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E-commerce, better malware, and mobile devices are on the minds of fraudsters, according to Trustwave Holdings Inc.’s latest annual data-breach study. Chicago-based Trustwave, a leading data-forensics investigator and security vendor, based its report on 450 data breaches it investigated last year around the world. Hackers targeted payment card data in …
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Networks: Prepaid Cards Navigate the Durbin Waters
Elizabeth Whalen Durbin Amendment rules affecting prepaid card transaction routing take effect next month. Already, the regulations are raising thorny operational, legal, and strategic issues that could take months or more to resolve. It’s not over yet. There is still one more provision from the Durbin Amendment in 2010’s Dodd-Frank …
Read More »M-Commerce: Redeeming Redemption
Jane Adler With the daily-deals goldmine close to played out, companies like Groupon are hoping to use payments to streamline redemptions and kick revenues into high gear. But how many followers will they have? In the minds of many consumers these days, the daily deal is so 2011. If you’re …
Read More »Cover Story: Durbinizing EMV
Everyone agrees EMV cards must comply with federal law. Trouble is, nobody can agree on how to make that happen. Meanwhile, a key EMV readiness deadline looms. By Peter Lucas This is no time for the payments industry to be arguing over how to route EMV debit transactions, what with …
Read More »Security: A Fertile New Field for Hackers
Linda Punch Hobbled by limited resources and other handicaps, government units are struggling to combat a rising onslaught from online data thieves. When news of a data breach hits the national headlines, it usually involves retailers, processors, and others in the private sector. But government entities from park districts and …
Read More »Endpoint: Stress Points in Acquiring
The acquiring business has entered an age of disruptive change, but it will emerge all the stronger for it, argues Eric Grover. While individual acquirers and independent sales organizations are fragile, acquiring as a whole is anti-fragile. Eric Grover is principal at Intrepid Ventures, Minden, Nev. Reach him at eric.grover@intrepidventures.com. …
Read More »Is Chase Merchant Services an Omen of a Diminished Role for Merchant Acquirers?
Could the new Chase Merchant Services (CMS) processing entity announced Feb. 26 by JPMorgan Chase and Co. and Visa Inc. be a harbinger of a major change in the way bank card payments operate? The payments industry is abuzz with talk about how CMS could shake things up by enabling …
Read More »Security Firms Start to Respond to Online Fraud Fears Triggered by Arrival of Chip Cards
With the United States playing catch-up with Canada and much of Europe in deploying chip card technology, security firms are starting to respond to online operators’ fears that the arrival of chips at the point of sale will drive fraud to the Internet. One of the latest of these …
Read More »Criminals Are Increasingly Targeting E-Commerce And Mobile Devices, Study Finds
Fraudsters are turning their attention to e-commerce sites, continuing to improve the malware they use to find and harvest payment card data, and sensing opportunity in mobile devices, according to the latest annual data-breach report by Trustwave Holdings Inc. Chicago-based Trustwave, a leading data-forensics investigator and security vendor, based …
Read More »Eye on M-Commerce: Amazon Coins a Digital Currency; Google Cites New ‘Forms of Payment’
Amazon.com Inc. on Tuesday said it will jump into the digital-currency market with Amazon Coins, a payment product it will roll out in May on for its popular tablet, the Kindle Fire. Users of the device will be able to redeem the new currency on the Amazon Appstore, which …
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