Menu
Posted: Jan 6, 2017
Comments: 0
Author: Tom Davis

CSCU's Tom Davis self grades his 2016 predictions. What grades would you give him?

At the beginning of 2016, I made several predictions about what would be happening in payments and how they would impact credit unions. With 2016 now in the rear view mirror, it is time to take a look back at what happened in 2016 and grade my predictions – the original article can be found here.

Mobile wallets

My Prediction: “MasterCard Digital Enablement Service (MDES) and Visa Digital Enablement Program (VDEP) have streamlined credit unions’ enrollment in mobile wallets.  In 2016, we expect as more mobile wallets become available from smartphone makers such as LG and HTC, this process will become even more efficient” “

How I Did: ‘B’ I correctly called the role that MDES and VDEP had in enabling credit unions to enroll in the “Pays” – by the end of the year more than half are enrolled. But I missed the mark on LG and HTC releasing their pays.

Read more
Posted: Dec 2, 2016
Comments: 0
Author: Bill Lehman

Expensive and time-consuming initiative makes it tough for gasoline retailers to keep up.

Initially, the liability shift associated with upgrading the card readers at gas pumps, known as Automated Fuel Dispensers (AFDs), was set to two years after in-store POS terminals, due to the complexities of retrofitting or replacing AFDs. But, even those extra two years are proving insufficient for many gasoline retailers. In response to the delays, Visa and MasterCard are postponing their Oct. 1, 2017, EMV liability shift for U.S. AFDs until Oct. 1, 2020.

Read more
Posted: Oct 12, 2016
Categories: EMV, Bitcoin/Blockchain
Comments: 0
Author: Paul Castner

Recent articles update CU’s on EMV and the future of blockchain

With the future of blockchain of extreme interest to the CU industry, CSCU president, Bob Hackney, took time out to talk to CoinDesk fintech writer, Bailey Reutzel. The article points out that the advent of distributed ledger technology has brought several CUSOs together with more than 50 credit unions on the CULedger initiative. Hackney notes that these steps represent a “first” for CSCU and many of its peers.  Please click on the following link to read about the impact that blockchain will have on the CU industry:

http://www.coindesk.com/credit-unions-blockchain-competition/ 

Also, it is now the one-year anniversary of the EMV Chip Card liability shift which also makes it a good time to step back and take an objective look at what has gone well with EMV implementation and what has not.  CSCU’s Director of Payments Strategy, Lou Grilli, provides his take in recent interviews with CUToday.info editor, Ray Birch.  You will want to take a few minutes to read the following articles:

http://www.cutoday.info/THE-feature/In-EMV-Migration-Who-Gets-An-A

http://www.cutoday.info/THE-boost/Why-Fraud-Is-Increasing-On-This-Payments-Form
Read more
Posted: Oct 5, 2016
Comments: 0
Author: Lou Grilli

The Facts and Myths That Every Credit Union Should Know

Another liability shift related to the U.S. adoption of EMV is facing banks and credit unions. As of October 21, 2016, ATM acquirers, whether they are banks, credit unions, third-party or ISO-owned, will bear the liability for fraud committed at ATMs that have not been EMV-upgraded (that is, ATMs not capable of reading and processing chip cards) and a MasterCard-branded card is used. The same concept of shifting liability to brick and mortar merchants who have not upgraded their point of sale terminals took place last October.
Read more
Posted: Aug 16, 2016
Comments: 0
Author: Lou Grilli

Not true! Chip cards are solving the problem they were intended to solve.

A number of leading news organizations recently reported that a security flaw in chip cards has been discovered, questioning the security benefits offered by EMV technology. One article suggests there are ways to completely undo the security the chip-enabled cards provide. The articles pointed to research presented by two people from NCR, a payments technology leader. Their research was presented at Black Hat, a widely attended hackers convention where research, security flaws, and hacks are presented to the public and to fellow security experts with the goal of closing security gaps before they can be exploited.

Read more
RSS
123456

search

Featured Stories