 When Your Card Arrives...7

More information

Community Financial Institution EMV Readiness

Community Financial Institution EMV Readiness Community Financial Institution EMV Readiness EMV is a trademark owned by EMVCo LLC 2014 First Data Corporation. All Rights Reserved. Copyright 2014 First Data Corporation EMV Timeline 2011: EMV technology

More information

Revision Date: March 2016

Revision Date: March 2016 Revision Date: March 2016 Contents Quick-Start Guide 5 Performing a Transaction in Four Steps 5 Prerequisites 5 Processing a Transaction 5 Getting Started with Converge Mobile 6 What Is Converge? 6 What

More information

BGS MOBILE PLATFORM HCE AND CLOUD BASED PAYMENTS

BGS MOBILE PLATFORM HCE AND CLOUD BASED PAYMENTS HCE AND CLOUD BASED PAYMENTS 1 Contactless payments are vital for further development of the payment industry. More than 3 mln POS terminals around the globe can accept contactless payments. Mobile phones

More information

Merchant Services Payment Solutions for Your Business

Merchant Services Payment Solutions for Your Business Merchant Services Payment Solutions for Your Business Products & Services Highlights Processing Solutions VISA, MC, Discover, JCB, Diners, American Express, China UnionPay Multi Currency Cross Border Dynamic

More information

Apple Pay and loyalty

Apple Pay and loyalty Author: Peter Ballard December: 2015 Foolproof 2015 London Norwich Singapore Apple Pay s adoption Early signs from both the US and UK indicate that Apple Pay s adoption has been lacklustre. However, Foolproof

More information

Smart Cards for Payment Systems

Smart Cards for Payment Systems White Paper Smart Cards for Payment Systems An Introductory Paper describing how Thales e-security can help banks migrate to Smart Card Technology Background In this paper: Background 1 The Solution 2

More information

Euronet Software Solutions Integrated Credit Card System Improve your organization s marketability, profitability and revenue

Euronet Software Solutions Integrated Credit Card System Improve your organization s marketability, profitability and revenue Secure Financial Transactions Any Time, Any Place Euronet Software Solutions Integrated Credit Card System Improve your organization s marketability, profitability and revenue Serving millions of people

More information

The Future is Contactless

The Future is Contactless Contactless Implementation and Benefits The Future is Contactless One of the most exciting new applications to be launched in the payment world is contactless payment. The technology is already available

More information

The EMV Readiness. Collis America. Guy Berg President, Collis America berg@collisamerica.com +1 651 925 5411

The EMV Readiness. Collis America. Guy Berg President, Collis America berg@collisamerica.com +1 651 925 5411 The EMV Readiness Collis America Guy Berg President, Collis America berg@collisamerica.com +1 651 925 5411 1 Collis Solutions & Markets Finance Consultancy Card Payments SEPA Financial Risk Mgmt Test Tools

More information

Payment Card Industry (PCI) Data Security Standard. PCI DSS Applicability in an EMV Environment A Guidance Document Version 1

Payment Card Industry (PCI) Data Security Standard. PCI DSS Applicability in an EMV Environment A Guidance Document Version 1 Payment Card Industry (PCI) Data Security Standard PCI DSS Applicability in an EMV Environment A Guidance Document Version 1 Release date: 5 October 2010 Table of Contents 1 Executive Summary... 3 1.1

More information

OVERVIEW OF MOBILE PAYMENT LANDSCAPE

OVERVIEW OF MOBILE PAYMENT LANDSCAPE OVERVIEW OF MOBILE PAYMENT LANDSCAPE NEACH FORUM September 10, 2014 Marianne Crowe Federal Reserve Bank of Boston Disclaimer: The views expressed in this presentation are those of the presenter and do

More information

OVERVIEW OF MOBILE PAYMENT LANDSCAPE Marianne Crowe Federal Reserve Bank of Boston NEACH September 10, 2014

OVERVIEW OF MOBILE PAYMENT LANDSCAPE Marianne Crowe Federal Reserve Bank of Boston NEACH September 10, 2014 OVERVIEW OF MOBILE PAYMENT LANDSCAPE Marianne Crowe Federal Reserve Bank of Boston NEACH September 10, 2014 Disclaimer: The views expressed in this presentation are those of the presenter and do not necessarily

More information

Emerging Trends in the Payment Ecosystem: The Good, the Bad and the Ugly DAN KRAMER

Emerging Trends in the Payment Ecosystem: The Good, the Bad and the Ugly DAN KRAMER Emerging Trends in the Payment Ecosystem: The Good, the Bad and the Ugly DAN KRAMER SHAZAM, Senior Vice President Agenda The Ugly Fraud The Bad EMV? The Good Tokenization and Other Emerging Payment Options

More information

Payments Transformation - EMV comes to the US

Payments Transformation - EMV comes to the US Accenture Payment Services Payments Transformation - EMV comes to the US In 1993 Visa, MasterCard and Europay (EMV) came together and formed EMVCo 1 to tackle the global challenge of combatting fraudulent

More information

Mobile Commerce. Deepankar Roy, Ph.D. National Institute of Bank Management, Pune, India

Mobile Commerce. Deepankar Roy, Ph.D. National Institute of Bank Management, Pune, India Mobile Commerce Deepankar Roy, Ph.D. National Institute of Bank Management, Pune, India Outline What is mobile commerce? What are the different ways through which mobile commerce happens? Mobile Commerce

More information

Opinion piece. The mobile wallet already exists! It s called mobile banking. By Simon Cadbury Head of Strategy & Innovation Intelligent Environments

Opinion piece. The mobile wallet already exists! It s called mobile banking. By Simon Cadbury Head of Strategy & Innovation Intelligent Environments Opinion piece The mobile wallet already exists! It s called mobile banking By Simon Cadbury Head of Strategy & Innovation Intelligent Environments What do we mean by a Mobile Wallet? The term Mobile Wallet

More information

EMV Chip and PIN. Improving the Security of Federal Financial Transactions. Ian W. Macoy, AAP August 17, 2015

EMV Chip and PIN. Improving the Security of Federal Financial Transactions. Ian W. Macoy, AAP August 17, 2015 EMV Chip and PIN Improving the Security of Federal Financial Transactions Ian W. Macoy, AAP August 17, 2015 Agenda 1. Executive Order 13681 2. What Is EMV? 3. Federal Agency Payment Card Acceptance Environment

More information

Apple Pay FREQUENTLY ASKED QUESTIONS

Apple Pay FREQUENTLY ASKED QUESTIONS Apple Pay FREQUENTLY ASKED QUESTIONS At Park Bank, we want to make it easy and secure for you to use your credit card to make payments in stores and online. That s why we re pleased to offer Apple Pay

More information

Smart Card 101: Overview of Smart Card Technology. Margaret Free APTA Fare Collection 101 Miami, FL March 28, 2011

Smart Card 101: Overview of Smart Card Technology. Margaret Free APTA Fare Collection 101 Miami, FL March 28, 2011 Smart Card 101: Overview of Smart Card Technology Margaret Free APTA Fare Collection 101 Miami, FL March 28, 2011 Overview Contactless Card Physical Characteristics Credit card sized device Contains one

More information

MOBILE PAYMENT INNOVATIVE SOLUTIONS. Modular, global, flexible and secure

MOBILE PAYMENT INNOVATIVE SOLUTIONS. Modular, global, flexible and secure MOBILE PAYMENT INNOVATIVE SOLUTIONS Modular, global, flexible and secure 2 THE FUTURE OF PAYMENT IS MOBILE MOBILE PAYMENT Wirecard is an end-to-end provider of solutions and services for multifunctional,

More information

Android pay. Frequently asked questions

Android pay. Frequently asked questions Android pay Frequently asked questions June 2015 Android Pay - FAQs In May 2015, Android Pay was announced by Google. Android Pay is Google s payments solution that allows consumers to do in-store and

More information

Fiscal Service EMV Education Series EMV-Compliant Point-of-Sale Card Acceptance for Federal Agencies. Fiscal Service / Vantiv July 27, 2015

Fiscal Service EMV Education Series EMV-Compliant Point-of-Sale Card Acceptance for Federal Agencies. Fiscal Service / Vantiv July 27, 2015 Fiscal Service EMV Education Series EMV-Compliant Point-of-Sale Card Acceptance for Federal Agencies Fiscal Service / Vantiv July 27, 2015 Disclaimer: This communication, including any content herein and/or

More information

Euronet Software Solutions Recharge Solution

Euronet Software Solutions Recharge Solution Serving millions of people worldwide with electronic payment convenience. Recharge Solution Deliver the Ultimate Convenience of Top-Up to Your Customers Today Recharge Solution GLOBAL PROVIDER FOR ALL

More information

A Guide to EMV Version 1.0 May 2011

A Guide to EMV Version 1.0 May 2011 Table of Contents TABLE OF CONTENTS... 2 LIST OF FIGURES... 4 1 INTRODUCTION... 5 1.1 Purpose... 5 1.2 References... 5 2 BACKGROUND... 6 2.1 What is EMV... 6 2.2 Why EMV... 7 3 THE HISTORY OF EMV... 8

More information

Smart Card Security Access Modules in VeriFone Omni 3350 Countertop and Omni 3600 Portable Terminals

Smart Card Security Access Modules in VeriFone Omni 3350 Countertop and Omni 3600 Portable Terminals Security Access Module White Paper Smart Card Security Access Modules in VeriFone Omni 3350 Countertop and Omni 3600 Portable Terminals With the proliferation of smart card solutions, VeriFone s use of

More information

THE APPEAL FOR CONTACTLESS PAYMENT 3 AVAILABLE CONTACTLESS TECHNOLOGIES 3 USING ISO 14443 BASED TECHNOLOGY FOR PAYMENT 4

THE APPEAL FOR CONTACTLESS PAYMENT 3 AVAILABLE CONTACTLESS TECHNOLOGIES 3 USING ISO 14443 BASED TECHNOLOGY FOR PAYMENT 4 CONTACTLESS THE APPEAL FOR CONTACTLESS 3 AVAILABLE CONTACTLESS TECHNOLOGIES 3 USING ISO 14443 BASED TECHNOLOGY FOR 4 DESIGNING AN EMV LIKE CONTACTLESS SYSTEM 5 INGENICO, LEADER IN CONTACTLESS TECHNOLOGY

More information

A Guide to Contactless Cards

A Guide to Contactless Cards A Guide to Contactless Cards 1 Guide to Contactless Cards Ever since they were first introduced to the UK market over 50 years ago, credit cards have been in a constant state of evolution, as card issuers

More information

EMV Defined. Near Field Communications (NFC) Card brand mandates and incentives for EMV Allegiance s EMV plans

EMV Defined. Near Field Communications (NFC) Card brand mandates and incentives for EMV Allegiance s EMV plans EMV Defined Near Field Communications (NFC) Card brand mandates and incentives for EMV Allegiance s EMV plans 2 2 EMV Defined 4 EMVCo s primary purpose since 1994 is to define a global standard for credit

More information

ed Questions Chip Card for U.S. Commercial Card General What is a chip card?* What are the benefits of a chip card?*

ed Questions Chip Card for U.S. Commercial Card General What is a chip card?* What are the benefits of a chip card?* Chip Card for U.S. Commercial Card Below are some frequently asked questions to help you understand the chip card benefits and usage, as well as, chip card program management. General 1. What is a chip

More information

NFC technology user guide. Contactless payment by mobile

NFC technology user guide. Contactless payment by mobile Contactless payment by mobile Table of contents 1. What is contactless payment by mobile? 2. What do I need to shop with my mobile phone? 3. How can I manage a Mobile Card? 4. How do I shop with my mobile

More information

We make cards and payments work for people as a part of everyday life. We bring information to life

We make cards and payments work for people as a part of everyday life. We bring information to life We make cards and payments work for people as a part of everyday life We bring information to life 2 EVRY is a leading IT company in the Nordic region. Through advice, technology and solutions, EVRY brings

More information

PayLeap Guide. One Stop

PayLeap Guide. One Stop PayLeap Guide One Stop PayLeap does it all. Take payments in person? Check. Payments over the phone or by mail? Check. Payments from mobile devices? Of course. Online payments? No problem. In addition

More information

Evolving Mobile Payments Industry Landscape

Evolving Mobile Payments Industry Landscape Evolving Mobile Payments Industry Landscape Mobile Banking: Can the Unbanked Bank on It? Sargent Shriver National Center on Poverty Law webinar August 16, 2012 Marianne Crowe Federal Reserve Bank of Boston

More information

NFC technology user guide. Contactless payment by mobile

NFC technology user guide. Contactless payment by mobile Contactless payment by mobile Table of contents 1. What is contactless payment by mobile? 2. What do I need to shop with my mobile phone? 3. How can I manage a Mobile Card? 4. How do I shop with my mobile

More information

University Policy Accepting Credit Cards to Conduct University Business

University Policy Accepting Credit Cards to Conduct University Business BROWN UNIVERSITY University Policy Accepting Credit Cards to Conduct University Business Purpose Brown University requires all departments that are involved with credit card handling to do so in compliance

More information

Chip Card (EMV ) CAL-Card FAQs

Chip Card (EMV ) CAL-Card FAQs U.S. Bank Chip Card (EMV ) CAL-Card FAQs Below are answers to some frequently asked questions about the migration to U.S. Bank chipenabled CAL-Cards. This guide can help ensure that you are prepared for

More information

CANADA VS THE USA - THE CONTRAST AND LESSONS FOR MOBILE PAYMENTS

CANADA VS THE USA - THE CONTRAST AND LESSONS FOR MOBILE PAYMENTS CANADA VS THE USA - THE CONTRAST AND LESSONS FOR MOBILE PAYMENTS Presented by: Jacqueline Chilton, Founding Partner, Muration Group Catherine Johnston, President & CEO ACT Canada Muration Group 2014 2

More information

EDUCATION - TERMS 101

EDUCATION - TERMS 101 EDUCATION - TERMS 101 ACH (Automated Clearing House): A processing organization networked with others to exchange (clear and settle) electronic debit/credit transactions (no physical checks). ABA Routing

More information

Preparing for EMV chip card acceptance

Preparing for EMV chip card acceptance Preparing for EMV chip card acceptance Ben Brown Vice President, Regional Sales Manager, Wells Fargo Merchant Services Lily Page Vice President, Wholesale ereceivables, Wells Fargo Merchant Services June

More information

PROVIDING FUND UPDATES TO A STORED VALUE CARD

PROVIDING FUND UPDATES TO A STORED VALUE CARD Technical Disclosure Commons Defensive Publications Series February 03, 2016 PROVIDING FUND UPDATES TO A STORED VALUE CARD Aneto Okonkwo Erwin Aitenbichler Iyad Assad Follow this and additional works at:

More information

WIRELESS - GPRS iwl250 POS SOLUTION

WIRELESS - GPRS iwl250 POS SOLUTION WIRELESS - GPRS iwl250 POS SOLUTION In this report, MONEXgroup presents the iwl250 Wireless POS Solution designed for mobility and accessibility of service. For businesses on-the-move, the iwl250 delivers

More information

toast EMV in 2015: How Restaurants Can Prepare for the New Chip-and-Pin Standard

toast EMV in 2015: How Restaurants Can Prepare for the New Chip-and-Pin Standard toast EMV in 2015: How Restaurants Can Prepare for the New Chip-and-Pin Standard Table of Contents For more than 40 years, merchants and consumers have used magnetic stripe credit cards and compatible

More information

How Secure are Contactless Payment Systems?

How Secure are Contactless Payment Systems? SESSION ID: HT-W01 How Secure are Contactless Payment Systems? Matthew Ngu Engineering Manager RSA, The Security Division of EMC Chris Scott Senior Software Engineer RSA, The Security Division of EMC 2

More information

EMV Questions and Answers

EMV Questions and Answers The following is a listing of the most popular questions and their answers that SHAZAM has received to date on EMV (chip-and-pin technology). We will update this document as additional questions are received.

More information

CITGO CHIP & MOBILE TM. Quick-Start Guide YOUR CUSTOMERS. are

CITGO CHIP & MOBILE TM. Quick-Start Guide YOUR CUSTOMERS. are CITGO CHIP & MOBILE TM Quick-Start Guide are YOUR CUSTOMERS EMV CHIP CARD This... plus this... MOBILE PAYMENTS 1 Equals Success GET AHEAD FOR YOUR CUSTOMERS STAY AHEAD FOR YOUR BUSINESS. Fast Convenient

More information

MasterCard Contactless Reader v3.0. INTRODUCTION TO MASTERCARD CONTACTLESS READER v3.0

MasterCard Contactless Reader v3.0. INTRODUCTION TO MASTERCARD CONTACTLESS READER v3.0 MasterCard Contactless Reader v3.0 INTRODUCTION TO MASTERCARD CONTACTLESS READER v3.0 Introduction to MasterCard Contactless Reader v3.0 Contents 1. Introduction...2 2. Background...3 2.1 Reader Applications...3

More information

FUTURE PROOF TERMINAL QUICK REFERENCE GUIDE. Review this Quick Reference Guide to. learn how to run a sale, settle your batch

FUTURE PROOF TERMINAL QUICK REFERENCE GUIDE. Review this Quick Reference Guide to. learn how to run a sale, settle your batch QUICK REFERENCE GUIDE FUTURE PROOF TERMINAL Review this Quick Reference Guide to learn how to run a sale, settle your batch and troubleshoot terminal responses. INDUSTRY Retail and Restaurant APPLICATION

More information

EFTPOS Merchant Facilities Quick Reference Guide

EFTPOS Merchant Facilities Quick Reference Guide EFTPOS Merchant Facilities Quick Reference Guide How to Use this Guide This handy Quick Reference Guide has been designed to give you step-by-step, easy-to-follow instructions on how to correctly use your

More information

MasterCard. all. you need to. know USER GUIDE AND TERMS & CONDITIONS

MasterCard. all. you need to. know USER GUIDE AND TERMS & CONDITIONS Debit MasterCard all you need to know USER GUIDE AND TERMS & CONDITIONS 1 Debit MasterCard contents Benefits of your Debit MasterCard...5 Getting started...6 Understanding your card...6 Using your card...8

More information

Friday, June 5, 2015 3:15 p.m.

Friday, June 5, 2015 3:15 p.m. MCUL & Affiliates 2015 Annual Convention and Exposition Mobile Payments Greatest Opportunity or Biggest Threat? Amy Smith, AAP, CAE President & CEO The Payments Authority Friday, June 5, 2015 3:15 p.m.

More information

Enhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011

Enhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011 Enhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011 On 5 th March 2010, The Association of Banks in Singapore announced key measures to adopt a holistic

More information

CONTENTS. Quick-Start Guide 5. Performing a Transaction in Five Steps 5. Prerequisites 5 Processing a Transaction 5

CONTENTS. Quick-Start Guide 5. Performing a Transaction in Five Steps 5. Prerequisites 5 Processing a Transaction 5 CONTENTS Quick-Start Guide 5 Performing a Transaction in Five Steps 5 Prerequisites 5 Processing a Transaction 5 Getting Started with Converge Mobile 6 What is Converge Mobile? 6 What is Converge? 6 What

More information

EMV/NFC/MOBILE PAYMENTS THE TIME IS NOW THE OPPORTUNITY IS HUGE

EMV/NFC/MOBILE PAYMENTS THE TIME IS NOW THE OPPORTUNITY IS HUGE EMV/NFC/MOBILE PAYMENTS THE TIME IS NOW THE OPPORTUNITY IS HUGE REMEMBER WHEN. What year did VeriFone release the Tranz 330 2 REMEMBER WHEN. 1987 3 WHAT IS CHANGING? EVERYTHING Legislation PCI EMV NFC

More information

EMV in Hotels Observations and Considerations

EMV in Hotels Observations and Considerations EMV in Hotels Observations and Considerations Just in: EMV in the Mail Customer Education: Credit Card companies have already started customer training for the new smart cards. 1 Questions to be Answered

More information

GLOSSARY OF MOST COMMONLY USED TERMS IN THE MERCHANT SERVICES INDUSTRY

GLOSSARY OF MOST COMMONLY USED TERMS IN THE MERCHANT SERVICES INDUSTRY GLOSSARY OF MOST COMMONLY USED TERMS IN THE MERCHANT SERVICES INDUSTRY Acquiring Bank The bank or financial institution that accepts credit and/or debit card payments for products or services on behalf

More information

PCI DSS Compliance Services January 2016

PCI DSS Compliance Services January 2016 PCI DSS Compliance Services January 2016 20160104-Galitt-PCI DSS Compliance Services.pptx Agenda 1. Introduction 2. Overview of the PCI DSS standard 3. PCI DSS compliance approach Copyright Galitt 2 Introduction

More information

Apple Pay. Frequently Asked Questions UK Launch

Apple Pay. Frequently Asked Questions UK Launch Apple Pay Frequently Asked Questions UK Launch Version 1.0 2015 First Data Corporation. All Rights Reserved. All trademarks, service marks and trade names referenced in this material are the property of

More information

TACCBO 2015 E Commerce

TACCBO 2015 E Commerce TACCBO 2015 E Commerce DOE Proposed Rules on Cash Management DOE has introduced prospective rules that will affect cash management distribution of credit balances. Rules will impact student choice of how

More information

LOYALTY PROGRAMS: BUILDING CUSTOMER LOYALTY TO BUILD PROFITS

LOYALTY PROGRAMS: BUILDING CUSTOMER LOYALTY TO BUILD PROFITS LOYALTY PROGRAMS: BUILDING CUSTOMER LOYALTY TO BUILD PROFITS Loyalty is one of the great engines of business success. Frederick F. Reicheld, author of The Loyalty Effect Today s successful businesses recognize

More information

MOBILE PAYMENT IN THE EU: ROLE OF NFC. Gerd Thys Product Manager Clear2Pay Open Test Solutions (OTS) gerd.thys@clear2pay.com

MOBILE PAYMENT IN THE EU: ROLE OF NFC. Gerd Thys Product Manager Clear2Pay Open Test Solutions (OTS) gerd.thys@clear2pay.com MOBILE PAYMENT IN THE EU: ROLE OF NFC Gerd Thys Product Manager Clear2Pay Open Test Solutions (OTS) gerd.thys@clear2pay.com READY FOR MOBILE PAYMENT AT THE PUMP? Germany : One in three willing to pay for

More information

Changing E-Commerce Trends

Changing E-Commerce Trends Changing E-Commerce Trends E-Commerce trends that will change the way of shopping E-commerce came to existence more than two decades ago. It is still going strong. As per emarketer, worldwide e-commerce

More information

EMV and Restaurants What you need to know! November 19, 2014

EMV and Restaurants What you need to know! November 19, 2014 EMV and Restaurants What you need to know! Mike English Executive Director of Product Development Kristi Kuehn Sr. Director, Compliance November 9, 204 Agenda EMV overview Timelines Chip Card Liability

More information

NFC technology user guide. Contactless payment by mobile

NFC technology user guide. Contactless payment by mobile Contactless payment by mobile Table of contents 1. What is contactless payment by mobile? 2. What do I need to shop with my mobile phone? 3. How can I manage a Mobile Card? 4. How do I shop with my mobile

More information