The rollout of EMV technology has changed the face of fraud for restaurants, retailers and merchants. While card-present fraud will likely decrease as the rollout continues, it will remain a major problem, especially for restaurants and food retailers, despite the new chip technology. In this session, we'll examine...
Consumer and merchant confidence in the payment network requires constant vigilance, investments and cross-industry collaboration. As more consumers shop and pay with connected devices, and commerce increasingly migrates to digital channels, the industry must invest in new standards, technologies and products. One of...
As fraudsters switch focus back to card-not-present (CNP) schemes, research from the Aite Group indicates that it will soon outpace card-present fraud in the U.S. by 3:1. Globally, payments provider ACI Worldwide saw a 30-percent increase in CNP fraud in the first half of 2015. In fact, ACI says that approximately 1.2...
Around the world, rapidly evolving technology, end-user expectations and system complexity are forcing payments stakeholders to reassess their strategies. Recognizing these shifts, the Federal Reserve released Strategies for Improving the U.S. Payment System, an ambitious, multi-year plan that focuses on improving the...
Will the Fed support the use of cryptocurrency and related blockchain technology to help push the movement to faster payments? Experts at ISMG's Fraud and Data Breach Prevention Summit in San Francisco last week considered the possibilities.
The PCI Security Standards Council envisions a single, globally-unified data security standard. Now that the European Card Payment Association is a strategic regional member, that goal is significantly closer, says Jeremy King, the council's international director.
In a lawsuit, two small merchants say they, and many other retailers, are unfairly being forced to pay fraud-related expenses as a result of the EMV liability shift even though they converted to EMV technology by the card brands' deadline. Fraud prevention experts analyze the implications of the case.
The Federal Trade Commission's review of how nine qualified security assessors scrutinize merchants' PCI compliance could be a sign that more federal oversight of payments security is on the way.
Blockchain technology used by bitcoin and other cryptocurrencies offers opportunities for enhanced authentication and ID management, as well as cross-border money remittances, says Ben Knieff of the consultancy Aite. But he contends it's not clear that the technology could play a role in faster payments.
Debit fraud losses in Canada hit an all-time low in 2015, mainly because of the nearly complete migration to EMV and real-time settlement of debit payments, says Mark Sullivan, who heads fraud management for Interac, Canada's payment network. He offers important lessons for the U.S.
To boost security and eliminate the need for passwords, MasterCard plans to later this year roll out a facial biometrics app for authentication of online purchases. But some experts warn that biometrics technology is not fool-proof and should only be deployed as part of a layered authentication approach.
The PCI Security Standards Council will soon release an update to its PCI Data Security Standard, requiring the use of multifactor authentication for administrators who have access to card data networks. In an interview, the council's Troy Leach explains the new requirements and compliance expectations.
By spring, banks and credit unions across the U.S. are expected to start rolling out "card-free" ATMs, offering transactions that experts say will eliminate fraud losses linked to skimming, and at the same time open new doors for mobile payments.
Mobile is eating the world, and its convenience factor is driving more people to access services from a mobile device. Mobile transactions have increased over 200% in the last two years, with billions of dollars of commercial transactions being enacted on mobile devices. This has not gone unnoticed by...
Landry's Inc. now reveals the broad scope of point-of-service malware attacks against its restaurants and other properties dating back to 2014 and 2015. Experts discuss factors that could have contributed to the breaches.
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