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3.2 million debit cards compromised in massive Indian ATM breach
Banks in India have been hit by a massive ATM breach and have ask users to either replace or change the security codes of as many as 3.2 million debit cards in what’s emerging as one of the biggest ever breaches of financial data in India. Of the cards, 2.6 million are said to be [...]
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Tokenization management made simple for Banks offering mobile wallets
Issuing banks can now manage tokenization activity for the ‘OEM Pay’ mobile wallets through a single software platform, simplifying and consolidating integration with the multiple token service providers (TSPs) operated by third parties. In response to the increasing complexity and fragmentation of the NFC mobile wallets ecosystem, Rambus Bell ID has launched Token Gateway. “Managing [...]
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National payment switches: navigating the complexity for economic growth
A national payment switch has become a necessity for a cashless or ‘less cash’ society. The advantages of such a switch include boosting financial inclusion, stimulating innovation, competition, growth and economic prosperity. So, how does a market best implement a national payment switch? And how does it cope with the considerations and inevitable trade-offs? It [...]
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Data suggest tourists profiting from post-Brexit plummeting pound
As the pound hits 31-year lows, UK retailers continue to take advantage of the post-Brexit climate as international consumers flock to bag a Great British Bargain. In the ten weeks following the referendum, growth in foreign card spend has increased by 5.8% compared to previous 10 week period. Whilst 6% of this growth increase was [...]
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Financial fraud in H1 2016 increased to £399.5 million
Financial fraud in H1 2016 increased by a quarter to £399.5 million, enabled by scams and online attacks, new figures published by Financial Fraud Action UK (FFA UK) show. Banks’ security systems continued to prevent the majority of fraud from taking place, with prevented fraud totalling £678.7 million, FFA UK said. This is equivalent to [...]
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