Friday , March 29, 2024

Fraud & Security

From Spear Phishing to POS Malware, a Security Expert Lays Out His Six Most Worrisome Threats

Malicious attacks on payments systems come in a bewildering array of shapes and sizes, making it a nettlesome problem figuring out which types of attack require the most defensive resources. Yet, the stakes could be highest in the United States, where the average cost per breach, at $225, is one …

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GM Enables More In-Car Payments Options and other Digital Transactions News briefs from 8/8/18

Flow, a cross-border e-commerce platform, has added a cryptocurrency option through an arrangement with BitPay, a cryptocurrency exchange. Through a so-called marketplace update, General Motors Co. is enabling in-dash fuel payments in select Buick models at Exxon Mobil stations. The capability is expected to come to other GM makes, 2017 …

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Eye on Data: Site Linked to the ICBA’s Bank Leaks Data; Report Says Facebook Wants To Display Card Transactions

A Web-site glitch involving The Independent Community Bankers of America’s bank subsidiary exposed personal data about thousands of credit card applicants for more than a year, according to a report. Meanwhile, The Wall Street Journal on Monday reported that social-media titan Facebook Inc. has asked some of the nation’s largest …

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NuData’s New E-Commerce Service and other Digital Transactions News briefs from 8/2/18

USA Technologies Inc. said Pepsi Bottling Ventures (PBV) has signed a multiyear contract for USAT’s ePort Connect contactless-payment technology covering 13,000 vending machines. PBV is said to be the largest privately held bottler for Pepsi products in North America. NuData Security, a unit of Mastercard Inc., released a service to …

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Retailers’ Cost of Fraud Keeps on Rising. Now, It’s $2.94 for Every Fraud Dollar, LexisNexis Says

It’s a fact of doing business that retailers have to contend with fraud. Now, the cost of managing fraud has increased, says LexisNexis Risk Solutions in its 2018 True Cost of Fraud report for retailers. For every dollar of fraud, merchants pay $2.94, a figure that is 6% more than …

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Contactless Payments Forecast and other Digital Transactions News briefs from 7/30/18

Joe Kaplan, the chief executive of merchant processor Paya and former president of the Electronic Transactions Association’s board of directors, died unexpectedly last week, the ETA announced. Kaplan was the former CEO of Total Merchant Services and founded Innovative Merchant Solutions, which he sold to Intuit Inc. in 2003 and …

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To Fight Skimming, a Major Credit Union Servicer Adds a Cardless ATM Program

The days of dipping a card into an ATM to withdraw cash may not be as frequent for even more consumers with the announcement Wednesday that Co-Op Financial Services launched its Cardless Cash Access service. Rancho Cucamonga, Calif.-based Co-Op, a credit-union service organization, says the service can be used on …

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Apple Pay Wins Out Over Walmart Pay and other Digital Transactions News briefs from 7/18/18

Walmart shoppers who have access to Apple Pay and have a payment preference are twice as likely to use Apple Pay rather than Walmart Pay, but discounts and other deals could tip the scales back in Walmart’s favor, according to a study by Auriemma Consulting Group. Payments provider Century Business …

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What’s the Cost of a Data Breach? About $233 Per Person, a Report Finds

Maybe being number one in something isn’t always all it’s cracked up to be. For instance, the United States leads the world in the per capita cost—$233—of a data breach, finds the “2018 Cost of a Data Breach Study: Global Overview,” released Wednesday. That figure bests Canada, at $202 per …

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Bob Carr Charged With Insider Trading and other Digital Transactions News briefs from 7/10/18

The Securities and Exchange Commission filed a federal civil lawsuit Tuesday accusing former Heartland Payment Systems Inc. CEO Robert O. Carr and his girlfriend, Katherine M. Hanratty, with insider trading. Carr allegedly tipped Hanratty ahead of the December 2015 public announcement that Global Payments Inc. planned to acquire Heartland, and …

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Digital Transactions