ATM jackpotting is a crime in which technology is manipulated to get the machine to dispense all the money it has. Unlike most cyber crime, it requires physical access, which increases the chances of getting caught.
U.S. payments consultancy FIME has added Discover's payment application specification (D-PAS) accreditation to the Pulse ATM network, allowing it to provide guidance and support services on EMV chip technology for acquirers and issuers unfamiliar with D-PAS.
An organized crime ring in Eastern Europe has orchestrated sophisticated cyber and physical attacks that have drained millions of dollars from banks in Russia, and banks in other countries could be targeted next.
By eliminating the friction of a cardless ATM, the utility value of the mobile wallet has just increased by an order of magnitude, writes Dan McKinney, co-founder and chief marketing officer at Finxact.