Debit Cards

Faced with more stringent authentication procedures for online financial transactions, criminals are turning to call centers to commit fraud via the phone channel, according to RSA, the Security Division of EMC. Although call-center fraud still is a small percentage of total Internet fraud, it is “definitely growing,” says Joram Borenstein, …

Profits and overall transaction volumes are still growing for Visa Inc. and MasterCard Inc., but the bank card networks' latest quarterly numbers show just how severe the cutback by recession-racked credit card issuers is becoming. In fact, there are about 104 million fewer credit cards circulating in the U.S. today …

As the recession continues to batter merchants of all sizes, small and medium-size retailers are getting hit especially hard, and as a result so are the acquirers that process their card transactions. Indeed, in a development apparently never seen before, same-store sales on Visa and MasterCard for these Main Street …

A company founded by the man behind Capital One Financial Corp.'s decoupled debit program is introducing what it terms a “next-generation debit rewards” system that allows banks to provide cost-free rewards to cardholders. Under the system developed by Atlanta-based Cardlytics, merchants fund rewards that will be offered to banks' online-banking …

Nearly a year after ordering the phase-out of Wired Equivalent Privacy (WEP), a technology introduced in 1999 to protect data flowing over wireless networks, the PCI Security Standards Council this week released new guidelines for enhanced wireless security. The so-called Payment Card Industry data security standard wireless, written by the …

Canada's Interac Association debit network is teaming with France-based semiconductor manufacturer Inside Contactless in a partnership that will include a test next year that will pair PIN-based debit cards with contactless payments. But to keep transactions moving quickly, cardholders will not need to enter a PIN. The test will be …

Is MasterCard Inc. putting the kibosh on a new technology called remote key injection that makes it easier to enhance the security of point-of-sale payment terminals? That's the impression some payments executives got after reading an online Computerworld article Wednesday that said MasterCard was insisting on manual injection of security …

Verient Inc. is the startup behind SafeDebit, NYCE Payments Network LLC's effort to allow consumers to use their NYCE cards on the Internet (Digital Transactions News, July 2), but the company's ambitions go well beyond enabling debit-based e-commerce. By the end of the year, it expects to have between 3,000 …

A sweeping new report from a Canadian Senate committee recommends the federal government create a payment-system oversight board, ban percentage-based debit card interchange for three years, and permit merchants to surcharge for card transactions. Those are just some of the proposals in the report as Canada confronts many of the …

MasterCard Inc. plans to pay off its remaining $400 million settlement obligation to retailers over debit card acceptance early for a discounted $335 million, according to a filing the card network made on Thursday with the Securities and Exchange Commission. Attorneys for the retailer plaintiffs have signed on to the …