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'Visa' Articles

Visa Dropping Signature Requirement for Chip Cards and Apple Pay Starting in April

Visa today announced it will eliminate its signature requirement for EMV payments beginning April 2018 in the United States and Canada. The change will apply to both chip-and-signature credit and debit cards, and contactless payment solutions like Apple Pay when linked to a Visa credit or debit card. The change is designed to allow for a more consistent, streamlined, and quicker checkout experience for both merchants and cardholders. For years, customers have been required to sign the receipt when making a purchase to verify they own the debit or credit card they are attempting to use. A cashier is supposed to match the signature on the receipt against the one on the back of the card, but in reality, this process is often skipped nowadays. Currently, even when using Apple Pay, a signature can be required on occasion for purchases over $25 made with a Visa card in the United States. But with EMV technology and other modern safeguards, Visa is now moving to fully eliminate this requirement, in line with Mastercard, American Express, and Discover. The signature requirement is already much less common in Canada, where customers insert their chip card into a payment terminal and verify ownership by entering a four-digit PIN. You also can't use contactless payments for transactions over $100 in Canada (update: excluding American Express — thanks Gary Ng!) Visa says its partners have deployed EMV-chip enabled readers at more than 2.5 million locations around the world. Less than two years since the technology launched in the United States, counterfeit fraud

Apple and Visa Sued Over Digital Payment and User Authentication Technology Used in Apple Pay

Apple and Visa have been sued by a small company based in Boston this weekend, which claims that Apple Pay violates 13 patents that it holds related to digital payment systems and user authentication technology. The company behind the lawsuit, Universal Secure Registry, filed the complaint in a Federal District Court in Delaware on Sunday (via The New York Times). According to the filing, USR chief executive Kenneth Weiss "was the first in the space, and the secure payment technology that he developed goes right to the core of Apple Pay." Specifically, Weiss' company is claiming that the 13 patents include details on authentication systems embedded in smartphones, biometric ID confirmation through fingerprint scanning, and the generation of secure, one-time-use tokens in financial transactions. According to Weiss, he had "extensive meetings" with Visa in 2010 that centered around working together to introduce a mobile payments system into smartphones, which allegedly lead to Visa signing a 10-year nondisclosure agreement with Weiss and his company to be able to use the technology. Weiss said that Visa eventually "dropped further communication without securing a license," and that any inquiries he wrote to Apple in asking the Cupertino company to license his technology were never answered. Then, Visa began working with Apple on a partnership that eventually lead to the debut of Apple Pay in 2014, which the lawsuit claims to have been built with the "willful infringement" of USR's patents. Weiss is now seeking damages in relation to Apple Pay and Visa's alleged

Visa and Payments Startup 'Current' Launch Debit Card for Kids That Ties to Parental Control App

Visa has partnered with payments startup Current and today the companies are launching a new "smart debit card" and iOS app that aim to give kids and parents more autonomy and security when it comes to doling out spending money (via TechCrunch). The new Current card functions like any other Visa debit card, allowing teens and younger kids to spend money without needing cash, but comes connected with a parentally-controlled iOS or Android smartphone app. The Current iOS app [Direct Link] has two sides, for both parents and their kids. Parents can set up specific chores within the app, include a description, and set an amount of money that will be funneled into the kid's Current card, through the parent's connected bank account, upon completion. Automated allowances can also be set to recur on a weekly or monthly basis, and parents can block spending from specific businesses like casinos and bars, as well as set spending limits. The company said that its biggest inspiration was helping to streamline the weekly allowance hassle that parents have to deal with when their kids require money, which has traditionally been given in cash. With Current, you'll get your own debit card and an app with three smart wallets for spending, saving, and giving. Asking parents for money can be awkward, they don't always have cash on them and you have to go through this every week. Current automates your allowance so it arrives in your spending account when you need it. If you get stuck somewhere and you're out of money, you can get more from your parents instantly through Current.

Apple Pay Expanding to France, Hong Kong, and Switzerland

Apple confirmed during its WWDC 2016 keynote that Apple Pay will be expanding to France, Hong Kong, and Switzerland over the next few months in partnership with Visa, MasterCard, and American Express. Visa and MasterCard will be supported in all three countries, while American Express will also be available in Hong Kong. The specific credit, debit, and prepaid cards that can be used in each country vary depending on the participating issuers listed below. France Participating banks and issuers in France at launch will include Banque Populaire, Boon, Caisse Epargne, Carrefour Banque, Orange, and Ticket Restaurant. Apple Pay will be accepted at many retailers in France, including Apple, Bocage, Boulanger, Cojean, Dior, Le Bon Marché, Louis Vuitton, Orange, Pret a Manger, Sephora, and elsewhere contactless payments are accepted. Hong Kong Participating banks and issuers in Hong Kong at launch will include the Bank of East Asia (BEA), Bank of China (Hong Kong), DBS Bank (Hong Kong), Hang Seng Bank, HSBC, and Standard Chartered. Apple Pay retailers in Hong Kong include 7-Eleven, Apple, Colourmix, KFC, Lane Crawford, Mannings, McDonald's, Pacific Coffee, Pizza Hut, Sasa, Senryo, Starbucks, ThreeSixty, and elsewhere contactless payments are accepted. Switzerland Participating banks and prepaid issuers in Switzerland at launch will include Bonus Card, Cornèr Bank (Cornèrcard), and Swiss Bankers. Apple Pay will be accepted at many retailers in Switzerland, including ALDI SUISSE, Apple, Avec, Hublot, K Kiosk, Lidl, Louis Vuitton, Mobilezone, Press & Books,

MasterCard Offers Apple Pay Users Free Public Transit in London Starting Today

In an effort to increase adoption of contactless payments, major credit card issuer MasterCard has launched a limited time "Fare Free Mondays" promotion, offering free public transit to Apple Pay users in London on Mondays between November 23 and December 14, 2015. Starting today, and on the next three Mondays, MasterCard customers using Apple Pay to touch in and out on London's public transit network will have up to £27.90 in daily fares refunded by MasterCard. The promotion is valid for travel on the Tube, buses, tram, DLR, London Overground and most National Rail services in London. Mark Barnett, president of MasterCard UK&I:“The move by TfL last year to accept contactless cards and devices on London Underground has been a phenomenal catalyst to the growth in contactless payments across the UK. Now that Apple Pay has arrived we want to encourage travellers on London’s transport network to try it out and give them another convenient option to pay for their travel. What better way to do this, than to offer MasterCard customers using Apple Pay the chance to travel for free over the next four consecutive Mondays.”MasterCard competitor Visa today also unveiled a new Apple Pay "Ready" campaign in Europe, including two TV ads from agency Saatchi & Saatchi that highlight how fast, easy and reliable using a Visa card in Apple Pay is in everyday situations such as paying to use the Tube or in a cafe. Apple Pay expanded to the U.K. in July and is accepted at more than 250,000 locations across England, Scotland, Wales and Northern Ireland. The iPhone-based mobile

Visa to Launch Tokenization in Europe in Mid-April for Mobile Payments

Visa announced on Tuesday that it will be rolling out tokenization in Europe, an essential technology that allows for secure and convenient contactless payments using various technologies (via The Next Web). The tokenization service will be available to financial institutions in mid-April and helps pave the way for the launch of Apple Pay in Europe. “This is an exciting time to be in the payment industry. We believe that 2015 will be the year that mobile payments will be in the hands of consumers across Europe," said Sandra Alzetta, Executive Director, Core Products for Visa Europe. "Tokenisation is one of the most important technologies to emerge in digital payments and has the potential to start a whole new chapter in the kinds of products that are developed."Visa, MasterCard and American Express were among the credit card companies that launched tokenization in the United States ahead of the launch of Apple Pay last October. The technology replaces your credit card information with a randomized series of numbers during payment authorization to secure your account details when you tap your smartphone on a contactless payment terminal. Apple Pay remains limited to the United States, although an international expansion could start with Canada as early as March. The NFC-based mobile payments service requires an iPhone 6 or iPhone 6 Plus, and will also be compatible with the iPhone 5s, iPhone 5c and iPhone 5 when paired with an Apple Watch.