March 16, 2015


Comments

 
 
 
  • Well done explanation of resolution options for an expensive problem that can be solved, if the CU chooses to, rather than wait for a regulatory mandate which would only add stress and increase costs with spike in demand for resources to replace cards. Thanks to these Leader CUs for sharing.
    Carolyn Warden, CCUE
     
     
     
  • Thanks, Carolyn, we appreciate your comments.
    Marc Rapport
  • Helpful article. Chip and PIN does provide a higher degree of security and makes sense if your PIN fraud is high. However if you choose this path (instead of chip and signature) and are in a growth agreement with either MC or Visa, forecast the financial impact. Many credit unions are just now discovering the significant revenue hit they will experience from lost interchange (transactions moving from sig to PIN rails), AND the simultaneous shortfall of missing growth agreement targets established with MC/Visa. PIN networks, processors and merchants love chip and PIN. It might make sense for some credit unions to go this route, but do the analysis (on both fraud experience and interchange loss) as part of your due diligence.
    Anonymous
     
     
     
  • Thanks for your observations.
    Marc Rapport
  • Very Helpful
    Milt Jackson
     
     
     
  • Thank you for your kind observation.
    Marc Rapport
  • Ditto
    Anonymous
  • Ditto 2x
    Anonymous
 
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