Issues have come up with some Costco members not getting their new Costco Visa credit card in the mail or some seeing delays in getting their new cards activated.
MasterCard says that cardholders can expect checkout speeds closer to the “familiar magnetic stripe transactions with the added security of EMV.”
Visa today announced the launch of “Quick Chip for EMV,” a technology enhancement that should cut the time consumers must leave their new chip cards in machines to about two seconds or less.
Retail brokerage giant Fidelity Investments said today it has partnered with U.S. Bank and Visa in a program that will offer Visa-branded credit cards to U.S. consumers, including Fidelity’s 24 million customers.
Banks give Apple a 0.15 percent cut of each credit-card transaction and half a cent for each debit card purchase when shoppers use Apple Pay. Not so for Android Pay.
Financial institutions which issued MasterCard credit cards affected by the 2013 breach say they lost about $160 million.
Best Buy was a big promoter of the not-yet-released CurrentC, a competing mobile payment service supported by Walmart, 7-Eleven, CVS drug stores and other big retailers.
The switch to the more advanced “chip & signature” system isn’t advanced enough to thwart cyberthieves, said Mike Cook, Walmart’s assistant treasurer and a senior vice president.
Costco, the nation’s 2nd-largest retailer, will start accepting Visa — instead of American Express — at its U.S. stores on April 1, 2016.
Visa is now offering something it calls “Mobile Location Confirmation” which effectively tracks a card customer’s whereabouts in real-time.