News & Analysis as of

EMV

Ballard Spahr LLP

CFPB flags new issues in latest credit card review

Ballard Spahr LLP on

The CFPB has issued another request for information about the credit card market that identifies significant new issues of CFPB interest. The request is intended to inform the CFPB’s biennial review of the credit card market...more

Jackson Walker

First Choice Federal Credit Union vs. Wendy’s : Will Plaintiff’s EMV Arguments Get A Frosty Reception?

Jackson Walker on

Wendy’s suffered a data breach in the fall of 2015 that it recently reported affected one particular point of sale system at fewer than 300 restaurants. Wendy’s has already been sued as a result of the incident, including a...more

Poyner Spruill LLP

The EMV Liability Shift - What’s Next?

Poyner Spruill LLP on

Over the past several years, the major credit card networks (VISA and MASTERCARD) have begun the process of converting credit card usage in the United States to the EMV standard. The EMV standard is a method of preventing...more

Bilzin Sumberg

A Shift in Liability for Credit Card Fraud

Bilzin Sumberg on

For too long, “swiping” a credit card has had at least one meaning too many. There was “swiping” as it pertains to running the magnetic strip of your credit card inside the groove of a small payment terminal to make an...more

King & Spalding

Risky Business – Five Facts You Should Know About the EMV Liability Shift

King & Spalding on

On October 1, 2015 the major payment card companies instituted the EMV Liability Shift in an effort to incentivize card issuers and merchants to migrate to using payment cards with embedded chips (“chip cards”) according to...more

Foster Garvey PC

Credit Card Fraud Liability Shift is Here

Foster Garvey PC on

Most credit and debit cards in the U.S., and the point of sale terminals and ATMs that read them, still use “magnetic stripe” technology. Magnetic stripes are obsolete and relatively insecure, allowing fraudulent practices...more

McGuireWoods LLP

Retail Industry EMV Compliance Deadline Arrives Today - Credit Card Fraud Liability Shifts

McGuireWoods LLP on

Starting today, October 1, 2015, a substantial portion of the liability associated with in-store fraudulent credit card purchases shifts from credit card issuers, such as banks or credit unions, to retail merchants. Credit...more

Davis Wright Tremaine LLP

Chip-and-PIN (EMV) Credit Card Liability Shift is Oct. 1: Are You Ready?

October 1 is right around the corner. Merchants, retailers, hotels and restaurants: are you ready for what’s in your customers’ wallets? Starting next month, the payment card industry’s transition to chip-and-PIN (also known...more

Jackson Walker

If Your Business Takes Credit Cards, Are You Ready for October 1, 2015?

Jackson Walker on

October 1, 2015, is the date that many payment networks, including Visa, American Express, Discover, and MasterCard, have set for a counterfeit fraud liability shift. Although that date is just around the corner, many small...more

McGuireWoods LLP

Target and Visa Announce $67 Million Settlement

McGuireWoods LLP on

Last winter, following a well-publicized data breach, a group of financial institutions sued Target, arguing that Target should be held responsible for the damages that they had experienced as a result of the data breach...more

BakerHostetler

EMV Liability Shift Update – What Liability Actually Shifts?

BakerHostetler on

With the October 1, 2015 liability shift deadline looming, merchants who have not yet made the change continue to evaluate the cost of accepting EMV cards versus the liability that will shift from the issuer to the merchant...more

McGuireWoods LLP

Credit Card Fraud Liability Shift Looms for Retail Industry

McGuireWoods LLP on

On October 1, 2015, a substantial portion of the liability associated with in-store fraudulent credit card purchases will shift from credit card issuers, such as banks or credit unions, to retail merchants. Credit card...more

Arnall Golden Gregory LLP

Legal Issues Business Leaders Need to Know in 2015: Top 10 Checklist

A compilation of time-sensitive and trending legal and regulatory issues that general counsels and business leaders should be aware of in 2015. Employers Should be Aware of Multigenerational Workforce Risk - For...more

BakerHostetler

Explaining the Implications for Merchants of EMV and the Liability Shift

BakerHostetler on

The EMV liability shift is coming. Sounds ominous, but what does it really mean? And how can retailers and merchants determine the potential impact of the shift on their business? Like many issues in the payment card...more

Cozen O'Connor

EMV Credit Cards Are Coming, But Consumers Must Stay Vigilant

Cozen O'Connor on

Major credit card companies, including Visa, MasterCard, Discover, and American Express, have announced plans to switch to EMV cards in the United States over the course of 2015. ...more

Davis Wright Tremaine LLP

Chip-and-PIN (EMV) Transition: Transition Hampered …

A recent report from the Congressional Research Service (CRS) highlighted a number of factors that are delaying the transition to chip-and-PIN (EMV) cards before the credit card network imposed deadline of Oct. 1, 2015. The...more

Goulston & Storrs PC

Apple Pay and Google Wallet: Mobile Payment Going Mainstream

Goulston & Storrs PC on

When Apple announced on September 9, 2014 that the iPhone 6 would be equipped with a mobile payment system appropriately called Apple Pay, the entire mobile payment universe woke up. Although competitors had existed for...more

Proskauer - Privacy & Cybersecurity

A Primer on EMV Technology for Merchants

With the new year just around the corner, retailers should make a resolution to learn more about EMV technology. That’s because 2015 is slated to be the year EMV technology makes significant inroads in the United States, and...more

Davis Wright Tremaine LLP

Chip-and-PIN is Coming…To the US Government

Last Friday, in the wake of numerous data breaches, President Obama signed a new Executive Order that will change how federal agencies use payment cards and allow access to certain government portals. Those changes include...more

BakerHostetler

2012 Payments Systems Year-in-Review

BakerHostetler on

The interchange fee and the potential of mobile payments were the dominant payment system issues in 2012. From a landmark antitrust settlement to seemingly daily announcements of a new prepaid or mobile payment product, there...more

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