Mitigating Mobile Fraud with Secure Subscriber Enrollment

Mobile Payments Today

To streamline the enrollment process, while reducing the potential for fraud, GIACT released a new white paper, Mitigating Mobile Network Fraud with Secure Subscriber Enrollment , detailing the best practices in secure digital enrollment

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Open Banking—lessons in technology, security and APIs

Accenture

The post Open Banking—lessons in technology, security and APIs appeared first on Accenture Banking Blog. Uncategorized APIs Banking Technology Open Banking Secure Customer Authentication (SCA

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Payment security in a world going mobile

Mobile Payments Today

As a rising number of consumers use digital payments to conduct ecommerce transactions, businesses need to make sure their mobile apps are secure. Customer identity and payment information is increasingly at risk as fraud actors find new ways to compromise mobile platforms

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

Can self-service technology securely reduce COVID-19 risk?

Mobile Payments Today

Can people be sure that self-service devices are being properly maintained to reduce the risk of spread of coronavirus? Technology that allows consumers to control kiosks remotely holds an important clue

Retailers are pushing mobile apps, but not always security

Payments Source

Even before the COVID-19 pandemic forced retailers and consumers alike to consider the benefits of shopping via a mobile app, providers of shopping and loyalty apps were seeking partnerships with security vendors to deploy fraud prevention technology.

Open Banking: KPIs to track for a secure ecosystem

Accenture

The post Open Banking: KPIs to track for a secure ecosystem appeared first on Accenture Banking Blog. In this blog series, I’ve been highlighting the top key performance indicators (KPIs) that banks should be tracking to measure the success of their Open Banking initiatives.

Entersekt, Netcetera Team Up On eCommerce Payment Security

PYMNTS

The company recently announced that the software company Netcetera implemented the authentication system for Bank-Verlag, a company that makes and provides secure services for Germany’s banks. It is said that the 3-D Secure solution can be implemented in a short amount of time.

Are Security Tokens emerging from coma as INX IPO debuts?

Daily Fintech

Will Security Tokens enable scammy operators to separate dumb money from their money? Or will Security Tokens power a new wave of innovation to make the world a better place (perhaps via “digital cooperatives”). The post Are Security Tokens emerging from coma as INX IPO debuts?

Payments Providers Combat The Conflict Between Security, User Experience

PYMNTS

In financial services, demand for ease of use and security are sky-high, even for business customers. Greater Security Without Compromising UX. Financial services firms deploy more and more point security products to cover the gaps created by the expanding attack surface,” he explained.

Mitek, Lightico Team On Secure Smartphone Text Transactions

PYMNTS

Lightico, using a secure platform, can allow businesses to "collect forms, documents, eSignatures, photos and payments, consent to disclosures and verify identities instantly via text, even while the customer is on the phone," the post stated.

Global Security Officials Meet To Discuss 5G Security

PYMNTS

Representatives from a number of countries around the world – excluding Russia, China and representatives from technology giant Huawei – met to discuss the security of 5G networks as many countries prepare for deployment of the technology, according to a report by Reuters. It was meant to outline practices to create a coordinated approach to security and policy surrounding the technology. Security & Fraud 5G chinese government huawei News Security Technology What's Hot

Is No-Factor Authentication Digital Security’s Future?

PYMNTS

For a great example of an attempt at security that does much more to annoy legitimate consumers than to actually fend off fraudsters, look no further than CAPTCHA. In the past, said Xie, authentication has been rooted in an idea that must change in order to build a more secure future.

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.

Securing Faster Payments: Modernizing Account Validation

Mobile Payments Today

In 2018 alone, ACH network volume reached nearly 23 billion payments –70 payments per person in the U.S. In the 12 months ending February 2019, payment volume across the ACH network increased 7.2%, reaching over 100 million ACH payments per banking day, a first for the ACH network.

New EMV checkout standards look to create secure, frictionless environment

Mobile Payments Today

The new EMV Secure Remote Commerce specifications may provide a solution to a longstanding problem with ecommerce checkout creating friction for consumers and being vulnerable to fraud

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

Behind Mastercard’s approach to data security and privacy

Bank Innovation

Mastercard has unveiled a series of principles that underline its approach to data security and privacy. Mastercard’s principles include security and privacy, transparency and control, accountability, integrity, innovation, and social impact. […]. Artificial Intelligence Carousel Corporate Banking Customer Experience Innovation Strategy Open Banking customer data data Mastercard Security

Twitter Updates Users On Security Breach

PYMNTS

Twitter continues to inform users about its investigation into a massive security breach two weeks ago when hackers seized control of the celebrity accounts of Joe Biden, Kim Kardashian, Bill Gates and dozens of other A-listers. Since the attack, Twitter said it has limited access to internal tools and systems to ensure ongoing account security while the investigation is completed. Security & Fraud Cybersecurity FBI hack News twitter What's Hot

Why Securing The IoT Is The Next Frontier For ISPs

PYMNTS

They are places where we can put applications and connect devices,” Eva Apesteguia, director of security services customer strategy at Allot , told PYMNTS in a recent conversation. Internet of Things connected devices Featured News Hackers IOT ISPs networks News Security smart devices telcos

Coronavirus, data security changing how teachers handle classroom expenses

Payments Source

Digital payments Expense management Data security Coronavirus

Zoom To Strengthen Security For Its Paid Users

PYMNTS

Zoom , the video conferencing platform that gained popularity in classrooms of all ages amid the coronavirus pandemic, is planning to beef up security measures for people who pay for a subscription, according to a Reuters report on Friday (May 29).

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.

FICO’s Take On Debit Security

PYMNTS

Debit network PULSE recently sought to boost its security by adopting a FICO fraud detection platform that can help it quickly detect and respond to suspicious activities. Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud.

The Future Is Secure For Smart Devices

PYMNTS

Along with the growing popularity of IoT devices, from fitness wearables to smart fridges, comes increased security and privacy issues. The latest Intelligence of Things (IoT) Tracker details how these concerns are driving providers to develop new security approaches. Who’s Responsible for Smart Device Security? PYMNTS spoke with iRobot SVP and CIO Mike Tirozzi and Director of Product and Data Security Mike Gillen about keeping devices secure. “We

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

Lawmakers Eye Alternatives To Renter Security Deposits

PYMNTS

Lawmakers across multiple states are considering legislation to reconfigure the often burdensome security deposit structure that adversely affects renters of less financial means, according to the Wall Street Journal.

Can Less Digital Security Actually Be More Secure?

PYMNTS

A person’s phone number, according to Meier, can serve as a reliable path toward frictionless, secure interactions between consumers and banks, payment service providers and other organizations. The move toward new forms of ID verification comes as regulators and politicians increase their focus on data security in the wake of Equifax and other breaches. Authentication Alain Meier authentication Cognito Equifax Featured News Fraud Prevention News Online Security

Securing The Growing Digital Opportunity

PYMNTS

And email address, device data, behavioral data — all of these things are important, but security efforts that build primarily from one data stream always run the risk of that stream being compromised and rendering their efforts moot. But to make that opportunity real, it has to be reliably secure and able to move at the pace of a rapidly speeding up marketplace.

Facial recognition hardware may secure the future of mobile commerce

Mobile Payments Today

The use of facial recognition hardware in mobile devices is expected to surge in the next few years, reaching more than 800 million devices by 2024. Facial recognition software however will still dominate

5 security threats to watch in 2019

Payments Source

Cyber security Device security Mobile payments Digital paymentsAs consumers grow more attached to mobile devices for e-commerce and payments, fraudsters are intensifying their focus on handsets with new phishing, vishing to SIM-swap tricks.

Nets, KPMG collaborate on post 3D Secure security

Payments Source

Arguing more work is needed in the wake of new security protocols, Nets will team with KPMG to jointly develop machine learning-powered fraud monitoring and prevention. Security risk 3-D Secure Payment processing KPMG

SEC Proposal Would Allow Token Sales Under Current Securities Laws

PYMNTS

Securities and Exchange Commission (SEC), said that tech startups may be able to raise money using digital tokens under current law, but that there would be stipulations, according to a report by Reuters. Hester Peirce, a financial regulator at the U.S.

Security Flaws Increased For WhatsApp Last Year

PYMNTS

WhatsApp, which boasts end-to-end encryption and high-level security, disclosed 12 vulnerabilities in 2019, seven of which were described as critical, according to a report by the Financial Times. Security & Fraud Cybersecurity Facebook News Security What's Hot WhatsApp

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.