A “major flaw” has been discovered within Visa contactless cards, where thieves in the U.K. were to sidestep a £20 limit and charge as much as £999,999.99 as long as they chose the option to select a foreign currency, according to a report in The...
Payments professionals invest a lot of time and money protect payment card data and shopper PII specifics, but thieves are now zeroing in on an apparent soft spot: rewards points, especially points that can easily be converted into cash. Get the Full Story Complete the...
One of the tenets of banking security rules today is that consumers must protect their PINs and passwords. If a customer, for example, posts his/her password on a publicly accessible social media site and fraud soon happens, the bank won’t cover the losses. But what...
Whoever said there’s no such thing as bad PR obviously wasn’t on the receiving end of the whooping that Rite Aid, CVS and CurrentC took last week over their decision to turn off support for Apple Pay in their stores. Get the Full Story Complete...
Payments security is a problem today with many solutions – EMV, tokenization, P2P encryption, to name but a few. But while there seems to be no lack of effort and options for securing the motion of money at the point of sale, the industry seems...
The recent card breach at Home Depot has reportedly cost credit unions nationwide about $60 million. The largest retailer data theft in history (so far, Christmas is coming) has already been the subject of lawsuits from two Pennsylvania credit unions in federal court. The suit...
Cyberthieves seeking payment card data have a tendency to sniff out a weak link, the softest way to enter a secure site. With Target, it found credentials to get in through a refrigeration, heating and air conditioning subcontractor. New word is that J.P. Morgan Chase’s attackers...
USA Today has weighed in on the Apple Pay MCX CurrentC issue and is not pulling any punches. MCX seems to be what would have happened had “the Three Stooges had been given the assignment of introducing a new and safer way for consumers to...
A volley of accusatory news releases and letters to Congress between groups representing major retailers and credit unions has erupted, with each side accusing the other not doing enough to defend against cyber attacks and other payment card data threats. Get the Full Story Complete...
