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Security

News about Security.

Amex commits $10m to EMV upgrades

October 20th, 2014

American Express is to launch a US$10m Small Merchant EMV Assistance Program in February 2015 to drive adoption of EMV. “We know from speaking with our smallest merchants that they are too busy running the day-to-day operations of their businesses to keep up with the constantly changing fraud landscape,” says Amex’s Anré Williams. “We’re launching this program to help educate small merchants about point-of-sale security and offset the cost of upgrading their terminals.”

JPMorgan Chase CEO outlines mobile wallet strategy

October 20th, 2014

JPMorgan Chase plans to make its debit and credit cards available in a wide array of mobile wallets — including one of its own to be launched later this year — even if that means cutting current margins, CEO Jamie Dimon has told analysts during the bank’s third quarter earnings call. More

MasterCard backs Zwipe fingerprint payment card

October 20th, 2014

MasterCard has partnered with Zwipe, maker of a contactless payment card that includes an integrated fingerprint biometric sensor, for the commercial launch of the technology following a pilot with Norway’s Sparebanken DIN. More

Obama signs chip and pin law

October 20th, 2014

US President Barack Obama has signed an executive order “directing the government to lead by example in securing transactions and sensitive data” by adding chip and PIN security to payment cards. “He is calling on all stakeholders to join the Administration and a number of major corporations in driving the [US] economy toward more secure standards to safeguarding consumer finances and reduce their chances of becoming victims of identity theft — America’s fastest-growing crime,” the White House says.

Messenger to add payments

October 6th, 2014

The ability to make payments from within Facebook Messenger is on its way, according to screenshots and video footage spotted by Techcrunch. “Messenger’s payment option lets users send money in a message similar to how they can send a photo,” the report explains. “Users can add a debit card in Messenger, or use one they already have on file with Facebook. An in-app pincode also exists for added security around payments.”

How Apple will generate revenues from mobile payments begins to become clear

September 11th, 2014

An innovative biosensor security function built into the Apple Watch and the Touch ID fingerprint sensor in the iPhone 6 and iPhone 6 Plus will work in combination with NFC and tokenization to provide additional… More

MasterCard launches MDES token platform for mobile payments

September 10th, 2014

MasterCard has announced US availability of a token platform that enables card issuers to store tokenized versions of their customers’ card details on Apple’s new NFC devices as well as NFC phones and tablets from… More

Visa launches token service to support Apple Pay and more

September 10th, 2014

Visa Token Service, the payment network’s new platform that enables card account numbers to be replaced with digital tokens that ensure the cardholder’s actual card number is never shared with merchants, is now live and… More

Transcript: Apple CEO Tim Cook and SVP Eddy Cue introduce Apple Pay mobile payments and NFC

September 9th, 2014

“It’s all about the wallet,” Apple CEO Tim Cook explained during the unveiling of Apple Pay mobile payments and the iPhone 6, iPhone 6 Plus and Apple Watch with NFC on 9 September. “Our vision… More

NXP publishes guide to NFC and the Internet of Things

September 9th, 2014

Chip maker NXP has published a 20-page guide to NFC and the Internet of Things (IoT) that is available for readers to download from the NFC World+ Knowledge Centre. “NFC for Embedded Applications: Your Critical… More

Retailer-owned payments venture MCX unveils CurrentC brand

September 3rd, 2014

Merchant Customer Exchange (MCX), the mobile payments venture co-owned by US retail chains with collective revenues of more than US$1 trillion annually, has announced that its payments, loyalty and offers platform is to be called… More

Alipay partners with Huawei to add biometric security to mobile payments

September 1st, 2014

Chinese online payments giant Alipay is working with Huawei to enable users of the phone maker’s new Ascend Mate 7 handset to secure their mobile payments using a fingerprint sensor built into the phone. The… More

Verizon aims to replace usernames and passwords with QR codes

August 28th, 2014

Verizon Enterprise has introduced Universal ID, a service designed to replace usernames and passwords with a QR code that consumers can scan with their mobile phone to gain access to a website or app. “Users… More

Smart Card Alliance offers HCE paper

August 27th, 2014

The Smart Card Alliance has published Host Card Emulation (HCE) 101, a white paper that “takes a deep dive into HCE and NFC opportunities and security considerations”. HCE is “an opportunity for application developers to more easily provide convenient and consumer-friendly NFC applications, but also increases the chances of hackers gaining access to information through malware and/or denial of service attacks,” says executive director Randy Vanderhoof.

St George adds fingerprint security to mobile banking app

August 27th, 2014

Customers of Australia’s St George Bank will be able to use the Touch ID fingerprint verification technology built into the iPhone 5S to log into mobile banking when iOS8 launches in September. The launch will be… More

EyeVerify raises $6m

August 21st, 2014

EyeVerify has raised US$6m in Series A funding for a service that uses the camera in a mobile phone to secure access to mobile banking and other apps. The company’s Eyeprint Verification System captures and compares the pattern of blood vessels in the whites of the user’s eyes and is expected to be used “in financial services, enterprise mobility management, mobile security, telecoms, healthcare and government”.

US to get 575m chip cards next year

August 21st, 2014

More than 575million EMV payment cards will have been issued by the end of 2015 by nine leading US card issuers who are members of the Payments Security Task Force (PST), an organisation set up in March 2014 “to drive executive level discussion that will enhance payments system security”. Members of the PST include Bank of America, Capital One, Chase, Citi, Discover, First Data, MasterCard, Visa, US Bank and Wells Fargo.

Analysts report on Apple/Visa partnership

August 5th, 2014

“We think a partnership between Apple and Visa would make strategic sense and believe an announcement could happen as early as this fall,” a team of Pacific Crest Securities analysts has concluded in a new report that follows reports suggesting that two are in talks on mobile payments. “A combination of cloud-based (HCE) and physical (SE or TEE) seems like a plausible security strategy for Apple.”

US merchant groups call for creation of open tokenization standards

August 1st, 2014

Leading merchant groups in the US have come together to call for the creation of an alternative set of open standards for tokenized payments that would be managed by an independent body such as ISO or ANSI — rather than by the payments industry. More

NXP CEO: NFC secure elements will continue to see strong demand

July 29th, 2014

“We feel very comfortable with the strength of the secure element,” NXP Semiconductors CEO Rick Clemmer has told analysts during the chip maker’s second quarter earnings call. “We think that the real killer app will have… More

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