Banking 2020

NOVEMBER 19, 2015

Biometric authentication has rightly been hailed as a safer and more secure way to verify the person initiating a payment. As we’ve moved from signature cards to PINs, so the next step is from the PIN to a fingerprint scan, pulse monitor or iris sensor. But is biometric data as secure as we imagine it to be?

Security 40

Security Fraud Data Industry 40

Banking 2020

NOVEMBER 12, 2015

It was barely two years ago that the world’s first facial recognition payment system was developed, but now it seems this technology is set for lift-off globally. Cameras mounted onto the front of an ATM or POS could even recognise consumers as they approached, producing what the developers claimed was the “world’s fastest payment system.”.

Technology 40

Technology Payments ATM System 40

Banking 2020

NOVEMBER 11, 2015

Payment cards created a safer and quicker way to pay compared to cheques. Online banking lets people manage accounts without having to visit a branch. But what’s driving payments innovation nowadays? New digital payment methods are seen as largely positive because they make it easier to pay. Acceptance.

Payments 40

Payments social media ATM Innovation 40

Banking 2020

NOVEMBER 8, 2015

MasterCard is setting free contactless payments, with a move to end the cap on tap-and-go transaction values. The card giant says shoppers will be able to use their contactless device for high value payments at all contactless terminals across Europe by 2017. The momentum behind contactless is very strong. Fraud question.

Payments 40

Payments Fraud Cards Retail 40

Banking 2020

OCTOBER 17, 2014

Banks Need to Examine Resource Allocation – Bank Systems & Technology. Mobile Wallet-Linked Offers vs. Card-Linked – Credit Union Times. Digital Banking at JP Morgan Chase – Finextra. How Banks Are Trying to Become More Like Tech Companies – MSN Money. What have you been reading?

Mobile 48

Mobile Payments Washington Resources 48

Banking 2020

OCTOBER 15, 2015

There was a time when the launch of a new mobile payment system from one of the world’s largest and most dynamic technology companies would have been a massive event. And that lack of excitement says more about the state of mobile payments than a hot new product might. It even offers prompts to use available loyalty or gift cards.

Mobile 40

Mobile Payments Samsung Google 40

Banking 2020

FEBRUARY 26, 2015

2014 marked the year we became all too familiar with terms such as data breaches, data protection and payment solutions, thanks to high-profile security breaches to Target, Staples, Kmart, and The Home Depot, to name a few. To start with, we learned that the payment solutions system in the U.S.

Payments 40

Payments Bitcoin Mobile System 40

Banking 2020

NOVEMBER 28, 2015

As the US comes out of its first post-EMV liability shift months, it’s worth looking at how chip cards have evolved over the years to improve security and how lessons learnt in other countries have made smart cards more secure than ever. These were card-present frauds that managed to nullify the PIN. CDA explained.

Fraud 40

Fraud Cards Security Analysis 40

Banking 2020

DECEMBER 3, 2015

Cash has always been the ultimate way of hiding your tracks but now the banking industry needs to start paying more attention to so-called ‘hidden payments’ that are not conducted using traditional channels, as these activities are growing at an increasing rate. Why the move to hidden payments?

Payments 40

Payments Bitcoin Regulation Mobile 40

Banking 2020

JANUARY 29, 2016

Frictionless payments? But while progress has been steady, so far there has not been a revolutionary shift that has led to seamless, ubiquitous payments. The latest development comes from BNP Paribas, which is trialling a new generation of advertising displays that incorporate contactless payment capabilities.

Payments 40

Payments social media Innovation Strategies ATM 40

Banking 2020

NOVEMBER 25, 2015

China has introduced new draft rules that are intended to tighten regulations governing online payments in the country. Therefore, proposals issued by the country’s central bank will aim to add “much-needed safeguards” to tackle these issues, the Wall Street Journal reports.

Regulation 40

Regulation Online Marketing Payments 40

Banking 2020

OCTOBER 12, 2015

Named after the three organisations that developed the specifications – Europay, MasterCard and Visa – EMV is the global benchmark for credit and debit cards that incorporate chip technology. EMV cards have embedded microprocessors that make them much more secure than traditional magnetic stripe cards.

Fraud 40

Fraud Cards Security Data 40

Banking 2020

JANUARY 28, 2016

It’s a question that’s beginning to be asked as the explosion of new technology in the payments industry means consumers and businesses are left with an endless stream of channels to use. Amazon Local Register is certainly not the first payment service to fail. Are there too many ways to pay? Omnichannel trouble.

Industry 40

Industry Payments System Online 40

Banking 2020

JANUARY 22, 2016

But just how far have things really come since the introduction of chip cards and terminals? The National Federation of Independent Business (NIFB) reports that only about a third of smaller merchants are familiar with the new chip cards. One-third who had tried to use their new EMV card were not aware of the correct way to do so.

US 40

US Report Cards Security 40

Banking 2020

JANUARY 25, 2016

Brainpower alone could be the ultimate end for biometric payments, with researchers looking into how we can authorise transactions with nothing more than thoughts. Biometric technology is the new frontier for payment authentication; enabling providers to put an end to passwords and PINs. Brain versus brawn. Mind over matter.

Security 40

Security System Technology New York 40

Banking 2020

OCTOBER 7, 2015

The EMV (Europay, MasterCard, Visa) shift went into effect on October 1, 2015 and a majority of large retailers and merchants have upgraded POS terminals to accept EMV chip cards. Despite this new mandate, many consumers are still waiting for new EMV cards. The Payments Security Task Force estimates that 63% of all U.S.

Cards 40

Cards Security Retail Survey 40

Banking 2020

NOVEMBER 24, 2015

Banks prevented £7 in every £10 of attempted fraud, according to Financial Fraud Action (FFA) UK, which reports that losses on payment cards, online and telephone banking and cheques totalled £325.3 The organisation said: “Banks’ and card companies’ security systems detected and prevented a total of £910.9

Fraud 40

Fraud Cards Cyber Security System 40

Banking 2020

DECEMBER 8, 2015

Mexico’s consumers are being hit by payment fraud losses, but they are prepared to do something about it. This amounted to a three per cent increase from the year, with credit cards accounting for nearly half of the losses. billion losses on credit and debit cards, cardholders had to absorb a loss of MXN 2 billion. Fraud rises.

Fraud 40

Fraud Cards Online Strategy 40

Banking 2020

NOVEMBER 12, 2014

Chris Barnett: The problem that Eyeprint ID solves is the password: Both the inconvenience of a password and the security vulnerability of a password. That’s why Russian mobsters have an arsenal of over 1 billion stolen passwords and that’s why a stolen username and password sells for more on the black market than a stolen credit card number.

System 101

System Security Groups Mobile 101

Banking 2020

NOVEMBER 17, 2015

It’s been very well documented that fraud tends to shift to the card-not-present (CNP) arena when EMV is introduced in a country. In the UK, counterfeit card fraud at first fell sharply but then picked up in 2007 and 2008 as it shifted abroad. It’s getting harder for criminals to use stolen EMV card details abroad.

US 40

US Atlanta Fraud Cards 40

Banking 2020

DECEMBER 16, 2014

Brice Mindrum: We are seeing significant adoption from our members, many of whom were eagerly waiting for our cards to be supported. Are you adding any additional security or authentication on top of provisions within the Apple Pay service? We believe the security measures implemented by Apple and Visa are sufficient.

Apple 84

Apple America Training Cards 84

Banking 2020

NOVEMBER 25, 2015

This has posed problems, not least the fact it’s the only country in the world where counterfeit card fraud losses are rising. Counterfeit card fraud to drop. In the UK, losses from domestic counterfeit card fraud fell straight away. Fraud from counterfeit cards in the UK declined 56 per cent from 2005 to 2013.

US 40

US Marketing Fraud Cards 40

Banking 2020

JANUARY 15, 2015

Payment disruption and innovation. This year will be huge for payment disruption. The sheer amount of advertising around security features will begin to drive consumers away from plastic and toward mobile-only payments. Apple Pay opened the door for mobile payments, and continued evolution is certain.

Retail 40

Retail Trends Millennials Mobile 40

Banking 2020

NOVEMBER 10, 2015

The need for security. Banks will also need to invest in the most advanced security systems possible for their mobile offerings in order to ensure users have confidence in the solutions. We can see biometric authentication exploding as mobile banking takes off.

Mobile 40

Mobile social media Security Report 40

Banking 2020

SEPTEMBER 14, 2015

Mobile banking is convenient and makes it easy for people to stay on top of their finances. By transferring money, checking your balances, or scheduling bill payments from your phone, you could unwittingly put your banking information at risk. Here are the five most dangerous mobile banking habits that users should avoid.

Mobile 40

Mobile Cards Apple Online 40

Banking 2020

JUNE 11, 2015

Big changes are happening in the credit card processing industry that will impact every business accepting credit card payments. Ideally, once EMV is fully deployed, credit cards will no longer be “swiped”. EMV is intended to replace the magnetic stripe with a more secure chip-based technology.

Cards 40

Cards Fraud System Security 40

Banking 2020

FEBRUARY 9, 2016

This shift has caused another phenomenon: Banking with a brand-name institution is now less important to consumers. There’s been a move to “white-label” banking , where banks provide the financial capabilities for payment wallets like Google Wallet and Apple Pay. Millennials have emerged as mobile trailblazers.

Mobile 40

Mobile Industry Millennials Survey 40

Banking 2020

JANUARY 26, 2016

The challenge here is do something secure enough to handle sensitive data like payments, bank details, social security numbers, etc. So the task is falling to banks, who are increasingly realizing that they are the trusted custodians of essential personal data. Schemes like these are conceptually nothing new.

social media 40

social media Online Data Security 40

Banking 2020

AUGUST 20, 2015

The payments industry has gone through some pretty rapid changes over the last ten years or so; but just where will we be a decade from now? Cash might diminish in use in some regions (Western Europe for example), but will elsewhere continue to be used for cultural reasons,” says the WPR 2014 from Capgemini and Royal Bank of Scotland.

Payments 40

Payments social media cryptocurrency System 40

Banking 2020

NOVEMBER 12, 2015

The Digital Enablement Express scheme was launched in early September, with Capital One, Fifth Third Bank and KeyBank among the first issuers on board. It makes it easier for wallets like Android Pay or Samsung Pay to request payment tokens via the MasterCard Digital Enablement Service. What is tokenization? Tokenization confusion.

Samsung 40

Samsung Google Cards Security 40

Banking 2020

JANUARY 20, 2016

Consumers have grown accustomed to a faster, more secure world and expect payment solutions to follow suit. Cash and checks have taken a backseat to faster, more efficient payment methods like credit and debit cards. Cryptocurrency is often lauded as the future of payments. Consumer and technology trends.

Mobile 40

Mobile Millennials Bitcoin Security 40

Banking 2020

DECEMBER 23, 2014

We recently touched base with Shane Howell, Chief Product Officer, Westpac New Zealand , to discuss how Westpac’s mobile payment sticker roll-out was a strategic risk worth taking. In a few sentences, can you tell us about Westpac Bank? . Can you tell us about the recent mobile payment stickers Westpac recently launched?

Mobile 47

Mobile Technology US Payments 47