Fraud & Security

• Noodles & Co. reported that malware led to the compromise of an undisclosed number of customers’ credit and debit cards between Jan. 31 and June 2 at 407 locations in 27 states and the District of Columbia representing 80% of its 507 total stores; the fast-casual restaurant chain began …

Getting point-of-sale terminals through the EMV-certification process should become a bit quicker thanks to the card brands’ efforts to “streamline” the testing process. That should bode well for POS terminal maker VeriFone Systems Inc., says Vin D’Agostino, executive vice president of VeriFone Services. MasterCard Inc. and Visa Inc. separately announced programs that …

• By the end of August American Express Co. will not hold merchants liable for counterfeit fraud chargebacks for transactions under $25 as part of its updated U.S. fraud policies for EMV chargebacks. By the end of 2016, AmEx plans to limit the number of counterfeit fraud chargebacks to 10 …

There may be less ATM skimming going on than is commonly thought. Most ATMs placed in retail locations—93%—have not experienced a skimming incident, finds a survey from the National ATM Council Inc., which represents independent ATM operators. Skimming happens when a consumer inserts a credit or debit card into what …

MasterCard Inc. on Monday is releasing a new policy aimed at speeding the testing and certification of EMV chip card terminals at U.S. merchant locations. The policy change, which the Purchase, N.Y.-based network says will cut test time to a few hours from as much as a couple of weeks, …

Even the most fervent advocate of EMV would have to admit the U.S conversion to chip cards has been a rocky one, especially for merchants. On Thursday, Visa Inc. announced a four-part plan it clearly hopes will remedy at least some of the more acute headaches, including certification backlogs and …

Visa Inc. on Tuesday reported that gas stations using a service it introduced two years ago to prevent card fraud at fuel pumps has reduced counterfeit fraud by 54%. Visa says that more than 35,000 U.S. gas stations now use its Visa Transaction Advisor technology at the pump, and that …

• Merchant processor Square Inc. settled a lawsuit filed by a Washington University professor, Robert E. Morley, who said he invented Square’s card reader for smart phones. Terms of the settlement were not disclosed, but Square set aside $50 million in the first quarter to cover legal expenses from the …

Forecasters have long predicted that the U.S. payments market’s move to EMV chip cards for in-person transactions will drive criminals into e-commerce fraud. Now data is emerging to show the nuances these fraudsters are exploiting, and how the rise in online fraud is hardly limited to the U.S. market. In …

Issuers contending with payment card fraud will have to factor in mobile wallets, especially as the battle to thwart account takeovers intensifies. A majority of issuers—56%—said they cannot further reduce account takeovers without hurting the customer experience, according to a card-issuer fraud study released recently by LexisNexis Risk Solutions and …