Credit Card Surcharging Expected To Continue Despite Rejection of Interchange Settlement
“Visa is disappointed by the decision of the U.S. Court of Appeals for the Second Circuit,” a Visa spokesperson says in a statement. “We are reviewing the specifics of the ruling and will decide our next steps. Visa remains committed to working with retailers to grow their businesses and provide them with efficient and valuable […]
‘I Need Knowledge:’ Merchants Express Befuddlement About EMV, Breaches, System Issues
Merchants would like nothing more than to decipher what they call the “mysteries” of the payments universe, a select group of them told attendees Thursday at the Western States Acquirers Association conference in Scottsdale, Ariz. These mysteries, they said, include knowing whom to call when a problem crops up, what to know about EMV chip […]
‘Digital ID’ Is the Solution for EMV’s Online Blind Spot
In order to successfully and scalably combat card-related fraud and digital payments hacking, organizations need to rely less on standards like EMV and PAN/PRN, and recognize today’s currency is no longer just about money. Instead, digital identity has emerged as a new form of currency, and it requires protection too. Counterfeit fraud, card-not-present fraud, fraudulent […]
US to Hand Over Control of the Internet ‘Address Book’ to ICANN
A tiny branch of the U.S. Commerce Department is preparing to hand over control of the Internet’s “address book”—the highest level of the Domain Naming System, or DNS—to the Internet Corp. for Assigned Names and Numbers, a Los Angeles-based international nonprofit, effective Oct. 1, Ars Technica reports. Republican lawmakers have tried to block the move, […]
COMMENTARY: A Look at the Top 4 Security Trends for 2017 in the Payments Industry
After years of card-data breaches and other bad news, four very encouraging trends are emerging that bode well for better security. Here’s a quick look at all four: Integrators are taking the QIR program seriously. When the PCI Security Standards Council and Visa Inc. initially released the Qualified Integrator and Reseller (QIR) certification program in […]
Biometrics Scare Sends a Reminder About the Need for Thorough Data Protection
What appears to be only a scare about a breach of fingerprint data from a kiosk deployer is sending a reminder to the payments industry that biometrics are no panacea for data-security problems. “Any security system is not 100% bulletproof,” says David Lott, payments risk expert at the Federal Reserve Bank of Atlanta. “Anything can […]
The security of pretty much every computer on the planet has just gotten a lot worse
(CNN)The security of pretty much every computer on the planet has just gotten a lot worse, and the only real solution — which,of course, is not a solution — is to throw them all away and buy new ones that may be available in a few years. On Wednesday, researchers announced a series of major […]
The Extortionists Behind Ransomware Are Demanding Dramatically Higher Sums
Phishing attacks, typically launched via email, were the vector in 30% of cases, with software weaknesses accounting for the remainder. For the fourth quarter, the number of unique phishing reports
Five Firms Hit by ‘Crypto-Sweep’ in Alabama as Regulators Step up Operation
Cease and desist letters have been sent to five crypto companies operating in Alabama, as part of the ongoing “Operation Crypto-Sweep.” The campaign, led by the North American Securities Administrators Association, is targeting ICO projects and blockchain startups suspected of fraudulent activities and violations of existing securities laws. Actions have been taken already by NASAA […]
Developers Work To Combine NFC With Blockchain for POS Transactions
So far, neither near-field communication nor blockchain has been a blockbuster technology for payments in the U.S. market, but now developers are working on combining the two in a way they hope will give cryptocurrencies a big boost at the point of sale. The idea is to create a standard for a new protocol called […]