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Thieves Innovating New Ways To Skim Consumer Credit Card Details

PYMNTS

Another day and another security threat for consumers with cards to worry about. Today’s security special comes care of the Secret Service — which is warning banks and ATM firms about the dangers of “periscope” skimmers.

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US Card Skimming Grew Nearly 5x in 2022, New FICO Data Shows

FICO

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

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OT Launches Multi-Payment Dual Interface Card

PYMNTS

Oberthur Technologies (OT), a provider of embedded security software products and services, has rolled out a multi-payment dual interface card. This card, developed on OT’s Global Platform, is the first of its type that includes new features from both Visa and MasterCard. dual debit and prepaid migration.

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i2c, Sightline Team Up For Cashless Cross-Channel Gaming 

PYMNTS

Its client roster includes MGM Resorts, Caesars Resorts, and Hard Rock Hotel and Casino; the Oregon and Pennsylvania state lotteries; Churchill Downs; Golden Nugget online; and DraftKings, FanDuel, William Hill, and Rush Street sports, among others. A value card gives VIP guests immediate access to winnings. There are more than 2.5

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Are New Prepaid Card Regulations Too Much?

PYMNTS

According to Brad Fauss, president and CEO of the Network Branded Prepaid Card Association, the recently released regulations on prepaid cards from the Consumer Finance Protection Board could be another instance of good intentions gone wrong. First National Bank of Pennsylvania, the largest subsidiary of F.N.B. Time will tell.

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Deep Dive: Credit Unions Work To Keep Members’ Data Private

PYMNTS

PYMNTS’ Credit Union Innovation Index found 65 percent of CU members chose credit unions as their primary financial institutions (FIs) because they trusted them, compared to 45 percent of non-CU members who said the same. Third-party incidents are difficult for CUs, as they do not have direct control over outside security practices.

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Competition As The Driving Force For Better Fleet Payments

PYMNTS

Innovators have a lot of friction points to choose from, too. Some of the most popular targets include the challenge of reconciling and analyzing driver spend, or mobilizing fleet cards to support the transient nature of the fleet driver’s profession.

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