EMV and how it will effect all of us, even E-commerce merchants - GoFuckYourself.com

NETbilling · 08-13-2015, 04:20 PM

Hi All,

We just sent this out in our weekly NETbilling news and thought we would share with everyone. It has been a hot topic of conversation in the financial world as enforcement goes live in the US starting October 1.

What Is EMV And How It Effects All Retail And E-commerce Merchants

------------------------------------------------------------------------------

What Is EMV?

EMV stands for: Europay, MasterCard, Visa. This is the chip based technology now being used by credit card issuing banks into credit and debit cards. It is virtually impossible to duplicate these chip cards. International market migrations to EMV chip have proven that chip cards help reduce counterfeit fraud significantly. Although the magnetic stripe is still on the card itself, the EMV chip is secure and encrypted when used with the chip, rather than "swiping" the card. With security flaws in the current non EMV enabled system, the ability to steal a card or forge a signature is quite common. Technology has even become available on the black market for both reading and writing the magnetic stripes, making cards easy to clone and use without the owner's knowledge.

EMV has been prevalent in Europe and other countries form some time now with great success in retail fraud reduction. EMV adoption in the USA has been slow. Until the major card data breaches over the past couple of years here in the US from Target, Home Depot and others, there was no clear date for implementation in the United States, until recently. As of October 2015, over 500 million EMV compatible credit and debit/bank cards will have been issued to US citizens. Chances are you already have one in your wallet.

How Will EMV Implementation Effect E-commerce Merchants?

The shift to EMV compatible terminals in the USA for retail stores will certainly reduce card present transaction fraud. However, there is little doubt that as a result, online fraud will increase significantly. The payment card networks will shift liability for fraudulent transactions to the party to a transaction that has failed to deploy EMV technology, whether its the the card issuer or the merchant. That is intended to pressure both card issuers and merchants to make the investments necessary to move to chip card technology. This begins October 1, 2015.

In other words, if fraud happens on a credit or debit card and the merchant is not EMV-enabled, they could be liable for that charge and associated fees. So what does this mean for online retailers, adult and mainstream, in the U.S.? With in-store transactions presumably safer as more consumers use EMV-enabled cards, criminals will surely increase their efforts at targeting online retailers. In the E.U. and Australia, online fraud has increased 10 percent since they have implemented EMV.

This is an important reason for online merchants to tighten up their fraud controls using NETbilling's Fraud Defense tools.

Read the full writeup here:

EMV & How It Effects You!

Thanks, Mitch

JFK · 08-13-2015, 05:22 PM

Thanks Mitch,

" The payment card networks will shift liability for fraudulent transactions to the party to a transaction that has failed to deploy EMV technology, whether its the the card issuer or the merchant. " how long before the banks, issuers, charge the card holder ?

MassMarketing · 08-13-2015, 06:42 PM

Sounds like F.U.D.

NETbilling · 08-13-2015, 08:31 PM

Quote:

Originally Posted by JFK

Thanks Mitch,

" The payment card networks will shift liability for fraudulent transactions to the party to a transaction that has failed to deploy EMV technology, whether its the the card issuer or the merchant. " how long before the banks, issuers, charge the card holder ?

Ummmm Never!

Here is a link to the news section on our web site with several helpful merchant tips and articles. Let us know what you think.

https://www.netbilling.com/news

The Porn Nerd · 08-13-2015, 08:51 PM

But won't the increased scrub depress legit transactions as well?

So basically come Oct.1 expect less revenue as banks and 3rd party processers clamp down. Great.

NETbilling · 08-13-2015, 09:19 PM

Quote:

Originally Posted by The Porn Nerd

But won't the increased scrub depress legit transactions as well?

So basically come Oct.1 expect less revenue as banks and 3rd party processers clamp down. Great.

You can look at it that way or just be proactive and be sure your scrub settings are not too wide open to allow more legit fraud get through.

We have great fraud tools a visible for our merchants to use, whether they use them or not.... Is another question. However, 95% of them do.

Mitch

NETbilling · 08-14-2015, 10:20 AM

Quote:

Originally Posted by MassMarketing

Sounds like F.U.D.

What's that?

The Porn Nerd · 08-14-2015, 12:10 PM

Quote:

Originally Posted by NETbilling

You can look at it that way or just be proactive and be sure your scrub settings are not too wide open to allow more legit fraud get through.

Well, that's true, assuming you have any control over fraud protection, scrubs, put through, etc. With most 3rd party processers you are at their mercy when it coms to these issues.

So yeah, I will take the view that come Oct.1 revenue will suffer.

aka123 · 08-14-2015, 12:43 PM

Old news here in Jooroop.

ravo · 08-14-2015, 12:50 PM

Quote:

Originally Posted by NETbilling

In other words, if fraud happens on a credit or debit card and the merchant is not EMV-enabled, they could be liable for that charge and associated fees.

Are you saying that if the merchant *IS* EMV-enabled they WON'T be liable for the fraud? (I somehow doubt that....)

aka123 · 08-14-2015, 12:53 PM

Quote:

Originally Posted by The Porn Nerd

But won't the increased scrub depress legit transactions as well?

So basically come Oct.1 expect less revenue as banks and 3rd party processers clamp down. Great.

As here in Jooroop we have had this for good time, the result is that more transactions gets cancelled, though it will lessen as people gets new cards, etc. But the good news is that many people just try another card if one card fails (if they have more than one card). But around here the whole chargeback thing is next to nothing, as there really isn't such thing unless there is real legitimate reason for that. And the legitimate cases go down with security measures (described in this thread).

C H R I S · 08-14-2015, 12:55 PM

Always great info from Netbilling

plaster · 08-14-2015, 12:56 PM

So this EMV technology provides a small window for face to face merchants to deploy this technology (presumably by a EMV compatible swiper) and if the customer charges back the merchant can say to issuing bank, we are EMV compatible and you are not so eat it?

About right?

And for all of us who are solely in e-commerce we are going to see a 10%+ fraud attempts on average and to tighten our scrub up? Can those of us who simply process cards online get EMV certified and then tell issuing bank to eat it since they are not? Would be nice if that was the case.

NETbilling · 08-14-2015, 02:44 PM

Quote:

Originally Posted by plaster

So this EMV technology provides a small window for face to face merchants to deploy this technology (presumably by a EMV compatible swiper) and if the customer charges back the merchant can say to issuing bank, we are EMV compatible and you are not so eat it?

About right?

And for all of us who are solely in e-commerce we are going to see a 10%+ fraud attempts on average and to tighten our scrub up? Can those of us who simply process cards online get EMV certified and then tell issuing bank to eat it since they are not? Would be nice if that was the case.

Making sure you have good fraud scrubbing in lace is key to not having more fraud as more careers take to the internet.
There is no EMV compatibility for online transactions.

Mitch

The Porn Nerd · 08-14-2015, 03:15 PM

Hopefully this will be similar to when Visa and MC tightened up their rules a couple years ago, making it more difficult to go over limits, etc. I noticed a considerable shift in revenue for a few months there as people were issued new cards and slowly began to re-train their spending habits.

PS: Just in time for the Holiday Season, too! Yay.

xXXtesy10 · 08-14-2015, 04:01 PM

they said bluray could not not be duped either. will wait

RazorSharpe · 08-14-2015, 04:45 PM

Quote:

Originally Posted by NETbilling

Making sure you have good fraud scrubbing in lace is key to not having more fraud as more careers take to the internet.
There is no EMV compatibility for online transactions.

Mitch

I'm guessing you're typing all this on a Mac or iOS device. None of these typos would have happened on a PC ... just saying

NETbilling · 08-15-2015, 12:58 AM

Quote:

Originally Posted by xXXtesy10

they said bluray could not not be duped either. will wait

Well not easily duplicated anyway

NETbilling · 08-15-2015, 12:59 AM

Quote:

Originally Posted by RazorSharpe

I'm guessing you're typing all this on a Mac or iOS device. None of these typos would have happened on a PC ... just saying

Damn Siri!

08-13-2015, 04:20 PM	#1
NETbilling Confirmed User Industry Role: Join Date: Jan 2002 Location: Huntington Beach, CA Posts: 8,582	EMV and how it will effect all of us, even E-commerce merchants Hi All, We just sent this out in our weekly NETbilling news and thought we would share with everyone. It has been a hot topic of conversation in the financial world as enforcement goes live in the US starting October 1. What Is EMV And How It Effects All Retail And E-commerce Merchants ------------------------------------------------------------------------------ What Is EMV? EMV stands for: Europay, MasterCard, Visa. This is the chip based technology now being used by credit card issuing banks into credit and debit cards. It is virtually impossible to duplicate these chip cards. International market migrations to EMV chip have proven that chip cards help reduce counterfeit fraud significantly. Although the magnetic stripe is still on the card itself, the EMV chip is secure and encrypted when used with the chip, rather than "swiping" the card. With security flaws in the current non EMV enabled system, the ability to steal a card or forge a signature is quite common. Technology has even become available on the black market for both reading and writing the magnetic stripes, making cards easy to clone and use without the owner's knowledge. EMV has been prevalent in Europe and other countries form some time now with great success in retail fraud reduction. EMV adoption in the USA has been slow. Until the major card data breaches over the past couple of years here in the US from Target, Home Depot and others, there was no clear date for implementation in the United States, until recently. As of October 2015, over 500 million EMV compatible credit and debit/bank cards will have been issued to US citizens. Chances are you already have one in your wallet. How Will EMV Implementation Effect E-commerce Merchants? The shift to EMV compatible terminals in the USA for retail stores will certainly reduce card present transaction fraud. However, there is little doubt that as a result, online fraud will increase significantly. The payment card networks will shift liability for fraudulent transactions to the party to a transaction that has failed to deploy EMV technology, whether its the the card issuer or the merchant. That is intended to pressure both card issuers and merchants to make the investments necessary to move to chip card technology. This begins October 1, 2015. In other words, if fraud happens on a credit or debit card and the merchant is not EMV-enabled, they could be liable for that charge and associated fees. So what does this mean for online retailers, adult and mainstream, in the U.S.? With in-store transactions presumably safer as more consumers use EMV-enabled cards, criminals will surely increase their efforts at targeting online retailers. In the E.U. and Australia, online fraud has increased 10 percent since they have implemented EMV. This is an important reason for online merchants to tighten up their fraud controls using NETbilling's Fraud Defense tools. Read the full writeup here: EMV & How It Effects You! Thanks, Mitch __________________ Mitch Farber CEO - NETbilling, Inc. Email / Phone: 888-357-8166 / 661-252-2456 Transaction processing & 24/7 call center services with exceptional rates and flexibility, since 1998!

08-13-2015, 05:22 PM	#2
JFK FUBAR the ORIGINATOR Industry Role: Join Date: Jan 2002 Location: FUBARLAND Posts: 67,374	Thanks Mitch, " The payment card networks will shift liability for fraudulent transactions to the party to a transaction that has failed to deploy EMV technology, whether its the the card issuer or the merchant. " how long before the banks, issuers, charge the card holder ? __________________ FUBAR Webmasters - The FUBAR Times - FUBAR Webmasters Mobile - FUBARTV.XXX For promo opps contact jfk at fubarwebmasters dot com

08-13-2015, 06:42 PM	#3
MassMarketing TPMN Industry Role: Join Date: Jun 2014 Location: DE Posts: 597	Sounds like F.U.D. __________________ Weekly Payments - 1400+ BizOp, Financial, Sweeps, Nutra Offers and More! https://www.theperformancemarketingnetwork.com/

08-13-2015, 08:51 PM	#5
The Porn Nerd Living The Dream Industry Role: Join Date: Jun 2009 Location: Inside a Monitor Posts: 19,548	But won't the increased scrub depress legit transactions as well? So basically come Oct.1 expect less revenue as banks and 3rd party processers clamp down. Great. __________________ My Affiliate Programs: Porn Nerd Cash \| Porn Showcase \| Aggressive Gold Over 90 paysites to promote! Now on Teams: peabodymedia

08-14-2015, 12:43 PM	#9
aka123 Confirmed User Industry Role: Join Date: Jul 2014 Location: 64 00 N, 26 00 E Posts: 4,450	Old news here in Jooroop. __________________

08-14-2015, 12:55 PM	#12
C H R I S Too lazy to set a custom title Industry Role: Join Date: Nov 2005 Location: Marina Del Rey Posts: 10,842	Always great info from Netbilling __________________ C H R I S Retired Porn Veteran BH4L

08-14-2015, 12:56 PM	#13
plaster So Fucking Banned Industry Role: Join Date: Apr 2015 Posts: 2,295	So this EMV technology provides a small window for face to face merchants to deploy this technology (presumably by a EMV compatible swiper) and if the customer charges back the merchant can say to issuing bank, we are EMV compatible and you are not so eat it? About right? And for all of us who are solely in e-commerce we are going to see a 10%+ fraud attempts on average and to tighten our scrub up? Can those of us who simply process cards online get EMV certified and then tell issuing bank to eat it since they are not? Would be nice if that was the case.

08-14-2015, 03:15 PM	#15
The Porn Nerd Living The Dream Industry Role: Join Date: Jun 2009 Location: Inside a Monitor Posts: 19,548	Hopefully this will be similar to when Visa and MC tightened up their rules a couple years ago, making it more difficult to go over limits, etc. I noticed a considerable shift in revenue for a few months there as people were issued new cards and slowly began to re-train their spending habits. PS: Just in time for the Holiday Season, too! Yay. __________________ My Affiliate Programs: Porn Nerd Cash \| Porn Showcase \| Aggressive Gold Over 90 paysites to promote! Now on Teams: peabodymedia

08-14-2015, 04:01 PM	#16
xXXtesy10 Fakecoin Investor Industry Role: Join Date: Jul 2012 Location: New Delhi, IN Posts: 7,127	they said bluray could not not be duped either. will wait __________________ WARNING: Stay Away From Marlboroack aka aka Brandon Ackerman https://gfy.com/21169705-post8.html Donny Long is Felon, Stalker, Scammer & Coward http://www.ripoffreport.com/reports/...lon-int-761244