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Home Depot Sues MasterCard, Visa Over Chip Card Security

PYMNTS

. “Regardless of how the cardholder’s identity is confirmed, the chip makes data much more secure, rendering it almost useless to create fraudulent cards or transactions,” MasterCard spokesman Seth Eisen said in a statement on Wednesday (June 15). Home Depot’s 2014 data breach at stores in the U.S.

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At The POS Of The Future, Consumers Will Pay With Sound

PYMNTS

In 2013, Silicon Valley startup Clinkle raised $25 million in funding to build the point-of-sale (POS) system of the future using sound, but the company later changed trajectories, creating more of a Venmo-like product primarily aimed at college students. It’s as encrypted as an EMV chip card, yet can be processed in under two seconds.

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The Straight Scoop On EMV: One Year Later

PYMNTS

That was the date that lives on in payments history since it was the date that Target announced it had been the victim of a massive POS breach that exposed the card data of some 40 million consumers. Not surprising, since there are more than 700 million chip cards in circulation in the U.S. Those are the more cheerful figures.

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SumUp Brings its mPOS Technology to America

Fintech Labs Insights

Pictured: SumUp CEO Daniel Klein demonstrating his company’s platform at FinovateEurope 2013 in London. launch, SumUp will be unveiling a new EMV contactless card terminal, available for pre-order at $99. “We are focused on encouraging and supporting the adoption of EMV chip technology in the U.S. As part of its U.S.

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CardFlight Scores $4 Million in Series A Funding

Fintech Labs Insights

Last month the company announced that it’s solutions had been certified by First Data to accept EMV chip card payments. For fintech developers, CardFlight offers a fully-customizable SDK to allow them to integrate card present payment functionality to mobile apps.

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Sizzle Or Fizzle: Bitcoin Busts, Payments Get Faster And The Eyes Have It

PYMNTS

So, we all know this – chip cards were not going to fix the problem of fraud at the POS. We said this in December 2013 when Target was hacked and every other time every other POS was hacked too. Issuers may not be able to tell the difference, thus inadvertently authorizing a transaction for a card that has been stolen.

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PYMNTS’ Data Dive: Strange Bedfellows Edition — Card Networks, EMV And Retail

PYMNTS

It’s claim is that by prohibiting Walmart from insisting that its customers use a PIN when paying with a chip-enabled debit card at checkout puts both customers and the retailer at risk of security lapses. and Canada affected 56 million debit and credit cards, far more than the attack on Target customers.

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