Far Point Systems

Breached Card Details Threaten Privacy

lcoulter — Wed, 22 Feb 2012 17:15:27 +0000

Data breaches tied to credit and debit cards accounted for more than 25 percent of all breaches in 2011, according to a new report – a disturbing trend that puts the onus on banking institutions and merchants to bolster payment card security.

To Read More, Click Here

MasterCard Introduces U.S. Roadmap

lcoulter — Wed, 08 Feb 2012 14:49:38 +0000

As payments continue to evolve to include new devices and new channels, such as mobile and eCommerce, the roadmap takes steps to address how consumers really shop, providing them greater security and control in their payment choices and the potential to seamlessly integrate loyalty programs and offers into the purchasing experience.

For the full article: MasterCard Introduces U.S. Roadmap

Visa on EMV in the U.S.

lcoulter — Fri, 20 Jan 2012 16:36:37 +0000

The Europay, MasterCard, Visa standard, commonly used in most global markets, is coming to the U.S. The sooner issuers, acquirers and merchants initiate migrations, the better, says Stephanie Ericksen, head of authentication product integration at Visa.

Visa has set aim on April 2013 and October 2015 as EMV-adoption target dates. And the card brand has created a roadmap and guidelines to help issuers and merchants successfully launch and complete their EMV rollouts.

For Full Article: Visa on EMV in the U.S.

Can Visa sustain momentum of EMV-enabled cards?

lcoulter — Thu, 12 Jan 2012 21:51:38 +0000

Adoption cannot come soon enough, frankly. To speed thins along, Visa has crafted a three-prong strategy that provides an interesting blend of carrots and sticks aimed at getting merchants to upgrade.

Here’s the carrot: Effective October 1, 2012, Visa will launch its Technology Innovation Program (TIP) domestically. This will effectively waive PCI DSS requirements for merchants who can show that 75 percent or more of their Visa transactions originate from chip-enabled hardware. To qualify, terminals must be enabled to support both contact and contactless chip acceptance, including NFC-based mobile payments.

For Full Article: Can Visa sustain momentum of EMV-enabled cards?

EMV Case Study: Silicon Valley Bank, and Mobile Device Management

lcoulter — Thu, 27 Oct 2011 20:20:51 +0000

The U.S. explosion in card skimming will be the ultimate catalyst for change from mag stripe to chip and PIN technology. “I do believe that shift has begun,” says SVB’s Pradeep Moudgal. “Everyone wants to be in a much more secure environment.”

For Full Article : http://www.bankinfosecurity.com/articles

Biggest ID Theft Bust in History

lcoulter — Mon, 10 Oct 2011 18:09:46 +0000

The biggest ID theft bust in history is the result of equally impressive international cooperation, observers say.

On Oct. 7, the District Attorney of Queens County, N.Y., and City of New York Police announced the results of a two-year investigation that resulted in the biggest identity thief take-down in U.S. history.

For Full Article: http://www.bankinfosecurity.com/

The U.S. Move to EMV Technology

lcoulter — Tue, 04 Oct 2011 13:18:25 +0000

Building on existing near-field communication, or contactless NFC, technology is a possible step in bridging the gap between magnetic-stripe credit/debit cards and the Europay, MasterCard, Visa standard for U.S. card issuers, says Randy Vanderhoof, executive director of the Smart Card Alliance.

For Full Article: www.bankinfosecurity.asia

U.S. Bank and Chase Add to E.M.V. Chip Cards for Travelers

lcoulter — Tue, 04 Oct 2011 13:15:41 +0000

U.S. Bank is joining the small-but-growing ranks of American financial institutions offering credit cards with tiny, secure microprocessing chips that are widely used overseas. But U.S. Bank’s card, aiming for maximum flexibility, uses technology that lets the card work with three different payment systems.

EMV in the USA: A Mobile Commerce Jump Start. Who is Impacted and How?

lcoulter — Thu, 25 Aug 2011 13:34:58 +0000

Visa’s recent that announcement essentially paved the way for wide-scale implementation of both EMV and contactless acceptance in the US was expected in some respects (based upon its earlier announcement in February), and surprising in others. Depending on where you sit in the electronic payments ecosystem, it could be a real positive, negative, or neutral.

Read more: http://paymentsviews.com/2011/08/22/

Visa Rolls Out EMV Roadmap for US

lcoulter — Fri, 12 Aug 2011 16:07:45 +0000

Visa has announced plans to accelerate the migration to EMV contact and contactless chip technology in the United States. “The adoption of dual-interface chip technology will help prepare the U.S. payment infrastructure for the arrival of NFC-based mobile payments by building the necessary infrastructure to accept and process chip transactions that support either a signature or PIN at the point of sale.”