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Visa: EMV Cuts Card-Present Counterfeit Fraud By 80 Pct

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Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. million merchants now accept chip cards, which is an increase of 692 percent since the beginning of EMV migration, and almost 70 percent of storefronts in the United States now accept chip cards.

Fraud 251
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Marriott Takes In $920M Via Credit Card Deals Amid COVID-19

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has taken in $920 million in cash via arrangements with co-branded credit card firms. The hotel company is said to be one of the biggest co-brand partners of American Express. Approximately 75 percent of hotel rooms are vacant in just the United States, and seven in 10 lodging workers have been put on leave or laid off.

Cards 146
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How Retailers Are Cashing In On A US Coin Shortage

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As the United States experiences a coin shortage due to the pandemic, some brick-and-mortar retailers are forcing consumers to tell cashiers to “keep the change.”. Customers can either round up their bills to the nearest dollar and give the excess to charity or get their change stored on loyalty cards. Similarly, southeast U.S.

Retail 290
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Tesco To Refocus Business After $357M China Sale

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The stake’s disposal is said to let Tesco keep simplifying and focus on core operations for the business per the company, which reportedly noted that the proceeds would go toward general corporate purposes. According to the report, the departure from Asia could be one of the final actions of Tesco CEO Dave Lewis.

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OAK + FORT: Flexible-Payment Plans Boost Luxury Purchases

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Merchants are optimizing their eCommerce operations, but this is posing challenges for some, including luxury merchants. These retailers are accustomed to engaging with their customers in brick-and-mortar stores and building long-lasting relationships that lead to brand loyalty. billion this year — almost double last year’s total.

Payments 279
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Phillips 66 Partners With WEX For Exclusive Multi-Year Private Label Extension 

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FinTech service provider WEX signed on with Phillips 66 to handle exclusive private label and universal fleet card services, Verdict reported on Wednesday (Aug. Under the multi-year deal extension, WEX will continue to be the exclusive provider of fleet cards and offer payment-related services to Phillips 66 customers.

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Mastercard Sees Cross-Border Volumes Up 19 Percent

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As had been seen with Visa on Wednesday (July 25), the company also took reserves tied to litigation ongoing in the United States and the U.K. The United States showed 9 percent overall growth, and that rate was handily outpaced by the 16 percent seen in the rest of the world. The tally of $3.7 trillion.