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Fear of the damage that a data breach can inflict on a brand, rather than of network fines, drives organizations to invest in compliance with the Payment Card Industry data-security standard (PCI), a study released on Tuesday says. Some 69% of the mostly online organizations surveyed cited brand protection …
Read More »Eye on EMV: UNFCU Study, Aite Survey, Jack Henry Service
n The first U.S. financial institution to introduce EMV cards, United Nations Federal Credit Union, released the results of a study along with Gemalto, the vendor of its cards. The study comes one year after the credit union launched its chip-and-PIN credit cards. As a result of the study, …
Read More »Regulators Update Online-Authentication Guidance, But What About Mobile?
Federal banking regulators on Tuesday updated their 2005 guidance about authentication for Internet banking. Officially a supplement to the original guidance, the new document addresses social media, malware, and other security issues that have cropped up in recent years. It also allows financial institutions about seven months to comply. …
Read More »PCI Council Releases ‘First Step’ Guidelines on Mobile-Acceptance Apps
The PCI Security Standards Council on Friday released its first guidelines on mobile-acceptance applications since announcing in November that it had stopped reviewing such products. The Wakefield, Mass.-based Council, which manages the Payment Card Industry data-security standard (PCI), also said it hopes to start forming a broad group of …
Read More »PCI Council Issues Virtualization Guidelines, Still Crafting Mobile Rules
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Read More »Online Fraud Losses Show Two-Year Drop for Airlines, Survey Says
The world’s airlines are seeing less fraud these days in their online bookings, thanks to more experience with Web-based ticket sales and wider usage of fraud-fighting tools, according to a study released on Wednesday. Overall, online fraud for air carriers dropped 31%, from $1.7 billion to $1.4 billion, between …
Read More »U.S. EMV Pioneers Like Wal-Mart And SECU Are Gung-Ho, But Others Show Less Enthusiasm
At least some banks and merchants may be forging ahead into chip card payments, but presentations at an industry trade show this week leave doubt whether the rest of the industry is ready to follow. Wal-Mart Stores Inc. has now enabled all of its U.S. stores with terminals to accept …
Read More »Visa, Apparently Satisfied with Square’s Security, Invests in the Startup
Square Inc. has been the mobile-payments darling of Silicon Valley because of its association with social-network superstar Jack Dorsey, the co-founder of Twitter. On Wednesday, however, the San Francisco-based startup gained the ultimate stamp of approval from the payments establishment when it disclosed that Visa Inc., the world’s largest payment …
Read More »Trustwave Hitches Its Planned Public Offering to the PCI Star
Data-security services and software specialist Trustwave Holdings Inc. served notice last week that it is planning a $100 million initial public offering, the first such IPO by a company heavily vested in services and technology for the Payment Card Industry data-security standard, or PCI. Chicago-based Trustwave’s registration statement, filed with …
Read More »Common in Acquiring, Sharing of Bad-Merchant Data Comes to the ACH
Taking a cue from bank card merchant acquirers, bank processor Fidelity National Information Services Inc. (FIS) and NACHA on Monday announced the formation of the Terminated Originator Database, a new service to help banks identify businesses that other banks have cut off from originating automated clearing house transactions because of …
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