Digital Transactions Authoritative, insightful and timely information for payments professionals
Online merchants made some progress last year against fraud, but the fight is becoming more and more expensive for them in terms of both dollar losses and operational costs, according to a report issued on Tuesday. Indeed, the news for e-commerce sellers is mixed at best. While fraudulent orders as …
Read More »Fraud From Euronet Breach Hits Mag-Stripe Cards, Spares EMV Chip Cards
Payment processor Euronet Worldwide Inc. reported on Monday that part of its European businesses sustained a computer security breach late last year. The disclosure is of interest to the U.S. payments industry as it moves slowly toward adoption of EMV chip cards because most European cards have both a chip …
Read More »Though Zappos Case Gets ’12 off to Gloomy Start, Number of Card Records Breached Fell in 2011
Despite a seemingly non-stop parade of headlines about data breaches last year, the number of credit and debit card records compromised actually fell, according to new figures from the Identity Theft Resource Center. The ITRC says it identified 111 data breaches that exposed 3.38 million records in 2011. n In …
Read More »An FTC Settlement Highlights Regulators’ Concerns with Third-Party Risk
n n n n n n n n n n n n n
Read More »Acquirers, Small Merchants See More Risk-Reduction Value in PCI, Survey Shows
The 7-year-old Payment Card Industry data-security standard (PCI) is proving its effectiveness in preventing data breaches among small merchants, according to a survey of payments-industry acquirers set to be released next week. The survey, cosponsored by ControlScan Inc., an Alpharetta, Ga.-based vendor of PCI-compliance solutions, and the Merchant Acquirers’ Committee, …
Read More »Study Shows Merchants Still Store Massive Amounts of Unprotected Card Data
n Of 2,736 scans worldwide since Jan. 1 using SecurityMetrics Inc.’s PANscan tool, 71% revealed merchant computer systems were storing unencrypted payment card data, an 8% increase from a similar survey in 2010, according to the Salt Lake City, Utah-based provider of PCI security solutions. The participating merchants ranged in …
Read More »VeriFone Boss Says He Aims for Services to Account for Half of Revenue Within Four Years
n n n n n n n n n
Read More »Using Malware And Skimmers, Fraudsters Harvest Card Data at Restaurant Depot, Lucky
The data-breach Grinch is stealing Christmas from a big restaurant supplier and Lucky Supermarkets, a major West Coast grocery chain, both of whose payment card acceptance systems were compromised recently by fraudsters using different techniques. The breach at Queens, N.Y.-based Restaurant Depot LLC, which also does business under the …
Read More »Security Worries Arise As Mobile Payments Begin Their Ascent
The promise of mobile devices to generate new payment transactions and better service for bank customers comes with a big potential downside. Risk-control executives strongly believe fraudsters have their eyes on smart phones and related mobile devices, according to new research from Aite Group LLC. Asked if “mobile fraud is …
Read More »MasterCard And Intel Look for Near-Term Results from E-Commerce Deal
The alliance MasterCard Inc. announced earlier this week with Intel Corp. to secure e-commerce transactions will not supersede SecureCode, a MasterCard online authentication system, but will fairly soon lead to a new type of contactless-payment device from an emerging category of ultra-thin, fast-start PCs, executives with both companies tell Digital …
Read More »