Content about Payment card

June 24, 2014

â–˛ Data breaches are on the rise: Mounting an attack on retail systems has become increasingly attractive to attackers because malware can be delivered at very low cost, according to Mark Bower, VP product management and solutions, Voltage Security, a Cupertino, California, provider of data-centric encryption and tokenization.

“So it becomes very attractive to attackers to try and steal credit card and personal data they can monetize very quickly,” he added.

May 13, 2014

Contactless payment card shipments accelerated globally in 2013.

Munich, Germany - Contactless payment card shipments accelerated globally in 2013. According to figures released by the Smart Payment Association (SPA), contactless technologies were present on 37% of all smart payment cards shipped in 2013.

By far the greatest increase was experienced in the Asia Pacific region, where contactless shipments grew by 193%, compared to 2012. Other regions around the globe experienced strong growth rates, ranging from 45% in the Americas to 64% in Western Europe.

April 3, 2014

Despite a slight decrease in corporate payments fraud and a heightened interest in security risks, 2013 saw an increase in fraud specific to credit and debit cards as criminals and their schemes became more sophisticated, according to the 2014 AFP Payments Fraud and Control Survey released by the Association for Financial Professionals (AFP).

Washington, D.C. -- Despite a slight decrease in corporate payments fraud and a heightened interest in security risks, 2013 saw an increase in fraud specific to credit and debit cards as criminals and their schemes became more sophisticated, according to the 2014 AFP Payments Fraud and Control Survey released by the Association for Financial Professionals (AFP).

March 4, 2014

As recent events demonstrate, the magnetic stripe-based payment cards used by the vast majority of U.S. retailers, banks, payment processors and card issuers are vulnerable to fraud. The Europay, MasterCard, Visa (EMV) standard used by the rest of the developed world stores sensitive customer data on an encrypted chip, rather than on a magnetic stripe, making payment card fraud much more difficult. Erik Vlugt, VP product marketing for electronic payment solutions vendor VeriFone Inc., recently shared insight on the advantages EMV can offer U.S.

March 4, 2014

The data security breaches at Target and Neiman Marcus have put a white-hot fire under the push for the adoption of microchip-based credit-card technology to replace the traditional (and, many would say, backward) U.S. standard of magnetic strip cards.

The data security breaches at Target and Neiman Marcus have put a white-hot fire under the push for the adoption of microchip-based credit-card technology to replace the traditional (and, many would say, backward) U.S. standard of magnetic strip cards. (The latter store unencrypted customer data on magnetic stripes.) Advocates of the chip cards, which store encrypted customer data on embedded microchips, say their use minimize the risk of data breaches at the POS.

But how exactly do chip-enabled cards work, and how much additional protection do they really offer?

February 5, 2014

John Mulligan, executive VP and CFO of Target, said the retailer is deeply sorry for its late 2013 data security breach and is aware that consumer confidence in the company is shaken; his comments came during Feb. 4 testimony before the Senate Judiciary Committee.

Minneapolis – John Mulligan, executive VP and CFO of Target, said the retailer is deeply sorry for its late 2013 data security breach and is aware that consumer confidence in the company is shaken; his comments came during Feb. 4 testimony before the Senate Judiciary Committee.

According to Reuters, Mulligan also said that Target discovered 25 registers infected with malware on Dec. 18, contradicting an earlier statement from the retailer that all malware had been removed by Dec. 15.

January 28, 2014

Major U.S. retailers including Wal-Mart Stores and Kroger reportedly already have hardware to read PIN-and-chip payment cards, which are more resilient against data breaches than the magnetic stripe payment cards commonly used by American consumers.

Bentonville, Ark. – Major U.S. retailers including Wal-Mart Stores and Kroger reportedly already have hardware to read PIN-and-chip payment cards, which are more resilient against data breaches than the magnetic stripe payment cards commonly used by American consumers. However, according to the Dallas Morning News, the hardware is largely unusable because customers do not have PIN-and-chip cards.

December 19, 2013

Target confirmed that it suffered a major data breach that may have affected as many as 40 million credit and debit card transactions at Target stores between Nov. 27 and Dec. 15.

Minneapolis – Target confirmed that it suffered a major data breach that may have affected as many as 40 million credit and debit card transactions at Target stores between Nov. 27 and Dec. 15. The retailer said the information included customer name, credit or debit card number, and the card’s expiration date and CVV (the three-digit security code).

December 10, 2010

Genesco reported on Friday a criminal intrusion into the portion of its computer network that processes payment card transactions ...

Nashville, Tenn. -- Genesco reported on Friday a criminal intrusion into the portion of its computer network that processes payment card transactions for its U.S. Journeys stores, Journeys Kidz, Shi by Journeys and Johnston & Murphy stores, and for some of its Underground Station stores.

The retailer announced that it took immediate steps to secure the affected part of its network and said it believes the intrusion has been contained.

October 31, 2008

Anything that makes shopping easier and faster for consumers is a win for retailers—and...