PCI COMPLIANT—BUT SO WHAT?
Hannaford Bros. executives thought they were good to go after being certified PCI compliant in February, but they were wrong. About 4.2 million credit and debit card numbers were pinched from Hannaford, yielding an estimated 1,800 cases of fraud. It is believed that this is the first time a PCI-compliant merchant has fallen victim to a hack. The U.S. Secret Service is investigating the case.
YOUR PIGGY BANK HAS GONE VIRTUAL
Want to save money to get a Plasma TV? A virtual piggy bank may be the answer. A new Web site, SmartyPig, proclaims itself a “21st century piggy bank.” It allows users to pick a monthly contribution that is automatically deducted from their checking accounts in order to save for a specific purchase. If made public, the user’s family and friends can contribute to the cause. Just what banks need these days, a new kind of rival savings account.
PAY BY TOUCH DEALT A LOSING HAND
Solidus Networks was once touted as the company that would take over the world with biometric payments. Now, more than five years later, it’s out of the game. In December, the San Francisco-based company filed for Chapter 11 bankruptcy protection and was forced to shutter its biometric payments network, which ran under the name Pay By Touch. Shoppers fingerprint data was linked to the customer’s checking or credit card account.
