EMV

Resourceful crooks will relentlessly probe systems, processes and people until they find a weakness or an opportunity. That weakness is the magnetic strip that still exists on all EMV cards, according to Nathan Horn-Mitchem, senior vice president and chief information security officer at Provident Bank.

The card networks recently admitted what consumers have long suspected—card signatures have become worthless for authentication at the point of sale. But that's not the end of this story.

KFC is finally converting its point of sale terminals to accept EMV chip cards, opting for a semi-integrated system to accept all payment types.

There are still millions of merchants in the U.S. clinging to relic point of sale methods — and they are not easily swayed by fancy new touchscreens and mobile wallets. This means companies such as Verifone must go to greater lengths, just to meet them halfway.

As gas stations add EMV-chip card acceptance at the pump, they will also find themselves rebuilding systems for loyalty programs and special offers that were reliant on their older hardware.

Many of the same protections for mobile payments, such as tokenization and single-use keys, can come into play to protect in-car payments, according to Jim Carroll, chief technology officer at Mobica.

Banks and cardholders will be able to verify purchases, increase credit limit, add cards immediately, provide feedback to retailers, receive on-demand coupons, or upgrade card benefits.

NMI, which provides payments gateway services for resellers of payment services, has purchased U.K.-based Creditcall to expand its EMV and contactless capabilities so it can support retail, e-commerce, mobile and unattended payments through a single platform.

There’s a widely held belief that clamping down on fraud in one area will lead to it popping up somewhere else. There is some truth to this — fraudsters favor the points of least resistance. But there are also major exceptions.

There are still regions where contactless and EMV cards are slow to roll out, and Mastercard is working to bring these markets up to speed so that they are ready for future innovations.

In recent weeks three surveys have been released that assess the U.S. fraud landscape across all of these audiences. These reports provide a holistic snapshot of where payments fraud in the U.S. is today.

Despite some declines, payments fraud remains a major concern for credit unions. Here's how experts suggest tackling the problem.

One New Jersey credit union is starting 2018 with an unexpected crash course in fraud prevention, but there may only be so much anyone can do to curtail the problem.

There are a number of tactics and solutions organizations can employ to shut down the favored methods of fraudsters, including the use of bots and device compromise, writes Michael Lynch, chief strategy officer at InAuth.

Most U.S. merchants faced a 2015 deadline for EMV compliance, but gas stations have until 2020. Those extra years bring with them an assortment of new technology that can fundamentally change the ways motorists fuel up.

Seeking a way to facilitate higher-value contactless transactions, the Bank of Cyprus plans to issue an EMV card deploying biometric authentication to replace a PIN code.

Some of the most important work in payments happens before the transaction, when retailers have to make sure their devices can handle the new technologies and card types that are about to get thrust upon them.

Gemalto’s business boomed a couple of years ago at the peak of the U.S. EMV migration, but when new card orders tapered off and payments technology turned in new directions, the company’s profits got hammered.

Atos SE made a 4.3-billion-euro ($5.06 billion) unsolicited bid for Gemalto NV with the backing of the French state’s investment bank, seeking to create a European leader in cybersecurity, digital technologies and payment services.

Discover's shift starts in April 2018. Mastercard has also eliminated signatures for credit and debit card transactions.