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Covers risk taken on by issuing banks Issuing banks take on financial risks while extending credit to cardholders. This includes defaulted payments, operations risks, security breaches, and chargebacks. Debit card interchange fees are lower than that of credit cards.
If you’re playing the slots in Vegas this week, there’s a good chance they’re coming up: Biometrics; EMV chipcards; Mobile security. He pointed to the recent security breach at Yahoo, in which fraudsters stole login credentials, comprised of email addresses and passwords, for more than 22 million user accounts.
According to TechCrunch , devices called “shimmers” can now read your card number and possibly access your card’schip and obtain your PIN number. Shimmers are actually not new — the security breach has been around since 2015, but many assumed cards equipped with chips were immune to it.
Security Measures in Debit Card Payment Processing Here’s a breakdown of security measures employed in debit card payment processing: Encryption Encryption involves converting sensitive information (debit card numbers and personal details) into a coded format that is unreadable without a unique decryption key.
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