On the 5th November, the US credit card merchants and issuers reached the deadline by which they needed to transition to chip and pin technology. This has been commonplace in most of the world for over a decade, yet the US has surprisingly remained stuck in the past with the old magnetic strip technology being used on cards of all types. However, card issuers are causing trouble which is leading to fraud problems with the new American credit cards.
Chip and Pin Technology Lowers Fraud
The migration from credit cards that store data on a magnetic strip to cards that use chip and pin technology has lowered card
counterfeiting and fraud throughout the world. However, with the US not going full-in on the new technology, the liability for fraud will be determined by who has the lesser technology out of the merchant or the credit card issuer. The reason for this is that the US is not embracing the technology that the rest of the world uses.
EMV stands for Europay, MasterCard and Visa, and is a form of technology that was developed in 1994. Basically, it involves issuing card chips without chip and pin functionality. So whilst US cards will still have a small chip inside of them, when customers go to purchase goods they will still be asked for a signature as opposed to a four digit number.
Card issuers have stated that they don’t want to burden US consumers with having to remember another four digit number, however signatures are pretty much useless and it’s a lot easier to forge a signature than it is to get hold of someone’s chip and pin number. Plus, people pay very little attention to what is scrawled on a receipt – the only time they get looked at is if a customer queries a transaction that they don’t believe they made. It’s outdated technology and there’s no reason for the US to still be using it.
Credit Card Issuers and Consumers are Behind
Even with this knowledge, the credit card issuers have openly stated that the majority of customers won’t have chip and pin enabled cards by the November 5th deadline. Only 4 in 10 MasterCard customers have chip and pin enabled cards. A survey completed by NerdWallet also found that over 40% of Americans aren’t even sure why chip and pin enabled cards are safer: the answer is that they’re a lot harder to counterfeit than cards with a magnetic strip.
The senior vice president of payments and cyber security policy, Doug Johnson, says that when the industry started making the move to EMV, things got a bit confused. The card companies wanted to invest in making cards counterfeit proof without going the whole way and dolling out PIN numbers. However, this has left the US in a kind of middle ground with large numbers of people not understanding what is going on at all.
It will be interesting to see what happens once the deadline passes.
Today in the world there are a large number of law firms.
To be successful they must constantly maintain a connection with the public. All of them in some way have to promote themselves to successfully operate. Today, more and more young people choose to study law and there are millions of them who want to be successful. The secret of success in this work lies in the communication with the public. Every day we see on the Internet millions of pages that offer quality lawyers who will solve all your trials and problems, if you really have any of them.
All those pages have everything that you will need to decide which one to choose. But what if you want to run an independent business in this line of work but you do not know how? In this article you will find million small tips that will help you be successful in your law work.
Law firm branding is most important thing for your Law firm to be recognized in public.If you really want to be successful and you really think that you are quite opinionated and calm, then the only thing you must do is to create excellent communication with the public. In this work public involvement is simply impossible. Do you think that the global law firm were known by itself? That they have never been promoted in some way? Believe me, they do it every day. So if they can why cannot you?
The first thing that you must do is to say your friends what you want to do and they will immediately say their friends. And in this way information will travel. The second thing is that you must create a website and promote yourself like the big companies. On those website you must write what you are offering and don’t forget, your price can’t be too high. If you write that you want big sums of money for your work then you will never progress, if you are a new in this job. In this business you have to learn to look on yourself and put yourself on the first place.
Only in this way you will be able to get to the world stage. Your prices must be acceptable, and only then people will take you to help them. Prices must be lower than prices from other lawyers who know. You must begin with low prices, and then later when you enter into a business then you can change the figures. All you have to do is to leave time to do his job. Because as we all know time is money. But first you have to make a qualitative advertising in order to break the world scene. Only after that you can enjoy the fruit of your effort.
Be a strong speaker and all your hard work will be paid off. Only then you can enjoy like millions of law firms. At every corner we see their advertisement, so why would not we see yours?
USA Technologies, Inc. recently responded to a purported lawsuit against them, which was filed on October 1st 2015 in U.S. District Court for the Eastern District of Pennsylvania. This was raised by a group of people who had purchased stock in the company, and alleges that USA Technologies, Inc. and its executives knowingly made false or misleading statements. Key among these are statements relating to a large amount of small balance accounts which are uncollectible by the company.
This claim asks for unspecified damages, which would include legal costs, and to be certified as a class action.
Who Are USA Technologies, Inc.?
USA Tecnologies, Inc. (USAT) are currently the market leaders in America for M2M (machine to machine – this refers to non-cellphone devices that need to communicate with each other over a wireless network) and cashless payment technologies for the small ticket, self service product market (that is, things like vending machines). It has 87 patents to its name, and partnerships in place with such companies as Visa, Verizon, and Chase Paymentech
As well as the M2M and cashless payment services for self service retail, USAT also has other products relating to PCI compliant payments in other sectors, and is a company that invests strongly in innovation, research and development.
What Was USAT’s Response to the Purported Class Action Lawsuit?
USAT have reported that they intend to ‘vigorously’ defend themselves against the filed lawsuit of Messner vs USA Technologies, Inc.. They claim that the lawsuit is without merit as they did not knowingly mislead their investors on material issues as alleged at any time.
USAT also stated that they remain committed to remaining the leader in their industry, and have shown notable successes in the past 12 months, including a 25% increase in connections to its ePort services in the last fiscal year.
Forward Looking Statements
In their statement, USAT stressed that the responses in their release were of a forward looking nature, and therefore could only be taken as the genuine beliefs of the executives about future performances and market conditions, based on their business’ strategies and the information available to them.
They say that other than things in the release that are provable historical fact, the statement comprises forward looking statements using wording like ‘anticipate’, ‘expect, ‘believe’, ‘intend’ and ‘estimate’, which should only be understood as meaning that these are the beliefs of management, who are of course unable to predict the future with any real accuracy. This is a standard point included in statements relating to lawsuits, as it is important to stress that any response is taken as the understandings and predictions of the defendants at the time of the statement only.
With USA Technologies, Inc. clearly planning to defend strongly against the claims made against them, it will be interesting to see how this case is resolved and whether they are able to hold up against the claims of their investors and their representative.