With its enforcement action against Dwolla Inc., announced on Wednesday, the Consumer Financial Protection Bureau made plain it is expanding its writ to include data-security practices and putting digital-payments startups in its cross-hairs. The ripple effect could reach a number of payments providers if they are incautious about data …
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Sky’s the Limit for Amazon Payments As It Handles Onboard Purchases for Southwest
Many consumers will find it easier to make onboard entertainment purchases when flying on Southwest Airlines Inc. now that the airline is accepting Pay with Amazon. Announced Wednesday, the service enables Southwest passengers who have stored payment data in their Amazon.com Inc. accounts to pay with those credentials. To pay for …
Read More »Security Questions Arise as Biometrics Gain Ground in Authentication
With biometric authentication now enabled in millions of smart phones and the focus of intense technological development, some payments experts are warning that biometric data can, just like old-fashioned passwords, be stolen, potentially leading to big problems for consumers and payment-service providers. “Biometrics are sure to proliferate in the next …
Read More »The $8 Billion Problem
Card-not-present fraud isn’t the only looming threat for payments providers and merchants. Account-takeover losses are also set to take off. As criminals find it easy and affordable to use the Internet to obtain millions of pieces of personally identifiable information about consumers, the prospects of greater fraud overall are …
Read More »The $8 Billion Problem
Card-not-present fraud isnäó»t the only looming threat for payments providers and merchants. Account-takeover losses are also set to take off. As criminals find it easy and affordable to use the Internet to obtain millions of pieces of personally identifiable information about consumers, the prospects of greater fraud overall are high. …
Read More »Visa Tweaks a Deadline, but Proceeds With PCI Compliance Plan for Small Merchants
In response to pleas from merchant acquirers, Visa Inc. this month modified a deadline in its program to get small merchants into compliance with the Payment Card Industry data-security standard, a program the leading payment card network announced to acquirers in October. The change affects the usage of qualified integrators …
Read More »Guarding the Online Channel
If history is any guide, card-not-present fraud will spike now that EMV has officially arrived in the United States. Can a growing array of fraud-prevention technologies stem the tide? When it comes to plying their deceptive trade, fraudsters exploit the weakest link in the security chain. With the EMV chip …
Read More »New Visa Security Requirements Aim To Reduce Small Merchants’ Data Breaches
Visa Inc. has announced new data-security requirements for small merchants, one of which says that beginning Jan. 31, 2017, merchant acquirers must annually validate compliance by their so-called Level 4 merchants with the Payment Card Industry data security standard. Other new Visa requirements involve qualified integrators and resellers, or QIRs. …
Read More »The Surge in Online Fraud Is Already Here
The notion that the belated U.S. conversion to the EMV chip standard will drive up e-commerce fraud was fresh wisdom several years ago, when EMV was but a glimmer in the payments industry’s eye. Then, with repeated airings, it became a commonplace. And now, with the point-of-sale liability shift having …
Read More »Repelling the Card-Not-Present Fraud Assault
The payment card world is bracing for a spike in card-not-present fraud now that the U.S. is an EMV country. What’s to be done? The U.S. became an “official” EMV country Oct. 1 by virtue of its point-of-sale liability shift. As credit and debit cards with EMV chips and payment …
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