Fraud & Security

American Express Co. is now marketing a set of tokenization, security, and mobile payments services under the AmEx Enabled Digital Solutions moniker. Included in the service is the card brand and acquirer’s digital-wallet platform, near-field communication (NFC) and host card emulation technology, the American Express Token Service, and American Express …

By John Stewart In the wake of the arrival of EMV chip cards and ahead of the holiday shopping rush, the Shazam debit network has launched a mobile feature that lets cardholders disable their debit cards should they be lost or stolen. While networks like Discover Financial Services have advertised …

By John Stewart As the holidays approach, retailers and banks can expect to sell more electronic gift cards than ever, if research released Monday by Bankrate.com is any indication. The survey, which covers 60 general-purpose and proprietary gift cards, shows two-thirds are available as e-cards, up from 59% last year. …

Technology enabling consumers to deposit checks by snapping pictures of them on their smart phones and uploading the images through their mobile-banking apps has been around for more than five years, but mobile remote deposit capture very much remains a new product for many banks. An April-May survey by Alpharetta, …

Two weeks after what has come to be regarded as the official start date for EMV chip cards in the United States, senior executives with the major card networks gave a largely upbeat progress report to an audience of acquiring-industry owners and managers last Thursday, while acknowledging that much work …

By John Stewart Top executives in the acquiring business are accustomed to looking far into the future, but one near-term concern popped up repeatedly at this week’s Strategic Leadership conference in Scottsdale, Ariz.: How will merchants react when they get their first statements showing chargebacks for counterfeit card fraud? As …

With the coming of EMV chip card payments to the U.S. point of sale on Oct. 1, merchants, merchant acquirers and credit and debit card issuers are bracing for an expected boom in card-not-present (CNP) fraud. Countless processors, payment gateways and tech companies have announced products and services meant to …

By John Stewart The rise of tokenization into a major payments business helps enable enterprises like Apple Pay and Android Pay but could also pose a threat to the financial institutions that have historically issued the majority of the cards consumers use most often. That threat lies in the fact …

A public service announcement the FBI posted Thursday warning consumers that the new EMV chip cards “are vulnerable to exploitation by fraudsters” and urging them to enter a PIN instead of a signature during EMV credit card transactions was removed Friday, apparently at the behest of the leading banker trade …

By John Stewart Just within the past year or so, tokenization has assumed a central role in digital payments, and in that business three major card networks are the dominant—indeed, only—players performing a crucial function known as the token service provider. But this new form of payment processing is moving …