Payment Security
IBM and Visa join forces to turn billions of connected devices into points of sale
IBM has struck a deal with Visa which will give all of Big Blue's Watson IoT platform customers access to the card giant's payment services, potentially turning billions of cars, fridges, sneakers and other connected devices into points of sale.
94% of Financial Services Executives Believe Boards have Bought into Blockchain, Synechron survey shows
Synechron Inc., the digital, business consulting and technology services provider, today reveals 89% of senior executives questioned in a survey conducted by TABB Group believe blockchain will be in everyday use in the financial services industry by 2026. The results suggest that despite various levels of action on blockchain initiatives, the majority of financial services organizations believe in the long-term, innovative potential of blockchain and are merely calculating how to take action factoring in business unit, use case and resources to achieve maximum business value.
Tesco Bank left itself vulnerable to fraud by using sequential card numbers - FT
Tesco Bank may have left itself open to fraud by issuing debit cards with sequential numbers, according to a report by the FT.
MasterCard rolls out selfie payments across Europe
MasterCard is launching its Identity Check Mobile technology in 12 European countries, enabling online shoppers to authenticate themselves through facial recognition and fingerprints.
Hitachi outed as source of Indian ATM malware infection
Hitachi Payment Systems has admitted culpability for a breach of its ATM network in India that spawned a massive recall of debit cards by the nation's banks.
Tesco Bank fraudsters drained £2.5 million from customer accounts
Tesco Bank has refunded £2.5 million to 9000 customers who fell victim to a fraud that siphoned money from their current accounts over the weekend.
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).
Global cost of card fraud increases 29% to $40bn
Oakhall, the London-based analysis firm, estimates that the cost of card fraud for the card industry increased 29% to $40.1bn in 2015 (2014: $31bn). This was primarily driven by the continuing rise in card use, a higher proportion of online shopping and the growing sophistication of fraud criminals. The study was published in conjunction with Featurespace, the global leader in machine learning adaptive behavioural analytics fraud prevention software. For the full study see the Cost of Card Fraud Report.
Debit cards to fuel global payment card expansion
Debit card numbers are growing faster than credit cards – a trend that is set to continue for many years to come, according to strategic research and consulting firm RBR.
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.
42% of global transactions now EMV-compliant - EMVCo
Technical body EMVCo today publishes transaction data that reflects year-on-year growth in the number of contact and contactless card-present payments using EMV® chip technology.
Which? slams banks over poor security
UK consumer group Which? has slammed the country's high street banks for failing to adequately protect customers from online scams.
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.
