Fraud & Security

Chip-based transactions at the point of sale totaled more than non-chip payments for the first time in 2018, just three years after the United States began in earnest to convert payment cards and point-of-sale devices to the EMV chip standard, according to the latest Federal Reserve Payments Study, released Thursday.  …

EVO Payments has agreed to enable merchants it serves in the United Kingdom and Ireland to process transactions on the Discover, Diners Club International, and affiliate card networks. Merchants served by EVO in other markets are expected to come online for Discover in 2020.Antivirus protection provider Avast said a survey it …

Bots operated by criminals did more than leave lumps of coal for merchants and consumers this holiday shopping season. During Black Friday week, criminals used mobile devices to create new accounts to mimic new customers and initiate transactions through an established and seemingly genuine account, according to LexisNexis Risk Solutions. …

Payrailz LLC, a payments provider for financial institutions, said it will pilot Mastercard Inc.’s Bill Pay Exchange, a real-time bill-payment service.Facebook Inc. and Alphabet Inc.’s Google unit claimed the first and second slots on Dashlane Inc.’s annual list of “worst password offenders” in 2019, Facebook for exposing passwords linked to “hundreds …

Upgrading gas pumps to accept EMV chip cards is a complex affair for convenience stores and gas stations that involves installing new card-reading hardware and software, testing, and certifications. Many fuel retailers are expected to miss next October’s automated fuel-dispenser liability shift, and software is proving to be one of …

LexisNexis Risk Solutions released an analysis of transactions and cyberattacks between Nov. 27 and Dec. 3 that found the average shopping cart value rejected as high risk or fraudulent was $329, or 179% higher than the value of legitimate online transactions—$118—in the period.Juniper Research’s latest report forecasts that the installed base of contactless-enabled …

Gas stations and convenience stores won’t be getting an extension of the upcoming October 2020 fuel-pump EMV liability shifts, according to a merchant trade group. Meanwhile, Visa is warning of malware-based attacks against fuel retailers that invade their point-of-sale systems.  The major networks have set next October for pumps to …

The Washington Metropolitan Area Transit Authority, which serves the area in and around the nation’s capital, plans next year to start allowing users of Apple Inc. devices to pay at fare gates with their iPhones and Watches using a virtual version of the agency’s SmarTrip card, according to The Washington Post. Android …

Over the past 10 years, regulators across the United States, Europe, APAC, and the Middle East have levied nearly $26 billion in financial penalties against financial institutions for anti-money laundering (AML), know your customer (KYC), and other sanctions-related violations. In today’s heightened regulatory climate, organizations need to be concerned with …

Mastercard Inc. on Wednesday announced it has begun its first real-world pilots for a new digital-identity system the company says has the potential to dramatically simplify payments and other interactions between consumers and government and commercial entities. Two separate pilots for the new service, which relies on mobile devices, are …