Fraud & Security

Even though the payments industry is undergoing an unprecedented attack by fraudsters, funding of cybersecurity startups by top investors will drop somewhat this year compared to 2015, according to the latest data from CBInsights, a New York City-based firm that tracks venture-capital investment. Total cybersecurity funding deals this year are …

With malware and hacker attacks on payment card-accepting devices increasing in sophistication, the PCI Security Standards Council last month announced updated rules for protecting such devices. “The updates are designed to stay one step ahead of criminals who continue to develop new ways to steal credit and debit card data …

By Kevin Woodward@DTPaymentNews With the U.S. point-of-sale conversion to EMV chip card acceptance well under way, attention turns to the upcoming liability shifts for ATM and fuel-dispenser transactions. First up is MasterCard Inc.’s liability shift for ATMs, which kicks in Oct. 21. Both MasterCard and Visa Inc. also have a …

By Kevin Woodward@DTPaymentNews ATM operators wondering if their machines will be compliant with MasterCard Inc.’s EMV protocols by Saturday, Oct. 1, now have a little more breathing room. MasterCard confirmed to Digital Transactions News Friday that the date, widely thought to be Saturday, is actually Oct. 21. While the Oct. …

• Payments processor Vantiv Inc. said its eProtect payment-security service now works with Android Pay. Vantiv also announced its validated point-to-point encryption service now includes VeriFone Systems Inc. point-of-sale equipment. • PayPal Holdings Inc. said consumers now can make PayPal payments using PayLease, a payments and billing platform for property …

By Kevin Woodward@DTPaymentNews E-commerce fraud, the bane of online retailers and payments providers, is not only on the rise, certain U.S. locations seem more prone to this deceit than others. That’s according to a recent report from Experian plc. Data-specialist Experian says the riskiest ZIP code for shipping-address fraud is …

• Avidia Bank announced it is offering same-day ACH payments using technology supplied by linked2pay, a payments-technology company. • Fuel-pump manufacturer and convenience-store technology provider Gilbarco Veeder-Root said Colbea Inc., which does business as Seasons Corner Market, is installing Gilbarco’s Passport Point of Sale system to handle EMV chip card payments …

• U.S. Attorney General Loretta Lynch is expected to announce a crackdown on a global mail-fraud scheme that allegedly stole millions of dollars from elderly victims, CNNMoney reported. At the center of the investigation is an Canadian processor named PacNet Services Ltd. that reportedly deposited many of the victims’ checks. …

By Jim Daly@DTPaymentNews The PCI Security Standards Council is now a decade old, and as it concludes its annual North America community meeting in Las Vegas Thursday it faces a payments-security landscape vastly changed from the one it confronted 10 years ago, with mobile payments, tokenization, and so-called fin-tech startups …

• The total value of contactless transactions worldwide will reach nearly $500 billion next year, up fully 56% from an estimated $321 billion in 2016, according to Juniper Research. • Samsung Electronics America Inc. said more than 500,000 replacement Galaxy Note7 phablets have arrived in the U.S. and will be available …