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US banks join forces to fight cyber crime
Eight of the largest US banks are forming a group to tackle the growing cyber crime threat. The group includes J.P. Morgan Chase, Bank of America and Goldman Sachs, among others. While still in its early stages, the big banks expect the group members will share more information with each other about cyber crime threats, prepare comprehensive [...]
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The 2016 Debit Issuer Study: evolution of chip cards and mobile payments
The 2016 Debit Issuer Study, commissioned by PULSE, takes stock of the debit industry’s shift to chip (EMV) cards and mobile payments. As a result of the October 2015 liability shift, financial institutions have begun their chip debit card roll-out in earnest with optimism about the technology’s potential for enhancing the security of payment card [...]
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Chip and PIN hacked…again
Researchers speaking at the Black Hat conference in Las Vegas demonstrated how the Chip and PIN system has been exploited to make a cash machine give out money. Small modifications to equipment allowed attackers to intercept the systems used to authorise payments. While Chip and PIN is widely used across Europe, the US is only beginning to [...]
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Card fraud losses soar in 2015 – large rises in key European markets
FICO reveals the UK saw Europe’s largest annual jump in card fraud losses for 2015. Most of the 18% rise in losses came from online transactions, reflecting the growth in this channel, the ease of accessibility to funds and lower risk for criminals, and the theft of personal data through cybercrime. The online map, based [...]
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Wirecard partners with O2 to offer mPOS
Wirecard is working with O2 Czech Republic to offer eKasa which is a fully online, mPOS system together with credit card payment transaction services to all retailers in the Czech Republic. Wirecard will act as the acquirer that processes all payment transactions, as well as the technical service provider which enables O2 to use Wirecard’s mPOS [...]
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