Fraud & Security

Stolen European payment card numbers and related data are popular imports in the U.S. black market, which is why European bankers, merchants and data-protection executives are looking forward to America’s EMV chip card liability shift that takes effect Thursday. That’s the word from Jeremy King, international director of the Wakefield, …

The Oct. 1 onset of the EMV-inspired liability shift for fraudulent transactions represents a potential financial impact for retailers, and now with that date only days away, many of them have become eager to get their hands on EMV point-of-sale terminals. Merchants could be on the hook for fees related …

Managing the integration of EMV payment acceptance into point-of-system software can be replete with nuances unfamiliar to many developers. That’s where a product announced Tuesday by two payments companies working jointly could assist. Seattle-based independent sales organization Gravity Payments Inc. has teamed with Creditcall Ltd., a United Kingdom-based transaction gateway …

The three-legged stool of merchants, payments companies, and consumers necessary to enable EMV chip card acceptance may be a little wobbly in the early going if the results of a new consumer survey are any indication. Fifty-nine percent of consumers say they are not ready for EMV, finds a survey …

Merchants contend with fraud all the time, but the 2015 edition of the LexisNexis True Cost of Fraud study has found that their fraud costs are tallying 1.32% of revenue in 2015, a whopping 94% increase from the 0.68% rate in 2014. All categories of merchants in the LexisNexis Risk …

Expectations of easily getting merchants ready to accept EMV credit and debit cards appear to be misaligned with the reality of the terminalization program. That’s one finding from a survey released Thursday by The Strawhecker Group, an Omaha, Neb.-based payments consultancy. To accept EMV chip cards, merchants must have compatible …

By Jim Daly With the much-heralded EMV liability shift now less than a month away, the United States could be likened to briskly walking, though hardly running, toward the finish line of full-fledged chip card payments. New figures provided by Visa Inc. to Digital Transactions News on Friday show that …

An unlikely panelist showed up Wednesday at the Fall 2015 Mobile Payments Conference in Chicago: country music singer and songwriter Rick Monroe, who urged his listeners to get down and get to work on apps that can help musicians sell songs and merchandise. “Mobile has become a way for artists …

Growing consumer use of mobile devices like smart phones is making the devices more attractive to criminals trying to capture payments data. That’s the assessment from ThreatMetrix Inc., a San Jose, Calif.-based data-security company, in its “Cybercrime Report: Q2 2015” report, which analyzed more than 75 million attacks that were …

While a seemingly unending rash of data breaches has payments players scrambling to adopt a panoply of fraud-fighting technologies, little attention has been focused on the consequences for issuers and merchants when cardholders are wrongly turned down at the point of sale because of fraud suspicions. It’s a big problem—bigger …