PYMNTS

OCTOBER 25, 2016

If you’re playing the slots in Vegas this week, there’s a good chance they’re coming up: Biometrics; EMV chip cards; 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.

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PYMNTS

JUNE 20, 2016

The move has been complicated by the combination of most merchants getting a very late start to the EMV process – the Target breach was what many merchants considered their official starting line despite announcements by the card networks years earlier – and a complicated certification process that’s been tough for some merchants to navigate.

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PYMNTS

JANUARY 13, 2020

The launch of EMV chip cards in the U.S. Despite their success, the use of EMV cards with no required PIN codes has left a door unlocked for crooks. Despite their success, the use of EMV cards with no required PIN codes has left a door unlocked for crooks. It’s not all good news. Consumers are hardly alone in this.

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PYMNTS

APRIL 15, 2016

The EMV certification process is a confusing one to say the least – with merchants having to decide between a myriad of choices and certification methods to figure out the type(s) of certification(s) needed to actually accept EMV-enabled chip cards and to then face the long lines of other merchants doing the same.

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PYMNTS

JUNE 6, 2016

But as we all know, it wasn’t until two-plus years after that announcement was made before the EMV catalyst hit payments: the breaches of major retailers like Target, Home Depot and Neiman Marcus. Pre-Breach Vs. Post-Breach Attitude Shift. And, at that point, that four-year timeline became compressed.

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PYMNTS

SEPTEMBER 30, 2016

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 that EMV would have cured the reason for that breach, but let’s not get bogged down with details at the start of our story.

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PYMNTS

OCTOBER 19, 2016

Some say it has to do with the EMV (chip card) implementation; others say it has to do with consumers’ insecurity about security issues. On top of that, there is the trust issue for the consumer every time a new security breach pops up. No doubt, there’s been pretty strong headwinds as far as overall adoption.

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PYMNTS

JULY 27, 2016

According to ValuePenguin, it’s likely that credit card fraud will continue to migrate online as EMV chip cards have made it harder for card-present fraud to work. But since then, reported breaches have more than doubled.

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PYMNTS

FEBRUARY 3, 2017

According to TechCrunch , devices called “shimmers” can now read your card number and possibly access your card’s chip 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. in 2016.

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PYMNTS

FEBRUARY 10, 2017

Despite the growing usage of EMV chip card technology to help safeguard payment card data at the point of sale (POS), cybercriminals are turning to devices called “shimmers” to read card numbers and possibly access a card’s chip and obtain the PIN. Old Tools, New Tricks . A large chunk of U.S.

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PYMNTS

JANUARY 30, 2017

And chip cards keep eating away at counterfeit fraud — news that might be somewhat more joy-inducing were it not also the case that data breaches hit their all-time high in 2016 as well. Counterfeit fraud has dropped by 52 percent at merchants that are using chip-enabled cards. So, good news: fewer cloned cards.

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PYMNTS

JULY 21, 2017

If a data breach is a sprint — where a fraudster grabs as much data as he or she can, as quickly as possible, in an effort to maximize ill-gotten gains — the fight against fraud is a marathon. European countries led the adoption of EMV, with 86 percent of cards and 99 percent of transactions complying with EMV rules.

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FICO

AUGUST 2, 2018

With the North American chip card deployment, fraud has migrated to “paths of least resistance”. EMV has disrupted a $4 billion industry that seeks to find a new home in application fraud, card not present fraud, and more. Want to learn why application fraud is on the rise?

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PYMNTS

DECEMBER 8, 2017

Chip-enabled transactions: Still seeing a steady march of acceptance in the United States. EMVCo says that 59 percent of card transactions are done through EMV chip cards globally. The massive data breach was discovered by Equifax on July 29th, but the company didn’t reveal the hack until 41 days later.

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PYMNTS

JUNE 19, 2017

The company believes that exposure of cardholder data that could be used to create counterfeit cards – including names, addresses, emails and Social Security numbers – was limited, but some credit card numbers may have been compromised. The breach may affect users who paid via credit card at affected Buckle store locations between Oct.

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PYMNTS

OCTOBER 24, 2016

As you close the vulnerability at one area,” such as at the physical point of sale, eliminated largely through EMV cards, that acceleration of chip card adoption in the U.S. .” “Fraud is moving almost as you would squeeze a balloon. has accelerated movement toward what he called the “weaker links.”

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PYMNTS

AUGUST 18, 2017

Card Not Present Fraud Is A Big Threat. EMV chip cards have made it more difficult and expensive for fraudsters to clone cards, so cybercriminals are focusing on channels where they don’t need to present one — namely, eCommerce. Here are a few of the top things every eTailer should know about fraud in 2017.

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The Payments Association

OCTOBER 4, 2024

Cybercriminals are constantly innovating, targeting vulnerabilities in payment systems to carry out unauthorised transactions, identity theft, and data breaches. While technologies like EMV chip cards (chip & pin), tokenisation, and biometrics have been developed to enhance security, fraudsters continue to adapt.

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PYMNTS

OCTOBER 26, 2016

But while merchants have now had more than a year to adjust to the new technology, retailers still lag behind when it comes to chip card adoption, causing frustration and confusion for consumers, even with chip-based cards decreasing counterfeit fraud by 60 percent, according to Mastercard.

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PYMNTS

SEPTEMBER 28, 2017

But in the world of identification fraud, there’s a greater sea change afoot, one that stretches farther than the impact on any one firm, or even the millions of adults targeted in the most brazen of breaches. billion in credit card charge-offs in the next year alone. The former has been around for a long time.

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PYMNTS

SEPTEMBER 30, 2019

Online clothing reseller Poshmark recently announcing that it will postpone its initial public offering (IPO) following a data breach that compromised an unknown number of consumers. Visa said that since their inception, chip cards have reduced counterfeit fraud by 87 percent. Globally, the industry loses $30.3

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Stax

FEBRUARY 28, 2024

TL;DR A payment terminal enables a merchant to take chip card and contactless payments. In simplest terms, payment terminals are the machines used to pay for things using credit or debit cards when you make a purchase in-person. Previously you would swipe your magstripe card in a payment terminal.

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PYMNTS

JANUARY 20, 2017

The latest findings of Research and Markets , titled Card-Not-Present Fraud: The Merchant Empire Strikes Back , eCommerce merchants, particularly in the U.S., are in a perfect storm of rapid online sales growth at the same time that the credit card industry is continuing to transition to EMV chip technology.

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FICO

FEBRUARY 5, 2018

However, we’ve now come full circle and are seeing a global resurgence in identity theft (as well as card not present or CNP fraud). This is primarily driven by the large rise in data breaches and the roll-out of EMV and chip cards in the United States.

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PYMNTS

AUGUST 5, 2016

So, we all know this – chip cards were not going to fix the problem of fraud at the POS. And NCR researchers at the Black Hat conference this week confirmed that story when they presented a way for the bad guys to commit fraud using chip cards. Depends on who you ask. Unencrypted POS Data.

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PYMNTS

JUNE 19, 2016

Home Depot’s 2014 data breach at stores in the U.S. and Canada affected 56 million debit and credit cards, far more than the attack on Target customers. Master Card And Visa Simplify Retailer EMV Transition. EMV migration over the last seven month – with 300 million chip cards in circulation and 1.2

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Payment Savvy

JULY 3, 2024

It replaces sensitive debit card information with a unique, randomly generated string of characters called a token. This token is used throughout the transaction process, while the actual debit card number is safely stored in a secure vault. PCI DSS Compliance This is the cornerstone of debit card security.

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Debit Card Process PCI DSS Processors 52

PYMNTS

MAY 23, 2016

MCX suffered the dual headline hit of forcing some of its merchants to essentially unplug their Apple (and Android) Pay-compliant NFC terminals, while, at the same time, suffering a minor data breach. Durbin sent to the the chip card consortium EMVCo, whose member companies are American Express, Discover, JCB, MasterCard, UnionPay and Visa.

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EMV Mobile Payments Push-to-Card Chip Cards 43

PYMNTS

FEBRUARY 6, 2018

Perhaps the last and best hope in the battle against ID fraud – the kind that brings ruin to credit reports and billions of dollars in losses to card companies and merchants. The data is out there now, more than ever before – and, as he said, all stakeholders need to be proactive in the battle.

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