Payment Security
EMVCo and PCI SSC Combine Expertise on 3-D Secure 2.0
Technical body EMVCo and PCI Security Standards Council have announced that they are collaborating to support the upcoming launch of 3-D Secure 2.0 (3DS 2.0). The announcement was made at the PCI Security Standards Council Community Meeting of global cyber security experts in Las Vegas, U.S, last week (20-22 September).
On first anniversary, US becomes Visa's largest chip card market
A year after the official launch of chip payment technology in the US, Visa is claiming steady progress, with the country already its largest EMV card market and fraud rates falling sharply.
Hackers hit Oracle Micros POS unit
Oracle is warning users of its Micros POS payments technology of a data breach which saw malicious code installed on its systems.
Machine learning fraud detection systems could save card issuers and banks $12 billion annually
Adaptive behavioural analytics software reduces 'genuine transactions declined' by over 70% and incidence of undetected fraud by 25%.
Central banks review wholesale payments security
In the wake of the $81 million Bangladesh Bank hack, the Committee on Payments and Market Infrastructures (CPMI) has set up a task force to look into the security of wholesale payments that involve financial institutions.
Hackers hit Oracle Micros POS unit
Oracle is warning users of its Micros POS payments technology of a data breach which saw malicious code installed on its systems.
Indian digital payments market to hit $500bn by 2020 - Google
India is set for a digital payments revolution, with the value of transactions set to hit US$500 billion by 2020, ten times its current level, according to research from Google and the Boston Consulting Group (BCG).
Sage shares slip on breach; HEI hotels admits POS infection
More bad news from the online crime front over the weekend, as UK business software group Sage reports a breach that may have compromised the bank account details of employees at 230 UK companies, and HEI Hotels group in the US admits to a POS malware infection that filched payment card details from tens of thousands of customer transactions.
American Express updates fraud rules to limit EMV chargebacks
In an effort to promote further adoption of EMV in the U.S., American Express (AXP) today announced changes to its EMV chargeback policy to help merchants limit their fraud costs as they upgrade their point-of-sale systems.
MasterCard Sees Continued Momentum in U.S. EMV Adoption
March 31, 2016 - Americans are quickly embracing EMV chip cards, just six months after the latest milestone in the migration timeline. While consumers increasingly dip their cards to pay in-store, progress has been made by both card issuers and merchants.
US Payments Forum updates minimum requirements for US EMV chip deployment
As U.S. issuers, merchants, acquirers and processors continue their migrations to EMV chip technology for more secure payments, many stakeholders may ask: "What is the least complex way to deploy chip for my organization?"
Credit card fraud ring bust sees 105 arrests
Cops in Europe and Malaysia have arrested 105 people accused of participation in a massive organised criminal enterprise that made counterfeit credit cards that were used to buy high-value goods worth millions of euros.
EMVCo Updates Payment Tokenisation Specification to Introduce 'Payment Account Reference'
March 29, 2016 - Global technical body EMVCo has released a bulletin updating the EMV® Payment Tokenisation Specification – Technical Framework to provide the payment community with a global, consistent framework to implement 'Payment Account Reference' (PAR). To be used by merchants, acquirers and payment processors, PAR can enhance security by limiting references to a cardholder's primary account number (PAN) in the payment ecosystem.
