How PSD2 And Open Banking Impact Security

PYMNTS

These initiatives could also lead to an increase in security risks, since sharing data among a range of financial service providers creates new opportunities for it to fall into the wrong hands.

Mastercard Talks Securing Innovation, And Innovating Security

PYMNTS

In financial services today, security and innovation can work with each other, and against each other. But customers’ constant demand for cutting-edge products and services is adding to the load of already heavy security burdens. For the banks and merchants serving them, the challenge is matching the great strides in connectivity with consistency of experience and security. Passwords remain commonplace, despite the evolution of security technology.

Homeland Security Researchers Find Security Holes In Mobile Devices

PYMNTS

Department of Homeland Security researchers have reportedly found many security vulnerabilities in mobile devices sold by U.S.-based According to the report , which cites Vincent Sritapan, a program manager at the Department of Homeland Security’ s Science and Technology Directorate, the flaws enables users “to escalate privileges and take over the device.” Researchers are expected to announce more details about the security flaw later this week.

How Open Banking Will Test Banks’ Data Security Strategies

PYMNTS

As such, data security has simultaneously emerged as a renewed focal point for the financial services market, because the more data moves and the more actors touch it, the more exposure that information has to nefarious actors. The data security risks linked to data sharing and bank-FinTech interconnectivity are complex and, in some ways, the full threat of the issue has yet to reveal itself.

Why Bank Security Is About More Than Preventing Attacks

PYMNTS

Now, security providers and financial institutions (FIs) are working to stop them from impacting banks’ assets and customers by turning to new, emerging technologies like artificial intelligence (AI) and machine learning (ML). The Future Of Omnichannel Bank Security.

Banks Turn To 3D Secure 2.0 To Fight Fraud

PYMNTS

Recent reports indicate an uptick in fraudsters targeting large FIs, and headlines surrounding security breaches and cyberattacks fill the news on a near-daily basis. Visa and Mastercard designed the 3DS protocols and provide them under the names Verified by Visa and Mastercard Secure Code.

TRENDING: Why Preventing Bank Cyberattacks Is Only Half The Omni Security Battle

PYMNTS

In the latest issue of the Omni Security And Authentication Report , PYMNTS explores how banks are working to both prevent cybercrime and deal with the aftermath of a successful attack. Around The Security And Authentication Space.

EMVCo Releases EMV Secure Remote Commerce Specifications Draft

PYMNTS

To open its EMV® Secure Remote Commerce (SRC) specification for public comment for a 45-day period, secure payments enabler EMVCo has issued a draft version of the specification called version 0.9. or its EMV 3-D Secure – SDK specification.

SmartPesa Rolls Out Android POS System; Vipps Selects Inside Secure For Payment Security

PYMNTS

Coverage includes Norway ’s Vipps selection of Inside Secure to provide security for contactless payments. In Norway, Vipps has selected Inside Secure to help secure its contactless payment capabilities, according to reports.

TRENDING: Solving Banking’s Security-Convenience Conundrum

PYMNTS

Should banks and financial institutions (FIs) focus more on giving consumers the convenience and simplicity they expect — and even demand — or instead focus more on implementing stringent security measures, potentially at the expense of user experience?

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Nationwide Study: SMB Owners Lax About IoT Security Risk

PYMNTS

And the farmer who uses drones to help monitor operations – yet may not be able (or might not know how) to take steps needed to secure his or her server – is rendered vulnerable. Security & Fraud cyber attacks IoT nationwide ransomware

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SUCI: Rethinking Card Declines, Data Security And Customer Experiences

PYMNTS

To better serve clients and help make their businesses run smoother and more efficiently, FinTech startups are tackling an array of challenges, from data security to card declines to clunky customer experiences.

Bluefin And TokenEx Partner To Expand Data Security

PYMNTS

17) that it has partnered with TokenEx for data security. Ruston Miles, chief strategy officer for Bluefin, said that via the partnership, TokenEx will be able to give clients the highest level of security and reduce the challenges of being PCI compliant.

Visa Announces Continued Support For EMV Secure Remote Commerce Specification

PYMNTS

23) that it continues to support the draft of the EMV Secure Remote Commerce (SRC) specifications. With SRC, consumer buying experiences online will be easier, faster and more secure. Visa, the payments company, announced Tuesday (Oct.

Offering Convenience Without Sacrificing Security

PYMNTS

But conducting business on connected devices is also creating new security gaps for fraudsters and other bad actors to exploit, wreaking havoc on customers and companies alike. The company exposed consumers’ full names, birthdates, addresses, Social Security numbers and even some 250,000 credit card account numbers. The problem has been forcing banks and merchants to seek out improved security and authentication capabilities to protect their customers.

NEW REPORT: Is Security Holding Omnichannel Banking Back?

PYMNTS

Omni Security and Authentication. Consumers expect to do business with their bank online seamlessly, without the hassle of complicated security checks, whether through their mobile phone, smart watch, home speaker or other connected device. Around The Security And Authentication Space.

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RBC Takes An Intelligence-Driven Approach To Bank Security

PYMNTS

We’re already using AI to analyze underlying patterns in complex market environments, and we’re enhancing client security through biometrics and fraud detection algorithms,” he said. Smarter Security. Balancing Security With Simplified Experiences.

NEW REPORT: ChowNow CEO On Securing Order-Ahead

PYMNTS

ChowNow’s Approach To Mobile Order-Ahead Security. Mobile Order Ahead airport chownow Education fraud Kount loyalty rewards Main Feature mobile apps mobile order ahead MOBILE ORDER-AHEAD TRACKER Mobile ordering News QSR Restaurants Security students Tracker Series travel

NEW DATA: Why Bank Customers Prefer Convenience Over Security

PYMNTS

Consumers prefer speed, convenience and ease of use over security — even when it comes to accessing financial services online. In comparison, only 45 percent said they would prefer an authentication method due to its tight data security.

Consumers Are Less-Than-Secure Over Payments Security

PYMNTS

How secure do you feel when it comes to payments? Two-thirds of the more than 3,000 adults surveyed said they were concerned about data security, with 38 percent of respondents believing their private information may have already been exposed. Age plays a factor in these beliefs, too: More than 70 percent of those over the age of 45 reported concerns about security versus 59 percent of those aged 18 to 24. Security is making its way to the boardroom,” Kling countered.

Tokenization's role in IoT security

Mobile Payments Today

While more connected devices is convenient for consumers as far as payments, it also opens a window for cybercrime and security breaches

Secure Payments, Generation 2.0

PYMNTS

Enter 3-D Secure 2.0. In a webinar with James Rendell, vice president of payment security at CA Technologies, and Paul Baker, vice president/senior business leader of enterprise security solutions at Mastercard, PYMNTS’ Karen Webster delved into just how 3-D Secure 2.0 The experience has to be consistent with how consumers want to conduct commerce digitally — and securely.”. CA Technologies’ Rendell noted that 3-D Secure 2.0 Two-point-oh.

NEW DATA: Why 40 Percent Of Online Consumers Want Better, Faster Data Security

PYMNTS

That’s not to say consumers don’t want top-notch security, according to the PYMNTS Digital Identity Lifestyle Capsule , a Socure collaboration. Thirty-seven percent cited data security as the reason they were satisfied with how they authenticated.

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MoneyGram CIO Talks Data Security

PYMNTS

McGurk agreed, noting why the first lesson of information security — the first consideration before one gets to technology or process — is humility. You can’t get overconfident in information security,” he said. He explained that the way MoneyGram looks at information security is to consider what is happening outside its perimeter, at the borders of its perimeter, inside its perimeter as well as what’s happening at the host level, application level and data level.

A Quantum Leap For Data Security

PYMNTS

In security, as always, time is of the essence. The emergence of a high-speed quantum internet, then, would be a way to secure the actual transmission of data, but at speeds that approach those used today via traditional methods, rendered in gigabits per second. Think of it as physics vs. algorithms, then, in a universe where the latter is secure only for some length of time, and the former is secure forever. Change sometimes comes to technology at the speed of light.

Three success factors in security operations

Insights on Business

Financial institutions are leading the charge in building security immune systems, knowing they are most threatened. They are looking for end-to-end security operations that are flexible and scalable, data-driven and applied with automated, operational accuracy.

Biometrics security isn't one-size-fits-all

Mobile Payments Today

Andrew Jamieson, the director of security & technology for the identity management & security unit at UL, writes that many technologies that would be enabled by biometrics are still vulnerable to spoofs and hacking

FitPay: Borrowing Security Across The IoT

PYMNTS

The proliferation of connected devices on the market can make securing each one a challenge. Even where security is sufficient, connected consumers have many devices, and the more they have, the more difficult it is to get all of them playing nicely together. Michael Orlando, COO, FitPay , says security across devices is one of the greatest obstacles the IoT will need to solve, and it’s something the tech startup has been working toward.

Mastercard On Why It Supports EMV Secure Remote Commerce Specification

PYMNTS

22) on why it supports EMVCo’s release of the EMV Secure Remote Commerce Specification draft , which is now available for public review and comment. is expected to define interfaces for the secure exchange of payment data and accommodate the use of dynamic data, such as cryptograms.

Matching Digital Security To Digital Services

PYMNTS

Today In Data Data Breaches data security digital security digital services News omnichannel Retail Today in DataConsumers are leading lives that are increasingly digitally mediated, particularly as their commerce lives are increasingly defined by multichannel interactions.

SEC: Some Crypto Coins Are Securities (Not Bitcoin)

PYMNTS

The Securities and Exchange Commission’s (SEC) leading authority on bitcoin, cryptocurrency and initial coin offerings (ICOs) has ruled that some well-known cryptocurrencies like bitcoin and Ethereum are not securities. However, the coins offered during initial coin offerings very likely are entirely — or mostly — securities, according to news from CNBC. As such, they can expect to come under the regulatory control of the SEC and relevant securities laws.

Mastercard Taps Security Expert To Head Up Cybersecurity Solutions

PYMNTS

In a press release , the payment company said Hunt’s role will increase Mastercard security capabilities for its credit cardholders, customers, merchant and other stakeholders. The digital security ecosystem is only as strong as its weakest link,” said Ajay Bhalla, global enterprise risk and security officer at Mastercard, announcing the appointment of Hunt. “We

Convenience Trumps Security for Consumers

PYMNTS

consumers are handling the shift to EMV-compliant POS systems, the responses revealed that consumers have little incentive to choose safe and secure payment options. In a recent survey focused on how U.S.

Intuit Secures Bitcoin Payment Patent

PYMNTS

Business software company Intuit has secured a patent for bitcoin payment processing, according to Coindesk reports on Thursday (Aug. PayPal is another company looking to secure bitcoin-related patents. The U.S. Patent and Trademark Office published the patent , which describes a method to process bitcoin payments sent via text message that includes payment amount and validation based on a virtual payer account maintained by the payment service.

Data Security: Car Edition. Really.

Credit Union Geek

Originally published on CUInsight.com When you hear “data security”, what comes to mind? The post Data Security: Car Edition. Articles all your base are belong to us auto loans car computers cars data security gps lending member safety privacy

The Perfect Secure Payments Storm

PYMNTS

The updated 3D Secure 2.0 In a recent digital discussion with Karen Webster, Michael Sass, VP Market Product Management, Security Solutions, Europe, Mastercard , and James Rendell, VP Product Management, Payment Security, CA Technologies , discussed the advantages as well as the obstacles that are still in the way. Sass says weak security challenges like passwords and knowledge-based questions (i.e. They are also far less secure than biometric alternatives.

Selling Security

Independent Banker

Security fears about online banking may be impairing your community bank’s ability to grow demand deposit accounts. Nearly two-thirds of those who do not use mobile banking cite concerns about security issues such as data interception, phone hacking, or a lost or stolen phone.

Very Good Security Raises $8.5M In Round Of Funding

PYMNTS

Very Good Security (VGS), a startup working to protect data, told TechCrunch on Tuesday (August 28) that it raised $8.5 Andreessen Horowitz partner Alex Rampell is joining the Very Good Security board as a result of the investment. When the sensitive information has to be moved or accessed, Very Good Security brings back the original information without the need for customers to change their code. Very Good Security makes money by charging per data record and operation.

TRENDING: IoT’s Big Security Fail

PYMNTS

This rapid proliferation of Intelligence of Things (IoT) devices calls for robust infrastructure that can securely accommodate the upsurge of network traffic. Securing Smart Homes.

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How can real-time payments be secured?

Mobile Payments Today

With account-based fraud on the rise, the move from standard to real-time transactions is causing significant security challenges for central banks and clearing houses

Securing Consumer Data Beyond The SSN

PYMNTS

The Social Security number (SSN) was never meant to get this much attention. In a wide-ranging discussion, Socure CEO Sunil Madhu and PYMNTS’ Karen Webster discussed the brave new world of identity security and verification, and what those terms mean when it should be assumed that all of your data has been compromised. And social presence makes a difference, offering up a layer, or layers, of defense in the battle for secure identities.

SEC Investigates Facebook Again On Data Security

PYMNTS

The Securities and Exchange Commission is once again investigating Facebook , this time looking into whether the social media giant adequately warned investors that user data might have been illegally obtained. Facebook Cambridge Analytica data security Facebook data scandal Facebook investigation News President Trump SEC social media data What's Hot

NEW REPORT: Will Biometrics Ring In A More Secure 2017?

PYMNTS

In order to keep mobile customers, payments and data safe, multiple security companies recently formed partnerships designed to bolster their mobile security. Meanwhile, similarly, FirstBank announced last month that it would turn to Entersekt to help secure its iOS app.