Security Demands Spur Virtual Debit Card Adoption

PYMNTS

Businesses are also examining virtual card options that can allow employees to make company payments securely and conveniently during the pandemic. Firms are also prioritizing security as they transact online more heavily as well. Virtual Cards To Bring Greater Security To Transactions.

Companies See Work From Home As A Security Threat

PYMNTS

About 70 percent of the 500 companies surveyed said that they expected remote working during the pandemic to increase the cost of a breach; four-fifths told researchers said they expected it will take longer to notice and secure a breach.

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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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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

Trulioo: Dramatic Fraud Spike Threatens Secure Digital Future

PYMNTS

He said consumers will get impatient and abandon a transaction when they try to make a simple, relatively low-priced purchase and find themselves mired in a 25-step process that seems like a lot of incomprehensible security overkill.

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To reduce cyber fraud, banks must shatter their security silos

Accenture

The post To reduce cyber fraud, banks must shatter their security silos appeared first on Accenture Banking Blog. Uncategorized cyber securityWhen the global pandemic ends, banks should anticipate that the rate of fraud will likely have grown faster than at any other point in history.

Mastercard extends AI security tools to banks

Payments Source

Acquirers Artificial intelligence Fraud detection Data security Fraud prevention M&A MastercardMastercard has rolled out a set of AI-powered tools to thwart fraud and data breaches across banks' ecosystems, particularly to benefit acquirers’ online merchants.

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Full PCI compliance dips while security threats mount

Payments Source

It's a perplexing problem for those developing and instituting Payment Card Industry data security standards: Even as threats rise, the number of organizations that fully comply continues to drop. PCI PCI DSS Data security Payment processing

New Cloud-Based Card-Issuing System Aims To Standardize Payments Security

PYMNTS

19) announced that its Sigma Instant Desktop Issuance product will set “the standard for simple, secure and smart instant-ID solutions across enterprise, healthcare, government, higher education and financial institutions (FIs)." All the while, security is a paramount need.

How to secure finance on the front line

Accenture

The post How to secure finance on the front line appeared first on Accenture Banking Blog. Uncategorized cyber securityFinancial institutions are widely considered to have a stronghold on elite cybersecurity skills and technologies of any industry—and for good reason.

Visa pilots card-not-present security app with Michigan State University FCU

Payments Source

The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.

Car-Sharing Platform Getaround Secures $25M Loan 

PYMNTS

has secured a $25 million venture loan facility from Horizon Technology Finance Corp., a specialty finance company that provides secured loans to venture capital-backed companies. . Peer-to-peer car-sharing platform Getaround Inc.

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

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

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.

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 As I mentioned in my last post, the journey to Open Banking has been long and full of challenges for most banks in Europe.

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

PAAY Partners With Bluefin To Further Secure eCommerce Transactions

PYMNTS

Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. Founded in 2007 by Miles and John Perry, who serves as chief executive officer, Bluefin specializes in encryption and tokenization payment and data security. .

Deep Dive: Using Phone Verification And Text Messaging For Secure Checkouts

PYMNTS

Social Security Administration, for example, requires recipients using its website to provide unique eight-digit codes sent via text to their smartphones in addition to their usernames and passwords when they sign up or log in. .

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

Mastercard’s Cyber Secure Uses AI To Help Banks Fight Cyber Fraud

PYMNTS

Mastercard has unveiled its artificial intelligence (AI)-fueled Cyber Secure tool suite, which lets banks evaluate cyber risk throughout their ecosystems and stop possible breaches from occurring, according to a Friday (Oct.

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

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.

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.

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

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

Securing The New Commerce Normal

PYMNTS

For all that has changed dramatically in the last several weeks due to the coronavirus pandemic, consumers are still looking for the same two core offerings in every transaction, no matter what it is or where it takes place: seamlessness and security. No matter how new a firm is, he said, Kount likely already knows a lot about the security trends in the space the firm is in.

Remote Onboarding Boom Being Secured By Multifactor Authentication

PYMNTS

Consumers can be surprisingly finicky these days when it comes to their personal identifiable data (PII), and additional security measures can strengthen trust at a critical time like this.

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?

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

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.

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

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. Combining PSD2 -compliant authentication with cutting-edge security protocols, it “is proven to reduce shopping cart abandonment, increase the number and average value of transactions and positively impact customer loyalty, while reducing card-not-present fraud significantly,” the release said.

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. Lior Cohen, senior director of cloud security products and solutions at cybersecurity firm Fortinet , recently told PYMNTS why the digitization initiatives many payment service providers undergo in the name of better customer experience can exacerbate security risks. Greater Security Without Compromising UX.

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.