Fraud & Security

Consumers seem to be very forgiving of retailers who experience data breaches, according to findings from a recent survey for the Merchant Acquirers’ Committee, a trade group of payment processors. Most customers resume shopping—and using a payment card—at a breached retailer within a few months, and among those that don’t …

To the extent there is greater mobile-payments use among merchants and consumers this year, that increase will likely bring with it a greater potential for fraud. That’s the cautionary note from Fair Isaac Corp. executive T.J. Horan, vice president of fraud solutions at the analytics-software company. In-store mobile payments will …

In response to pleas from merchant acquirers, Visa Inc. this month modified a deadline in its program to get small merchants into compliance with the Payment Card Industry data-security standard, a program the leading payment card network announced to acquirers in October. The change affects the usage of qualified integrators …

E-commerce merchants and the payments companies providing them with merchant services have reason to be both happy and disappointed with the 2015 holiday season. On the one hand, merchants handled the voluminous number of e-commerce orders by using their physical stores to fulfill their online sales. The volume of these …

As the payments industry contends with ongoing state and federal regulatory inquiries, the Electronic Transactions Association will release an updated version of its “Guidelines on Merchant and ISO Underwriting and Risk Monitoring” in February. The final edits are being made, says Deana Rich, principal of Deana Rich Consulting Inc., which …

Young adults and high earners have something in common. Both consumer groups are less likely than consumers overall to use debit cards, according to a report released Tuesday by Mercator Advisory Group Inc. The report, “Consumers and Debit in the U.S.: Heightened Security Concerns,” canvassed more than 3,000 U.S. adults …

Data breaches that compromised credit and debit card information were constantly in the news in 2015, but the number of cards affected is way down from the totals for 2014 and 2013, according to a nonprofit that monitors breaches. The San Diego-based Identity Theft Resource Center reports that as of …

Visa Inc. has announced new data-security requirements for small merchants, one of which says that beginning Jan. 31, 2017, merchant acquirers must annually validate compliance by their so-called Level 4 merchants with the Payment Card Industry data security standard. Other new Visa requirements involve qualified integrators and resellers, or QIRs. …

By John Stewart Acting in response to comment from the industry, the PCI Security Standards Council has extended a key security deadline for payments processors, merchants, and banks by fully two years. These players now have until June 30, 2018, to stop using Secure Sockets Layer (SSL) encryption and instead …

Efforts to get EMV chip cards into the wallets of U.S. consumers may be paying off. Some 52% of cards presented to merchants in the weeks following the Oct. 1 liability shift bear a chip, says CardFlight Inc., a mobile point-of-sale provider, in the debut of its EMV Migration Tracker. …