Data security

A new tool developed by the federal government may put the brakes on certain counterfeit card scams during the holidays, if law enforcement agencies can replicate the results of an initial test.

The one thing payment terminal hardware makers should have been sure of this year was relatively strong demand from merchants finally upgrading to EMV-compatible equipment after the slow start last year to the U.S. chip-card migration. But that's not how it's turning out.

As one of the world’s largest e-commerce platforms, it’s natural that fraudsters would be tempted to game the Amazon system. If it could happen to an e-commerce giant like Amazon, what hope does a smaller e-commerce site have against the fraudsters who run even sneakier scams - like transaction laundering?

As the payments industry progresses through the first stage (POS terminals) of the EMV liability shift and gets closer to the second stage (ATMs), a lingering question that can be asked is: why would any card issuer not want to get certified for EMV?

The sheer amount of data created in recent years has exploded, leaving banks with a tremendous amount of data sets to mine through. Community banks need to utilize analytics to stay competitive with their big-bank peers.

Some financial companies are leery of betting on an early-stage technology such as artificial intelligence for important jobs like combating account thefts, but PayPal says it works – especially in rooting out false alarms.

As the threat of card not present (CNP) fraud continues to rise, a recent survey suggests many consumers are willing to take extra steps during a transaction to block online card fraud if their bank offered the option.

With even community banks getting hit by ransomware attacks, there's a long list of cybersecurity practices that bankers can expect their supervisors to scrutinize during upcoming exams.

CHICAGO -- In payments politics, it's difficult to imagine a topic that gets the blood flowing more than the EMV chip-card shift in the U.S.

CHICAGO -- Ask a group of consumers what's keeping them from using a mobile wallet and more than half will say it's not safe to do so.