Fraud & Security

Payments and software provider SpotOn Transact LLC  acquired EmaginePOS, a vendor of point-of-sale software for restaurants and bars. Terms were not announced. Business-services provider CSG Systems International Inc. bought Forte Payment Systems Inc., an independent sales organization, for an undisclosed amount. Credit and debit card information of more than 28,000 …

P97 Networks Inc., the Houston-based company behind mobile wallets from Gulf Pay and Phillips 66, will work with data-security provider ControlScan Inc. on controls for mobile-payment services. Announced Tuesday, the deal is targeted at convenience stores and fuel retailers, quick-serve restaurants, and related merchants. Alpharetta, Ga.-based ControlScan will be tied into …

The debit interchange controls of the Durbin Amendment went into effect seven years ago Monday, and to mark the occasion the Electronic Payments Coalition issued its latest salvo in what appears to be a never-ending feud over that law. According to survey results released by the EPC, 52% of registered …

Biometric authentication may be coming into its own as a tool to aid financial institutions and payments companies in serving their customers. At financial institutions, as much as $20.75 million is saved annually using biometric authentication instead of SMS one-time password services, says Reston, Va.-based Daon Inc., a biometric-services company, …

Financial institutions, like their retailer counterparts, are feeling the effects of fraud through higher costs. For every dollar of fraud a financial institution experiences, it costs another $2.92 in associated costs, up 9% from $2.67 in 2017, says LexisNexis Risk Solutions in its 2018 True Cost of Fraud study for …

Full compliance with the Payment Card Industry data-security standard dropped in 2017 for the first time in six years, according to a report released Tuesday by Verizon Communications Inc. New York City-based Verizon’s PCI-qualified security-assessment service, one of the largest in card-related security industry, says 52.5% of the organizations it …

The payments business has become even more complicated than usual in recent years by politics, a point driven home on Friday when PayPal Holdings Inc. announced it will stop processing payments for the controversial Infowars Web site and related properties. “We do not take these actions lightly and we work …

When security managers and executives gather this week for the PCI Security Standards Council’s annual North America Community Meeting, one of the topics sure to be on their minds is point-to-point encryption (P2PE) of payment card data. The Council reported Friday that it plans to issue a new version of …

Nxt-ID Inc. announced it will spin off its payments, authentication, and credential-management assets, including its FitPay unit, into a separate and independent company. It expects to complete the transaction by Nov. 15. Michael Orlando, currently chief operating officer at Nxt-ID and president of FitPay, will become chief executive of the …

Make no mistake, criminals are unrelenting in trying to get to sensitive data. In the eight months from November through June, more than 30 billion malicious login attempts were tracked by Akamai Technologies, a Web-services company, in its 2018 State of the Internet report released Wednesday. In May and June …