Investment

Fiserv is aiming to improve the accuracy and cost-effectiveness of biometric authentication by shipping palm-biometric kits to its customers.

The ability to browse limitless shops and purchase goods and services from almost anywhere in the world has revolutionized commerce.

MasterCard will provide tokenization technology to the Samsung Pay mobile wallet when it launches in Europe.

Financial institutions take information security concerns very seriously, but few make it a priority to keep accountholders updated on their safeguarding efforts.

MasterCard is cooperating with a European investigation into its fees, though it is questionable that this process will have a widespread effect on interchange, according to MasterCard CEO Ajay Banga.

While tokenization does represent progress, it is important to consider whether tokenization is, in fact, enough to secure online payments. There are some vulnerabilities, and as cyber thieves grow more sophisticated, companies will have to continue to innovate better security solutions, as well as ensure the ones that are on the market are being used as effectively as possible.

Bank regulators are likely to take further action to force banks to upgrade their cybersecurity processes as hackers continue to find ways to penetrate institutions’ defenses, Benjamin Lawsky, the top former New York bank supervisor, said Tuesday.

There's a classic approach behind many of the retail cyberattacks that make the news: Backoff malware, which “sniffs” the traffic that flows on a network to identify and steal credit card data passed between point of sale (POS) terminals.

Fiserv has agreed to use Fujitsu's handprint-scanning system for fraud prevention in its account-processing product.

Claims of security lapses at LifeLock and Experian call into question the value of these companies' identity theft protection services, which many banks offer to their customers.