Investment

MasterCard's Craig Vosburg is trying to improve the quality of life in cities around the world.

Some 75% of chief information officers plan to increase spending on security technology next year, with many anticipating jumps in security budgets of 20% or more.

When Netflix announced that its new U.S. subscriber count had declined 10.2% year-over-year, it blamed the "ongoing transition to chip-based credit and debit cards." And the video-streaming company may not be the only victim of this phenomenon.

The EMV standards will change card security. But what may have more impact on the bottom line is churn.

FIDO, the payments security consortium dedicated to improving authentication, has added American Express to the alliance and to its board of directors, with existing members Infineon and VASCO also joining the board.

Payment technology that comes with the EMV stamp of approval already in place may get a boost as a result of the bottleneck newer systems face in getting certified.

New York state's banking regulator reached an agreement with Société Générale to retain records from an online messaging service and issued guidance for other banks in its jurisdiction that plan to use the messaging service.

The Federal Bureau of Investigation has walked back a Public Service Announcement that urged consumers and merchants to use a PIN for EMV-chip card transactions. The new statement, posted Oct. 13 on the Internet Crime Complaint Center, clarified the use of EMV security.

IDology, an Atlanta provider of fraud-prevention and identity verification, has made an equity investment in the mobile identity authentication provider Payfone.

Merchants that sell digital goods each spend an average of $10.1 million a year on fraud-related costs — and many expect fraud and chargeback costs to rise in the coming months in the wake of the EMV chip card migration at the point of sale.