Fraud & Security

By John Stewart@DTPaymentNews Online merchants are dreading an onslaught of fraud, but what they should really brace for is a much bigger problem: so-called new version, which comes from EMVCo, the standards body controlled by the global card brands, will work in-app as well as within browser-based shopping sessions and …

• Chip card standards body EMVCo issued 3-D Secure 2.0, its update of the 3-D Secure technology for protecting e-commerce transactions. The new specification supports app-based purchases on mobile and other devices and will streamline the checkout process in order reduce transaction abandonment, EMVCo says. • MasterCard Inc. announced plans to …

• Visa Inc. and chip maker and software provider Intel Corp. announced a two-pronged security initiative, one of which aims to protect the growing Zelle person-to-person payments network, to which Fiserv is providing a link. Zelle is expected to launch early next year. • In related news, Fifth Third Bank …

By Kevin Woodward@DTPaymentNews Consumers appear willing to take more steps to mitigate their online-fraud exposure than merchants are willing to provide, with 78% of consumers willing to enter a card-verification code, but only 57% of merchants requiring it, finds a new American Express Co. survey. Consumers are willing to take …

Visa Inc. announced Thursday that credit and debit card issuers in Europe will be the first issuers to adopt Visa’s program for using 3-D Secure 2.0, the impending update to an authentication protocol for online transactions originally introduced more than a decade ago. Visa said certain rules, such as fraud-chargeback …

• The rash of hotel breaches continues. Noble House Hotels & Resorts said it confirmed that a payment card system used at its Teton Mountain Lodge & Spa and Hotel Terra may have been breached between Sept. 5 and Sept. 6. The company said there are no indications the breach …

By Kevin Woodward@DTPaymentNews With the deadline for EMV compliance for fuel resellers a year away, fuel-pump maker Wayne Fueling Systems LLC is readying its products for the transition from magnetic-stripe payment cards. Wayne says its NAMOS point-of-sale system is now available for EMV transactions on First Data Corp.’s network, and …

By John Stewart @DTPaymentNews Ripple effects from the Wendy’s Co. data breach continue to swirl around the Columbus, Ohio-based hamburger chain, some perhaps in unexpected ways. A Michigan credit union that last week began declining credit and debit card transactions by its members at all Wendy’s locations refuses to say …

• Payment gateway Shift4 Corp., which claims to have introduced in 2005 the first payment-data tokenization solution, announced it has surpassed the 7-billion mark in tokenized transactions. • The NFC Forum announced it has made available a newly adopted and four candidate technical specifications for near-field communication. The adopted specification …

By Jim Daly@DTPaymentNews Best known nationally for its powerful basketball teams, the University of Connecticut is about to make a name for itself in cybersecurity. UConn’s School of Engineering and retail credit provider Synchrony Financial on Tuesday announced that Synchrony is providing $2.2 million to fund a new