Hackers hit Oracle Micros POS unit
Oracle is warning users of its Micros POS payments technology of a data breach which saw malicious code installed on its systems.
American Express updates fraud rules to limit EMV chargebacks
In an effort to promote further adoption of EMV in the U.S., American Express (AXP) today announced changes to its EMV chargeback policy to help merchants limit their fraud costs as they upgrade their point-of-sale systems.
Credit card fraud ring bust sees 105 arrests
Cops in Europe and Malaysia have arrested 105 people accused of participation in a massive organised criminal enterprise that made counterfeit credit cards that were used to buy high-value goods worth millions of euros.
Machine learning fraud detection systems could save card issuers and banks $12 billion annually
Adaptive behavioural analytics software reduces 'genuine transactions declined' by over 70% and incidence of undetected fraud by 25%.
Indian digital payments market to hit $500bn by 2020 - Google
India is set for a digital payments revolution, with the value of transactions set to hit US$500 billion by 2020, ten times its current level, according to research from Google and the Boston Consulting Group (BCG).
MasterCard Sees Continued Momentum in U.S. EMV Adoption
March 31, 2016 - Americans are quickly embracing EMV chip cards, just six months after the latest milestone in the migration timeline. While consumers increasingly dip their cards to pay in-store, progress has been made by both card issuers and merchants.
EMVCo Updates Payment Tokenisation Specification to Introduce 'Payment Account Reference'
March 29, 2016 - Global technical body EMVCo has released a bulletin updating the EMV® Payment Tokenisation Specification – Technical Framework to provide the payment community with a global, consistent framework to implement 'Payment Account Reference' (PAR). To be used by merchants, acquirers and payment processors, PAR can enhance security by limiting references to a cardholder's primary account number (PAN) in the payment ecosystem.
AmEx warns card members of merchant data breach
March 17, 2016 - American Express is writing to some card members warning that their account information has been compromised by a data breach at a third party provider.
