Global survey: domestic schemes shifting focus to new digital payments services
The results of a research by CC Associates, Consorzio BANCOMAT® and SIA carried out amongst 25 domestic card schemes from 5 continents on today’s challenges and opportunities.
EBA to relax controversial PSD2 authentication rules
The European Banking Authority is to relax proposed rules on a requirement for strong customer authentication for all payments under EUR10, after being on the receiving end of a volley of complaints from industry participants who claimed that the mandate would lead to more declined transactions and abandoned purchases at the checkout.
IBM and Visa join forces to turn billions of connected devices into points of sale
IBM has struck a deal with Visa which will give all of Big Blue's Watson IoT platform customers access to the card giant's payment services, potentially turning billions of cars, fridges, sneakers and other connected devices into points of sale.
94% of Financial Services Executives Believe Boards have Bought into Blockchain, Synechron survey shows
Synechron Inc., the digital, business consulting and technology services provider, today reveals 89% of senior executives questioned in a survey conducted by TABB Group believe blockchain will be in everyday use in the financial services industry by 2026. The results suggest that despite various levels of action on blockchain initiatives, the majority of financial services organizations believe in the long-term, innovative potential of blockchain and are merely calculating how to take action factoring in business unit, use case and resources to achieve maximum business value.
Hitachi outed as source of Indian ATM malware infection
Hitachi Payment Systems has admitted culpability for a breach of its ATM network in India that spawned a massive recall of debit cards by the nation's banks.
Global cost of card fraud increases 29% to $40bn
Oakhall, the London-based analysis firm, estimates that the cost of card fraud for the card industry increased 29% to $40.1bn in 2015 (2014: $31bn). This was primarily driven by the continuing rise in card use, a higher proportion of online shopping and the growing sophistication of fraud criminals. The study was published in conjunction with Featurespace, the global leader in machine learning adaptive behavioural analytics fraud prevention software. For the full study see the Cost of Card Fraud Report.
42% of global transactions now EMV-compliant - EMVCo
Technical body EMVCo today publishes transaction data that reflects year-on-year growth in the number of contact and contactless card-present payments using EMV® chip technology.
Tesco Bank left itself vulnerable to fraud by using sequential card numbers - FT
Tesco Bank may have left itself open to fraud by issuing debit cards with sequential numbers, according to a report by the FT.
