The Europay, MasterCard, Visa standard, commonly used in most global markets, is coming to the U.S. The sooner issuers, acquirers and merchants initiate migrations, the better, says Stephanie Ericksen, head of authentication product integration at Visa.
A legal dispute between a small merchant in Utah and its former payments processor has fueled a debate over contracts between merchants and acquirers. If successful, this case could spur contractual shifts that change the way card brands view liability after card breaches.
U.S. and European institutions can learn from DBS Bank's example. In response to a rash of fraudulent withdrawals that cost accountholders $1 million, the bank is launching a new SMS/text alert service for ATM transactions.
Steven VanRoekel says the mobile revolution will fundamentally change the way the federal government serves the public and its employees. But in outlining the Federal Mobile Strategy, the federal CIO hardly mentions security and privacy.
Save Mart, the Modesto, Calif.-based grocery chain, now confirms that skimming devices are to blame for the data breach believed to have exposed hundreds of consumer accounts to debit and credit card fraud.