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. So, ready to hit the data surf? Counterfeit fraud has dropped by 52 percent at merchants that are using chip-enabled cards.

Chip Cards 43

Chip Cards CHIPS Data Breach Breach 43

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.

Account Takeovers 56

Account Takeovers CHIPS Chip Cards FFIEC 56

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.

EMV 43

EMV CHIPS Chip Cards Issuers 43

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.

Chip Cards 46

Chip Cards EMV CHIPS Issuers 46

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.

Online and Mobile Banking 88

Online and Mobile Banking Cross-Border Payments Cross-Border Alternative Payment Methods 88

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. 28, 2016, and April 14, 2017.

Compromise 63

Compromise Credit Cards Card Issuer CHIPS 63

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

Chip Cards 40

Chip Cards CHIPS Authentication Accreditation 40

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.

Payments 88

Payments Credit Cards Non-Bank Contactless Payments 88

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.

Enrollments 43

Enrollments Breach Fraud Detection Social Security 43

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.

Best Practices 60

Best Practices Identity Theft Online and Mobile Banking Risk 60

PYMNTS

JUNE 19, 2016

Home Depot has been a strong advocate of EMV technology since becoming a target of the wave of data heists that began with Target’s pre-Christmas 2013 attack. 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.

EMV 40

EMV CHIPS VARS Push-to-Card 40

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.

Debit Card 52

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. That, in many ways, was the quiet beginning of what is now the obvious end of the MCX mobile payments scheme.

EMV 43

EMV Mobile Payments Push-to-Card Chip Cards 43