But transaction-processing networks, while participating in mobile wallet and mobile payment initiatives, also are taking steps to increase the value of traditional credit card and debit card transactions as well, in ways that lower retailer cost of using the traditional mechanisms. If that seems to you like playing both offense and defense, you would be right.
Separately, Visa is encouraging U.S. retailers to shift to retail checkout systems that let consumers pay using their mobile phones. Visa says it will let merchants that switch to credit-card readers supporting EMV technology to forego costly annual security certifications.
EMV is an open standards set of specifications for smart card payments and acceptance devices. The EMV specifications were developed to define a set of requirements to ensure interoperability between chip-based payment cards and terminals. EMV actually could extend the use of card-based payments, as well as play a role in mobile payment capabilities as well.
Starting in 2015, it will also stop requiring banks to reimburse most merchants for some types of credit-card fraud, which can be prevented by using EMV systems, Visa says. Both moves will save retailers money on their transaction support operations. Visa ncourages retailers to adopt EMV
No comments:
Post a Comment