News about Fraud.
May 5th, 2016
The State Bank of Vietnam has instructed banks to “quickly carry out a plan to convert all magnetic cards into chip cards to prevent fraud”, according to Vietnam News. “Besides security, the conversion to the new card is also meant to get infrastructure ready for the application of new payment technologies in the near future,” the publication reports. “Five banks will be chosen to trial the conversion and other banks will follow suit.”
April 28th, 2016
MasterCard has unveiled M/Chip Fast, a technology advancement designed to help speed up EMV transactions at the checkout. “A shopper inserts his or her card into an M/Chip Fast-enabled terminal,” the company explains. “M/Chip Fast provides counterfeit fraud protection by creating a unique code for each transaction. Once the code is generated, the card can be removed from the reader.” The announcement follows the unveiling of Visa’s Quick Chip for EMV service.
March 31st, 2016
NFC World partners Proxama, Giesecke & Devrient, Gemalto, Carta Worldwide and Bell ID will be exhibiting at the Money20/20 Europe expo in Copenhagen from April 4-7.
March 24th, 2016
A white paper that examines the advantages of using new, digital PIN delivery mechanisms to replace traditional PIN mailers is now available to download from the NFC World+ Knowledge Centre.
March 18th, 2016
Seven in ten consumers (70%) believe that 2030 will be the year that mobile payments become secure enough for traditional payment methods such as cash and cards to no longer be required, the IEEE’s Global Cyber-security Survey has found. The biggest concerns with mobile payments today are payment information hacks (46%), unauthorized payments processed by a mobile payment provider (33%) and accidental payments made via NFC or QR codes (13%).
February 24th, 2016
PARTNER NEWS: Digital security giant Gemalto and payment processor Prosa have partnered to bring host card emulation (HCE) based mobile payments to Mexico. Prosa operates in eight Latin American countries and will be offering the…
February 23rd, 2016
Consumers across the US, Canada and parts of Europe will soon be able to authenticate their online transactions with their fingerprint or face using MasterCard’s ‘selfie pay’ system. The confirmed launch of the service — expected this summer — follows a successful pilot in the Netherlands.
February 8th, 2016
A five-page white paper that explains the advantages of NFC for in-home healthcare providers is now available to download from the NFC World+ Knowledge Centre. ‘Deliver secure quality in-home patient care using the simplicity of NFC’ has been produced by security system supplier HID Global and compares different electronic visit verification technologies and explains how they address key areas of healthcare fraud.
January 27th, 2016
A 16-page study that presents findings from research into how companies approach payment data security is now available to download from the NFC World Knowledge Centre. The study also reveals why IT professionals believe the risk…
January 13th, 2016
More than half of UK consumers (54%) are willing to authorise payments using biometric technology, research from Experian shows. Accessing online accounts (64%) topped the list of services people are most willing to use biometric…
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.
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.
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.”
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…
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…
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…
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.
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.
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…
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.