Investment

Capital One's new Capital One Wallet is a cardholder app for Apple's devices that uses an Android-like pattern-recognition feature for authentication.

We usually think of card fraud as hurting just the merchant who accepts the card, but when one merchant accepts payment from a stolen card it hurts other merchants.

The data breach affecting 216 of Jimmy John's restaurant locations had, at its source, an increasingly common exploit: remote-access passwords.

Even though the U.S. has suffered a flood of retail data breaches, the payments industry has to take a global view of any security measures it adopts.

The payments industry has turned its attention inward, focusing on securing its own technology from fraudsters without driving off their customers.

Apple, Samsung, PayPal, Square, Google Wallet among others along with countless financial institutions and retailers are fiercely marketing their applications to enable mobile payments.

Jimmy John's, a sandwich-shop chain based in Champaign, Illinois, said a hacker infiltrated payment systems at about 216 of its locations and stole credit- and debit-card information.

Fifty-two percent of millennial respondents in a Zogby Analytics survey sponsored by Mitek Systems, a mobile imaging tech provider, perceive native apps as a safer solution than mobile websites for purchasing and banking.

News of a data breach at Home Depot stores throughout the U.S. and Canada is compounding fears on the part of card holders that “big box” and other retailers can do little to protect them from credit and debit card fraud.

The payments industry has changed dramatically over the past year, and so has the mindset of those in the industry. The focus is shifting from mobile payments and Bitcoin to fraud mitigation and security.