73SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Art Harper Dr. Arthur (Art) Harper is the director of card payment solutions at PSCU. Leading the EMV initiative at the company that is certified and was the first to issue debit … Web: www.pscu.com Details To say there was a great deal of buildup surrounding last fall’s EMV liability shift deadline would be an understatement. Since then, the buzz has died down a bit, but talk is now turning to the next two stages: ATM and Automatic Fuel Dispenser (gas pump) terminals. Automatic Fuel Dispensers must be EMV compliant by October 2017, and ATMs need to be EMV-certified before the October 2016 deadline.What are the considerations and challenges surrounding these stages? Let’s start with the most talked about one: Automatic Fuel Dispensers:Why did gas pump terminals get an extension in the EMV process? Issuers know that when a counterfeit card is created, the gas pump is often times the first stop for fraudsters to ensure they can access funds using the card. Once they have a good transaction on the counterfeit card, the counterfeiter will then begin using the bogus card multiple times until the fraud is detected and the account is closed. While EMV has certainly proven effective in deterring card present fraud, it is unfortunately more difficult to retrofit gas pumps to EMV standards than point-of-sale terminals.To be EMV-ready, fuel merchants will need to update the current wiring connections at the gas pumps. Today, gas pumps are wired with a standard twisted pair (two-wire) connection. This type of wiring supports low bandwidth communications that will be too slow for EMV transactions. Therefore, the fuel merchants will need to upgrade the wiring to Ethernet connectivity for EMV. The Ethernet connectivity will provide the Cat 5/6 wiring necessary to process EMV transactions.Upgraded EMV gas pumps will have to be re-certified by state officials to verify that they are dispensing and charging correctly, a step that adds another layer of effort in the process. When a gas station replaces the payment terminal, it also needs to re-certify the entire pump. The process of completing the rewiring and recertification tasks will be expensive and time-consuming, which is why the automatic fuel dispensers landed on the back end of the EMV liability shift timeline.So what can issuers do in the meantime? First, ensure your card programs have been upgraded to EMV. Second, if you have not completed the ATM upgrade process to EMV, you will need to work on updating any hardware and software so your ATMs meet EMV compliance this year. Lastly, continue education efforts around the EMV liability shift timelines and process.Many consumers may believe the EMV process is over while in actuality we still have another 18 months or so to go. Education on the status of EMV merchants, timelines and, most importantly, the use of EMV will be vital for processing and chargeback functions.Meanwhile, until fuel dispensers are EMV-certified, merchants and consumers should be on the lookout for any skimming devices that may be attached to a gas pump. We have seen a spike in counterfeit transactions at ATMs and expect to see similar activity at the gas pumps. Education will help cardholders know what to be on the lookout for and understand the timelines for EMV conversion.For issuers frustrated with the process, it is important to note that most of the feedback PSCU has received surrounding EMV has been favorable. One of our member-owner credit unions reports to have saved over $1 million since implementing/issuing EMV credit cards in 2011. While the process may seem tedious, EMV continues to prove itself as one of the most powerful tools in our fraud prevention arsenal today.
The central bank cut its benchmark interest rate for the fourth time this year to 4 percent last week to bolster the economy and reasserted its commitment to a bond-buying program worth US$40 billion to rescue the economy and reduce the government’s debt burden.Meanwhile, the government has allocated Rp 695.2 trillion ($47.35 billion) in stimulus to bolster the economy, and expects the budget deficit to reach 6.34 percent this year. It also expects the economy to shrink 0.4 percent this year under a worst-case scenario or grow 1 percent in a best-case scenario, with the economy tipped to contract 3.8 percent in the second quarter.University of Indonesia economist Chatib Basri said the government would need to bolster cash transfers to lower-middle income citizens to revive consumer demand and spending, and called on the government to step up its fiscal response to jump start the economy.“The government needs to bolster consumer demand by providing cash transfers, which in turn will boost the supply side of the economy,” said Chatib.Private spending contributes more than half of Indonesia’s gross domestic product (GDP), followed by investment and exports.Institute for Development of Economics and Finance (Indef) economist Aviliani also pushed the government on Friday to move more quickly in disbursing stimulus funds and boosting social aid expenditure to stimulate demand.“With the Indonesian economy mainly driven by private consumption and domestic demand, we expect the COVID-19 shock on domestic employment and income levels to cause a significant drag on the economy over 2020,” researchers at Fitch Solutions wrote in a note, expecting the economy to shrink 1.3 percent this year given the continued surge in virus cases.Fitch expects a low inflation environment and stable rupiah outlook to provide room for the central bank to focus on supporting the economy, and expects the central bank to cut its benchmark policy rate to 3.75 percent by the end of the year.Topics : Bank Indonesia (BI) has forecast a U-shaped recovery for the country’s economy as the coronavirus pandemic took a greater toll than previously expected, threatening to cause a deep contraction in the second quarter.Indonesia‘s economy could shrink between 4 and 4.8 percent in this year’s second quarter, BI senior deputy governor Destry Damayanti said on Monday, adding that the recovery would be slower than expected as COVID-19 cases continue to rise around the country.During the early period of the outbreak in Indonesia, the central bank and the government said they expected the economy to see a V-shaped recovery. The central bank predicts “a U-shaped recovery because the number of coronavirus cases continues to increase and has not reached its peak,” Destry said during an online discussion, adding that the reopening of the economy would make it harder to keep the number of cases contained.Indonesia’s recorded number of COVID-19 cases surpassed China’s official tally on Saturday before the country logged its highest daily death toll on Sunday.Destry said fears of a prolonged global economic downturn had also put pressure on emerging market assets, hitting the rupiah exchange rate as investors steered away from high-risk assets in favor of safe-haven assets.The rupiah depreciated 0.78 percent to Rp 14,817 against the US dollar as of 12:00 p.m. Jakarta time on Monday, losing around 2.5 percent of its value since the beginning of last week.
Lorraine Gridley, age 73 of Napoleon, Indiana passed away on Thursday, November 30, 2017 at Aspen Place Health Campus in Greensburg, IN. The daughter of Perry and Anna Lee (Collins) Sloane was born on January 18, 1944 in Kentucky.Lorraine retired from Hill-Rom and before that had worked for both Romweber and Union Furniture. She was a member at the Solid Rock Bible Fellowship in Napoleon and Little Memory Church in Sunman. Lorraine had a strong faith and loved her church. She enjoyed going to visit people and especially spending time with her sisters. She also really liked quilting and has quilted many different things over the years. Lorraine was a very giving person and all her neighbors loved having her around. She will be truly missed by many.She is survived by her sons John Anderson and Andy Gridley; daughter, Valarie Anderson; step-sons Scott, Allen and Robert Jr. Gridley; step-daughters, Susan Kirkham, and Runita Thomas; sisters, Bernelda Crowell, Ophelia Profitt, Elma Grossman and Henrietta Franklin; and brothers Harold & Lowell Sloan.In addition to her parents she was preceded in death by her husband Robert Gridley and her brothers, Elmer Sloan Sr. and James Sloan.Visitation will be Monday from 4-8pm with Funeral Services at 11:00AM on Tuesday, December 5, 2017 all at Meyers Funeral Home in Batesville, IN. Dennis Werner officiating with burial to follow at Little Memory Church Cemetery in Sunman, IN.Memorials may be given to The Solid Rock Fellowship c/o the funeral home. Online condolences www.meyersfuneralhomes.com.
John O’Callaghan – BallyporeenRobbie Kiely – Carbery RangersAlan Campbell – Moyle RoversAlan Maloney – Rockwell RoversMartin Dunne – Moyle RoversJosh Keane – Golden KilfeaclePeter Acheson (Capt.) – Moyle RoversBrian Fox – Éire Óg AnnacartyKevin O’Halloran – PortroeConor Sweeney – BallyporeenPhilip Austin -BorrisokaneTipp FM will have live coverage of the match from shortly before 2 o’clock on Sunday afternoon. This is the side that chosen by Liam Kearns and his selectors:Evan Comerford – Kilsheelan KilcashColm O’Shaughnessy – ArdfinnanJimmy Feehan – KillenauleCiarán McDonald – Aherlow