Investment

Payment service provider EVO Payments is partnering with fraud prevention company ReD to provide integrated fraud prevention to EVO's e-commerce merchants.

As banks are moving through the "methodical process" of reproducing new cards for customers whose data may have been compromised in the recent Target data breach, they are also studying the best security options for the future, says U.S. Bancorp CEO Richard Davis.

While it is easy to vilify Target for its recent data breach, the card networks' refusal to take on real card security makes the retailer a victim along with consumers.

It's been roughly a decade since Target executives ended their attempts to convert to EMV-chip payment cards to improve security. After a massive breach of magnetic-stripe card data, it seems they have changed their minds yet again.

McAllen, Texas police have arrested two people from Monterrey, Mexico that the local cops say were in possession of fake credit cards made with information obtained from the Target data breach.

South Korea's biggest theft of personal information on credit-card holders prompted dozens of top executives at financial firms including KB Financial Group Inc. to offer to quit this week as a regulatory probe widened.

Target Corp. warned some Canadian customers that their personal data may have been compromised when hackers stole credit- and debit-card information from the discount chain's U.S. operations last year.

Seeking to improve the security of digital payments by making card data tokenization operate the same way around the world, EMVCo plans to establish new standards.

As with any new technology, mobile wallets must earn the trust of the consumers and merchants who would use them. Many mobile payment apps may attempt to beef up security with password and PIN protection, but a few have had their security scrutinized very publicly.

Danish payments manager Pensio and London-based fraud prevention provider ReD have partnered to offer a fraud screening service to Pensio's merchant clients.