Monday 30 November 2015 | RSS



    News about Fraud.

    BBVA Bancomer deploys time-based dynamic CCV/CVC in mobile wallet

    November 26th, 2015

    PARTNER NEWS: Mexican bank BBVA Bancomer has become the first to make use of digital giant Gemalto’s Dynamic Code Verification solution. The solution replaces traditional, static three-digit security codes with a dynamic CCV/CVC that changes every 20 minutes. More

    Four in ten US consumers plan to make an in-store mobile payment this holiday season

    November 20th, 2015

    A total of 39% of US consumers surveyed by Research Now for Inside Secure say they plan to use their smartphone to make an in-store purchase during this holiday season, up from 33% last year. 17% of those who did not make a mobile payment last year say they plan to use a service like Apple Pay, Android Pay or Samsung Pay this year. More

    UK banks warn against storing multiple fingerprints on iPhones

    November 6th, 2015

    UK banks have reportedly warned Apple Pay users that if they store other people’s fingerprints on their iPhones, they will be treated as if they have failed to keep their personal details safe. “This means the bank can decline to refund disputed transactions or refuse to help where customers claim they have been victims of fraud,”  The Telegraph reports. “This is because Touch ID works to unlock phones as well as authorise payments through Apple Pay.”

    US banks pilot mobile wallet authentication and issuance at the ATM

    October 21st, 2015

    PARTNER NEWS: ATM manufacturer Diebold has teamed up with HCE specialist SimplyTapp to offer banks a way to use their ATM network to add a layer of card present security to their mobile wallet provisioning… More

    Gemalto tackles card-not-present fraud with dynamic CVV codes

    October 13th, 2015

    PARTNER NEWS: Digital security giant Gemalto has launched Dynamic Code Verification, a payment security solution that replaces traditional, static three-digit security codes with a time-based dynamic CVV/CVC that changes every 20 minutes and can be… More

    Chevron to offer NFC mobile payments at the pump

    October 6th, 2015

    Oil and gas company Chevron has teamed up with Visa to offer mobile payments at the pump at 20 locations in San Francisco and Silicon Valley from “later this fall”. The service will be compatible… More

    Under half of US small businesses aware of EMV

    October 5th, 2015

    Some 43% of small business owners in the US are familiar with EMV cards, Capital One’s Spark Business Barometer has found, but just a third (34%) of those were accepting EMV cards as of August 2015. 54% of those familiar with EMV are “unaware” that businesses will be liable for fraudulent charges incurred on other payment systems and 6% will increase investment in digital payment solutions such as Apple Pay.

    Less than half of US small businesses aware of EMV liability shift

    August 7th, 2015

    Only 49% of small business owners in the US that accept point-of-sale card payments today are aware of the EMV liability shift on October 1, with just 29% intending to make the change before the deadline and 34% intending to do so afterwards. More

    Eight in 10 Americans aware of contactless payments

    July 10th, 2015

    Some 82% of US consumers have heard of contactless or tap-and-go payments and 69% are now using chip cards or plan to use them soon, research from MasterCard reveals. Three quarters of Americans have also… More

    One in four US consumers would share DNA with their bank

    June 22nd, 2015

    One in four US consumers would consider sharing their DNA with their financial institution if it meant it would make authentication easier and their personal information more secure, research from Telstra reveals. “Two thirds of US consumers think that using biometrics — such as voice, fingerprint, iris and facial recognition — would be more secure and help reduce the risks of fraud,” says the Australian telecoms operator’s Rocky Scopelliti.

    Visa launches VDEP service to make it easier and cheaper for banks to offer mobile payments

    May 29th, 2015

    Visa has launched the Visa Digital Enablement Program (VDEP), a new service that builds on the company’s token technology and adds a “turn-key, toll-free commercial framework accessible to more than 14,500 Visa financial institution clients and… More

    BPCE to pilot cards with mini-screen security codes

    May 21st, 2015

    France’s second largest banking group BPCE is to pilot a payment card that replaces the three-figure security code on the back of the card with a mini-screen that displays a code which automatically changes periodically…. More

    Postbank begins HCE pilot in Germany with Worldline

    May 21st, 2015

    Employees of Germany’s Postbank have begun piloting a mobile payment service based on host card emulation (HCE) that makes use of tokenization to allow NFC payments to be made at any Visa payWave terminal. PostBank… More

    Starbucks denies mobile payment hack

    May 19th, 2015

    Starbucks has issued a statement denying its mobile payment app has been hacked, following a report by investigative journalist Bob Sullivan. The article claimed hackers had recently stolen money from several Starbucks customers by gaining access to their credit card information through the coffee chain’s app and using the auto-load function. “Starbucks takes the obligation to protect customers’ information seriously,” the company says. “News reports that the Starbucks mobile app has been hacked are false.”

    Apple stores hit hardest by Apple Pay fraudsters

    March 9th, 2015

    Credit card data stolen in recent data breaches at big retailers has led to a wave of fraudulent Apple Pay transactions, reports the Wall Street Journal. “About 80% of the unauthorized purchases have been for big-ticket items bought with smartphones at Apple’s own stores.”

    US identity fraud drops, but breaches scare consumers

    March 5th, 2015

    The number of victims of identity fraud in the US decreased 3% to 12.7 million in 2014 and total fraud losses declined to US$16 billion — a decrease of 11% from 2013 — a study from Javelin Strategy & Research has found. However, a series of high-profile card data breaches had a great impact on consumer purchasing decisions, with 28% of fraud victims saying they avoided affected merchants after the fraud, say the authors of the 2015 Identity Fraud study.

    Apple Pay provisioning fraud hole “has to get plugged now”

    March 1st, 2015

    “Rampant” fraud levels being experienced by US card issuers that have signed up for Apple Pay need to be addressed with urgency, payments consultant Cherian Abraham has told NFC World, to avoid Apple, the individual… More

    Consultant: Apple Pay fraud “rampant”

    February 23rd, 2015

    Apple Pay fraud levels are now “rampant” with every Apple Pay (AP) issuer having seen “significant” provisioning fraud, payments consultant Cherian Abraham claims in a detailed blog post. The fraud levels being experienced “came as a surprise to all”, he writes. “Tokenization, on-device secure storage and biometrics separately and together are formidable, but the soft underbelly proved to be provisioning of cards into AP.”

    Six in ten US terminals to support EMV chip cards by year end

    February 19th, 2015

    About 59% of US point-of-sale (POS) terminals will be EMV-enabled by the end of this year, research by Aite Group has revealed, with NFC distribution projected to “ramp at the same rate as EMV distribution,”… More

    Understanding tokenization and host card emulation webinar: See it now on NFC World

    February 18th, 2015

    NFC World’s ‘Understanding tokenization and host card emulation’ workshop is now available to view online. 756 people registered to attend the live event, and participants gave the presentation an overall rating of 4.2 out of five…. More

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