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Head Of European Payments Council Says Mag-Stripe Ban Possible

CardLine Global | Wednesday, June 24, 2009

The European Payments Council, the association of banks charged with leading the rollout of a single euro payments area, could decide by 2011 to advise members to no longer issue or accept payment cards with fraud-prone magnetic stripes, says council Chairman Gerard Hartsink.

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In the May-June issue we examine value-added products and services. What's the right mix of value-added offerings, and what's new in value-added opportunities? The issue also focuses on the EMV conversion's lack of revenue-enhancing possibilities, the shift toward providing full point-of-sale systems, predictions of merchants' impatience with the fixed acquirer network fee and the threat that comes with PayPal's e-signature deal.

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