News

April, 2015

• 1 April

  EMV Cards and Terminals Have a Small but Fast-Growing Foothold, Visa Reports

  Visa Inc.’s U.S. payment card issuers had about 48 million EMV chip cards in the market as of Dec. 31, a Visa executive said Wednesday. And, somewhat surprisingly, about 80% of the small number of U.S. EMV transactions today are coming from small merchants rather than big retailers, which are …

March, 2015

• 30 March

  ISO That Allegedly Processed $26 Million in Unauthorized Charges Settles With the FTC

  By Jim Daly A California independent sales organization called CardFlex Inc. and its two principals have settled federal charges that they allegedly processed more than $26 million in unauthorized charges for a company known as I Works. CardFlex strongly denied the FTC's charges and said it settled in order to …
• 30 March

  As EMV Deadline Nears, CardFlight Preps a Mobile Reader for Chip And Signature

  Mobile point-of-sale service developer CardFlight Inc. will make an EMV chip card-compatible mobile POS reader available in the second quarter, in anticipation of the Oct. 1 liability shift. That’s the date card fraud at the point of sale is scheduled to shift to the party least prepared for it. The …
• 30 March

  Corporate Treasurers Report a Rise in Attempted Wire-Transfer Fraud; Favor Chip-and-PIN

  A near-doubling of attempted wire-transfer fraud and strong corporate support for the chip-and-PIN variety of EMV card payments are among the highlights of the latest payments-fraud study from the Association for Financial Professionals. The recently released study by the Bethesda, Md.-based AFP, an association of corporate treasury managers and finance …
• 30 March

  The Fed Finds Rising Mobile-Payments Adoption, But Big Hurdles Hinder Usage

  The number of mobile-payments users in the United States is growing steadily, but most mobile-phone owners still find other payment methods more convenient, and the frequency of payment use with phones is still low. These are among the conclusions of a Federal Reserve consumer survey conducted in December that also …
• 27 March

  Eye on Mobile: Mobile Devices Becoming More of a Retailer Ally in Authenticating Online Consumers

    Smart phones may become a strong ally to fraud-plagued e-commerce merchants in helping to verify the location and identity of an online shopper. Online fraud is often committed by criminals who manipulate their computer’s location data and other attributes to make it appear they are who they say they …
• 26 March

  Eye on Risk: CyberSource Offers ‘What-If’ Tool; How Mobile Affects Fraud

  Merchants face relentless and ever-changing attempts to make fraudulent online transactions, but measuring the effectiveness of rules in place to counter those attempts takes time. Now, CyberSource, a unit of Visa Inc., is offering a service called Decision Manager Replay that lets merchants test various anti-fraud measures for online transactions …
• 26 March

  Acculynk’s Mobile Update Brings PIN Authentication to Online EMV Purchases

    Merchants looking for a way to secure e-commerce and mobile-commerce transactions made with credit and debit cards have a new option with the debut of an update to Acculynk Inc.’s PaySecure service. The Acculynk technology allows consumers to make PIN-based transactions on their PCs and mobile devices. The Atlanta-based …
• 25 March

  COMMENTARY: Banks Are Responsible for Weak Authentication in Apple Pay Fraud

  Apple Inc.’s Apple Pay mobile-payment system has taken some hits over rumors of rampant fraud. According to some reports, Apple Pay fraud is 60% higher than mag-stripe credit card fraud. And now, with the announcement two weeks ago of the Apple Watch and its support of Apple Pay, there is …
• 25 March

  ShopKeep Buys Long-Time ISO Partner Payment Revolution To Offer Integrated Payments

  ShopKeep.com Inc., a provider of tablet-based point-of-sale technology, on Wednesday announced the formation of a new payments division built around its long-time independent sales organization partner, Payment Revolution LLC, which ShopKeep has acquired for an undisclosed price. Payment Revolution co-founder and chief executive Etie Hertz is now senior vice president …