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No doubt merchants and the payments industry understand the value of removing valuable cardholder data from merchant payment systems via tokenization. Doing so, however, may complicate merchants\' data-security practices and carry costs, suggests Avivah Litan, vice president and analyst at advisory firm Gartner Inc., in a blog post. Tokenization …
Read More »Canadians Eschew Mobile Payments, For Now: Survey
Mobile payments in Canada only garner 2% of all consumer purchases, finds a study from research firm GfK. But that does not signal the low adoption rate will continue. Only 21% of Canadian shoppers, defined as those who have shopped in one of 15 product categories in the past …
Read More »How Two Payments Analysts Challenged ‘Settled’ Wisdom About EMV And Online Fraud
At trade show after trade show, and in article after article, payments-industry executives have heard for years now that the U.S. migration to chip cards on the Europay-MasterCard-Visa (EMV) standard, while protecting the point of sale from counterfeit fraud, will force fraudsters to ply their craft online. Indeed, the idea …
Read More »Data Breaches Continue To Cost Target and Home Depot a Bundle
Target Corp. reported Wednesday that expenses stemming from the big data breach it disclosed 11 months ago now total $248 million. The Home Depot Inc., meanwhile, said Tuesday that the data breach it disclosed in September cost it $28 million on a pre-tax basis in its recently ended third quarter. …
Read More »First Data Plans Update for TransArmor That Will Bring Tokens to Sellers Regardless of Acquirer Ties
First Data Corp. will update its TransArmor tokenization service in 2015 to make it platform-agnostic, while expanding the number of sales channels it is available through, says a First Data executive. Launched in 2010, TransArmor provides merchants a way to mask sensitive cardholder data by replacing them with a …
Read More »Survey Pinpoints Arizona City As Top Chargeback Location As ‘Friendly Fraud’ Continues to Plague Online Retailers
Want to know where the chargebacks are coming from? Chargebacks911 has ranked the top five U.S. cities in terms of chargeback rates, placing a ZIP code in Show Low, Ariz., with a 2.2% rate, at the top. The study of 500,000 chargebacks of e-commerce transactions made in 2013 indicates …
Read More »Smart Phone and Tablet Users Use Weak Security Measures: Report
Consumers using smart phones and tablets based on Android, iOS and Windows Mobile operating systems tend to have lax security measures in place, finds a report commissioned by authentication vendor Nok Nok Labs. Google Inc. developed Android. Apple Inc. created iOS for its mobile devices, and Microsoft Corp. owns Windows …
Read More »Visa Enhanced PCI Compliance Push Slated For Jan. 1 Start
n Card network Visa Inc. plans to eke out even better merchant compliance with the Payment Card Industry Data Security Standard with a new enforcement plan targeting the largest merchants. The program is scheduled for a Jan. 1 start. That’s according to a copy of an Oct. 21 Visa Bulletin …
Read More »With October 2015 11 Months Away, POS Terminal Exec Doubts Mass Merchant EMV Adoption
Just because merchants have until next October to install terminals capable of processing chip cards and avoid shouldering liability for counterfeit card transactions doesn’t mean most of them will have done so by that date. Many experts, and a number of merchants themselves, have made that point. But major terminal …
Read More »Verifone Expands the Availability of Point Payment Service
The newly rebranded Verifone Inc. this week made several product announcements. As the payments industry pays more attention to data security, Verifone this week said it is making its secure payment service Verifone Point available to all of the terminal maker’s direct customers and U.S. merchant acquirers and independent software …
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