Despite commitments by leading payment card brands to enhance security, some critics say the White House cybersecurity summit produced no specifics for how the public and private sectors will curb cyber-fraud.
The Federal Reserve on Jan. 26 revealed its roadmap for an overhaul of the U.S. payments system, which includes plans for faster settlement and a focus on improving payments security to reduce fraud.
Retailers say tokenization and encryption are critical to ensuring payment card data security. Aite's Natalie Reinelt describes how merchants will use layers of security to protect data at the point of capture.
While card issuers and payments acquirers are speeding up their EMV rollouts, Kate Larson of the Consumer Bankers Association says banks also should be implementing other technologies, including tokenization, in their efforts to fight fraud.
Home Depot says an estimated 56 million payment cards were exposed in a data breach at its U.S. and Canadian stores. The retailer says an investigation revealed the breach involved custom-built malware not used in other cyber-attacks.
What's the toughest challenge the U.S. faces when it comes to EMV? Randy Vanderhoof of the EMV Migration Forum points to getting POS software and terminals certified for EMV transactions. Find out what other hurdles he identifies.
Advanced payments technologies, such as chip cards, tokenization and end-to-end encryption, are effective at stopping card fraud at retailers, but only if they're used as part of a comprehensive threat-mitigation plan, says First Data's Paul Kleinschnitz.
Ellen Richey of Visa reviews card fraud-fighting trends for the year ahead, including the U.S.'s migration toward EMV, greater use of tokenization and heightened fraud detection.
Paul Kleinschnitz, general manager of payment processor First Data's cybersecurity solutions team, says there are plenty of technologies to address payment card security, but cyberthreat awareness is still lacking.
Ellen Richey of Visa, keynoter at the April 29 Fraud Summit San Francisco, outlines key card fraud-fighting trends for the year ahead, including the U.S.'s migration toward EMV, greater use of tokenization and heightened fraud detection.
Tech companies continue to respond to the Heartbleed vulnerability by issuing alerts and patches to mitigate potential data compromises. Learn the latest advice from Trend Micro and ICSA Labs, plus updates from Rackspace, Akamai and Bitcoin.
MasterCard and Visa have announced the formation of a cross-industry group that will work on improving U.S. payment security by advancing migration to chip cards as well as point-to-point encryption.
Encryption gaps in retail payment card transactions were highlighted at a Congressional hearing that examined security failures in the aftermath of malware attacks against point-of-sale systems at Target and Neiman Marcus.
While details surrounding a suspected breach at Michaels remain unclear, two U.S. card issuers say they believe the retailer was targeted by point-of-sale malware similar to what compromised Target and Neiman Marcus.
After payment card breaches at Target and Neiman Marcus, security experts ask why mandates for compliance with the Payment Card Industry Data Security Standard have failed to protect cardholder data.
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