Mobile payments are more secure than online and card payments, says David Lott, a payments risk expert with the Retail Payments Risk Forum at the Federal Reserve Bank of Atlanta. But how customers use their mobile devices can dramatically affect transactional security.
The emergence of contactless chip payments on mobile phones is changing the way transactions are authenticated and secured, Jeremy King of the PCI Security Standards Council explains in this audio interview.
So, if 2016 was the year when mobile security threats finally started to materialize and mature, what can we expect to see in 2017? Tom Wills of Ontrack Advisory shares insight on the mobility threatscape and new enterprise solutions.
Mobile is quickly establishing itself as the payment channel of choice for a majority of Asians to conduct billions of mobile transactions in the coming months. As users increasingly adopt new payments platforms, including Apple Pay and Samsung Pay, cybercriminals are devising new ways to compromise with new malware...
As the U.S. ramps up its migration to EMV chip payments over the next three to five years, fraudsters will shift their attention to mobile wallets, says Al Pascual of Javelin Strategy & Research, who describes why in this video interview.
By 2019, nearly 90 million mobile wallet users will be providing a valuable stream of interchange revenue and transaction data for wallet providers. Offering a mobile wallet is a competitive move that financial institutions and issuers simply cannot ignore. But attackers have interest in mobile wallets as well, and...
The risk of cyber fraud is increasing faster than the total volume of financial transactions across the internet. In just two years, internet transactions increased by 200%, while fraud increased 178%...and that was exclusively in the mobile channel. Is fraud becoming better business than the business itself?
The...
A report on FBI Director James Comey seeking to reopen the debate over creating for law enforcement a bypass to encryption on mobile devices is among the stories featured in the latest ISMG Security Report.
The European Commission's Payment Services Directive II, or PSD2, stands to revolutionize the payment industry. In addition to driving innovation and competition, the new regulation calls for a new generation of customer security.
As the volume of financial transactions in remote channels increase, so does the...
The FFIEC has released detailed security guidance for mobile banking and payments that its examiners will now use in their assessments of financial institutions. Banking security experts offer a critique.
NPCI's new unified payment service for mobile fund transfers, which recently went live, is a leap forward in driving cashless transactions and boosting financial inclusion, but will increase challenges in ensuring seamless, secure transactions.
To boost security and eliminate the need for passwords, MasterCard plans to later this year roll out a facial biometrics app for authentication of online purchases. But some experts warn that biometrics technology is not fool-proof and should only be deployed as part of a layered authentication approach.
By spring, banks and credit unions across the U.S. are expected to start rolling out "card-free" ATMs, offering transactions that experts say will eliminate fraud losses linked to skimming, and at the same time open new doors for mobile payments.
The Indian financial sector is at the dawn of a new age of electronic payments. What are the new form factors, and how must they be secured? An expert panel discusses the evolution and its unique security challenges.
Because of the U.S. migration to EMV, 2016 is expected to be a watershed year for mobile payment adoption, says Randy Vanderhoof of the EMV Migration Forum. Now, he says, the industry should be more focused on new applications hitting the market than on the number of adopters.
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