May, 2020

• 1 May

  Security Notes: The Digital Dollar Claim Check

  

  A claim check for a certain sum of money, X, which can be claimed 24/7 for its exact nominal value, with instant credit to the claimant account, is not exactly a box full of coins summing up to X dollars. It is like a key to a readily available box …
• 1 May

  A Glimpse of Costs to Come

  

  Visa Inc. and Mastercard Inc. have postponed their planned U.S. interchange revisions until July, but when these changes do take effect the net impact on merchants could be deep, according to an analysis released last month by CMSPi, an Atlanta-based global merchant payments consultancy. Indeed, the new pricing planned by …

April, 2020

• 1 April

  Payments 3.0: Fintechs’ Regulatory Gray Areas

  

  The rapid growth of payments technology has created gray areas in regulatory compliance and consumer protection, and regulators are working to catch up. The most recent example is the request for information published Feb. 26 by the Federal Deposit Insurance Corporation. The FDIC wants comments on “potential changes to its …
• 1 April

  Security Notes: Payments in a Time of Crisis

  

  “Social distancing,” the idea that we can slow down the spread of the novel coronavirus by isolating ourselves as much as is practicable, could help fight the disease but may also have bad knock-on effects of its own. It could shut down restaurants and other socially minded businesses, causing layoffs …
• 1 April

  PCI Compliance Is Getting Tougher

  

  Independent sales organizations are increasing their use of non-compliance fees for merchants that don’t adhere to PCI Security Standards Council requirements, with 23% of ISOs surveyed for the ControlScan/MAC 2020 Acquiring Trends Report saying they assess these fees. That’s up from the historic range of 17% to 18%. The report, …

March, 2020

• 1 March

  Payments 3.0: Acceptance Is the Key

  

  Creating a new payments form factor is one of the ways the industry likes to add excitement to its innovations for consumer transactions. Whether it’s mobile phones, watches, or (shudder) implantable chips, a new form factor can offer a way to stand out from the competition and build in tools …
• 1 March

  Security Notes: Ransomware: A Strategic Response

  

  When two hackers share a beer, they lament the diminishing returns from hacked privteware, as they call it. “My clients get angry when I sell them private credentials of people that had been hacked before,” says one. “You cannot re-steal a Social Security number! Monetizing becomes a challenge.” “So go …
• 1 March

  Interchange: Tweaks Or Trouble?

  

  After a long period of stability, bank card interchange rates may be about to change. Visa Inc. reportedly is planning adjustments that could raise merchants’ acceptance costs for card-not-present transactions but lower costs in some other categories, including purchases at big grocery-store chains. Citing a Visa document circulating among the …

February, 2020

• 1 February

  Payments 3.0: What is the Future of Privacy?

  

  Privacy is one of the biggest issues facing payments. Individuals, businesses, and governments confront decisions on how data is gathered, stored and protected, and used. We all generate huge amounts of data every day as we shop online or in stores, browse the Web, or even just move around with …
• 1 February

  Security Notes: Choose Cyber Peace!

  

  Encryption that is mathematically secure is readily available, but not used. Many Microsoft Windows vulnerabilities are known, but not publicly exposed. Digital payment without the Internet is possible, but not pursued. These pathways to cyberspace are left untreaded because a quarter-trillion-dollar industry (2023 projection) is thriving on cyber war (see …