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Issuers' Fraud Concerns Undermine Innovation for Merchants
In theory, all parties benefit when consumers have their choice of payment options, but the deluge of new technologies has led issuers to respond in ways that could create lasting frustration for consumers and merchants.  more »
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Visa is providing merchants with an online information and resource center to prepare for their transition to using chip-enabled credit and debit cards. more »
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Because biometrics can't be reduced to a single hash (a number generated from a string of text), providers that store biometric information must rely on the security of their encryption keys for safekeeping of data that can't be revoked. more »
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American Express has created a new cobrand credit card for consumers who shop through its Plenti loyalty program. more »
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Discover Financial Services has promoted Julie Loeger to its chief marketing position for U.S. cards. more »
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The Costco cobrand card was a huge win for Visa, but nevertheless the card network's chief executive, Charlie Scharf, found himself defending the terms of the partnership. more »
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Corporate payment cards usually have sophisticated restrictions or controls designed to make unauthorized use difficult, if not impossible. more »
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Data security organizations have developed an EMV chip-card education program to help independent sales organizations and software vendors simplify testing and certification for their merchant clients. more »
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Everlink Payment Services Inc. of Markham, Ontario, has introduced a new anti-fraud service that allows Interac debit card users to activate and deactivate their accounts for security. more »
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Ironically, two current U.S. payment security initiatives – the EMV chip-card migration and the faster payments project – will prompt hackers to find new ways to compromise banking networks. more »
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No security offering can totally eliminate network data breaches, but fast detection can prevent a successful attack from becoming a large-scale disaster. more »
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An advanced strain of malware is capable of attacking Windows point of sale terminals, stealing cardholder data and upgrading itself while hiding in plain sight. more »
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Even with the card networks' U.S. EMV migration deadline half a year away, basic knowledge of EMV technology is still poor. Fime is addressing this concern by offering its expertise to American issuers such as credit unions and community banks, which may need additional knowledge but are reluctant to outsource their entire EMV project. more »