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Card Fraud

Welcome to the News View for "Card Fraud".

Here, on these archive pages, you'll find all of the articles on Payments News for Card Fraud listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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July 22, 2014

Headline News from PaymentsNews.com - July 22, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

July 09, 2014

Headline News from PaymentsNews.com - July 9, 2014

On the Web:

  • Braintree's Reverse Takeover Of PayPal Begins - ReadWrite (Owen Thomas) - "The most interesting aspect of v.zero, compared to previous versions, is that it has support for PayPal built in, and makes it trivially easy for developers to add PayPal as a payment method."
  • Braintree v.zero SDK – faster integration, drop-in UI, and Pay with PayPal - Braintree Payments Blog - "Today, we’re releasing the Braintree v.zero SDK, the new foundation for accepting payments with Braintree. It enables slick buying experiences, offers customizable drop-in UI features across platforms, and for the first time enables Pay with PayPal."
  • The Global Bitcoin Opportunity: Why Index is Backing Xapo - Index Ventures Blog (Mike Volpi) - "We’re excited to back Wences and his team as they continue to build on their global dominance in the Bitcoin vault market. In the months to come, we’ll see a lot of innovation in Bitcoin storage and transactions from Xapo, and we’re thrilled to support the development of the Bitcoin universe."
  • The Next Big Thing You Missed: Startup’s Plan to Remake Banks and Replace Credit Cards Just Might Work - Wired - "After raising $45 million in venture funding, Affirm recently launched a new service called Split Pay, which lets customers pay for online purchases in installments, instead of upfront."
  • Copay (beta), An Open Source Multisig Wallet - BitPay Blog - "BitPay is pleased to announce Copay, an open source, multi-signature wallet. Copay was born out of our own need to securely store Bitcoins and we felt it needed to be shared. We believe that multi-signature technology will play an important role in helping people secure their bitcoins against loss or theft."
  • Mobile E-Commerce Hits All-Time High: New Custora E-Commerce Pulse Report - Custora Blog - "In the past four years, the mobile e-commerce market grew 19-fold: From $2.2 billion in 2010 to $42.8 billion in 2013. This represents 1875% growth over these four years, and 111% 4-year CAGR (Compound Annual Growth Rate)."
  • New approaches to anomaly detection - O'Reilly Radar (Ellen Friedman) - "Windowing and sparse coding, a simplified form of deep learning, provide a way to deal with complex repetitive patterns when you need to build a model to accurately predict them."
  • Bitcoin Foundation Hires Firm to Lobby Congress on Cryptocurrencies - CoinDesk - "The Bitcoin Foundation is stepping up its US lobbying efforts by hiring Washington, DC-based firm Thorsen French Advocacy."
  • How One Law Firm is Helping Bitcoin Startups Find Success - CoinDesk - "Perkins Coie currently represents between 40-50 bitcoin companies, a number driven by the firm’s relatively long experience and network of contacts in Silicon Valley."
  • Signals from Foo Camp 2014 - O'Reilly Radar (Mac Slocum) - "Foo Camp, our annual gathering in Sebastopol, Calif., brings together people we know and admire, and those we’d like to know better."
  • PunchClock: Fun With iBeacons - Panic Blog - "With this new technology in-hand, it wasn’t too long before I put together a brand new office In/Out tracker called PunchClock. It uses a combination of a geo-fence and iBeacon tracking..."

On the Wires:

  • Michael Walsh Joins Warburg Pincus as Industry Advisor - Mr. Walsh commented, "The payments industry is dynamic and ever changing so now is the ideal time to collaborate with Warburg Pincus and identify the companies and entrepreneurs who are shaping the future of the industry. I look forward to partnering with the firm to build on its track record of investing in this critical area of TMT.”
  • Hasso Plattner Ventures increases iZettle Series C to 45M Euro ($61M) - "Hasso Plattner Ventures joins in investing in the Series C round of funding, which was led in May by London based growth investor Zouk Capital with participation from Dawn Capital and Intel Capital, and Series A and B investors Greylock Partners, Index Ventures, Northzone, Creandum and the Nordic financial services group SEB."
  • First Data Launches PayLucky™ Solutions - “First Data exists to help our clients grow their businesses and what the gaming industry needs to grow, and serve their customers better, is a dynamic one-stop-shop for the widest variety of payment options that include debit, credit, check, mobile, loyalty and prepaid processing” said Jonathon O’Connor, general manager, Online Gambling and Alternative Markets.
  • MasterCard and Silicon Valley Bank Continue Commitment to Startup Success with Commerce.Innovated. - “Our aim is to increase our client’s probability of success, help them navigate their growth, and connect with potential partners to achieve their ambitious goals. This program is a perfect example of that and we’re looking forward to meeting the new applicants,” said Reetika Grewal, head of Silicon Valley Bank’s payments strategy.
  • mopay Signs Global Carrier Billing Contract with Leading China Mobile Gaming Company Chukong Technologies - Ingo Lippert, mopay CEO, said, “Chukong is one of the top go-to partners for global developers who want to publish in the Asia-Pacific region. Our mopay team takes great pride in being the carrier billing partner of choice for one of Asia’s most innovative and successful mobile apps companies.”
  • Beepi Becomes First Peer-to-Peer Marketplace to Accept Bitcoin Payments for Cars - “Integrating with bitcoin is a natural extension of our promise to deliver the easiest way to purchase a car in the 21st century.”

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

July 07, 2014

Headline News from PaymentsNews.com - July 7, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

July 01, 2014

Headline News from PaymentsNews.com - July 1, 2014

On the Web:

On the Wires:

  • MasterCard and Borderfree Team Up to Bring Exclusive Savings at Top U.S. Retailers - David Chan, Senior Vice President and Group Head, Market Development, South East Asia, MasterCard, said: “In an increasingly globalized world, consumers have a growing desire for the products and brands that these international online merchants carry. Through our partnership with Borderfree, we are able to provide MasterCard cardholders savings on shipping costs and an enhanced global shopping experience that is smooth, simple and most importantly secure.”
  • 1-800-FLOWERS.COM Partners with Coinbase to Accept Bitcoin - "Beginning this fall, 1-800-FLOWERS will be adding bitcoin as a payment option across its extensive family of gifting sites, including 1-800-FLOWERS.COM, FannieMay.com, Cheryl’s.com, ThePopcornFactory.com, 1-800-Baskets.com, FruitBouquets.com, and Stockyards.com."
  • Hold the Phone: U.S. Consumers Wouldn’t Last One Day Without Access to Their Smartphone - "Almost one in two (47 percent) U.S. consumers admit they wouldn’t last a day without their smartphone, and many consider their devices more important than daily staples such as coffee and television, according to a new report released today by Bank of America. Of those who use their phones for banking, almost one-third (31 percent) say they log on at least once a day, and four out of five (82 percent) access their accounts at least once a week or more."
  • State Bank of India Launches New Digital Online and Self-Service Banking Solutions with Support from Accenture - “InTouch is the start of SBI’s Digital journey,” said S K Mishra, deputy managing director, State Bank of India. “This is our attempt to put our brand in touch with the dreams of the aspirational customer. It’s a deep rooted transformation that has three aspects: a transformation of the customer experience we deliver; introduction of device centric technology that is at the forefront of our global peers; and transformation of the behavioral model of our staff-base to be even more customer centric.”

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

June 24, 2014

Who’s a Better Fraud Investigator — You or Your Bank?

GP Logo Horizontal 140pxOver on PaymentsView.com, Glenbrook's Jay DeWitt writes about a quick survey he's conducting:

We often get interesting questions about payments, and the latest one stumped us: “How many credit and debit fraudulent uses are first detected by the bank? By the customer?"

Please participate by taking the survey here!

June 19, 2014

Headline News from PaymentsNews.com - June 19, 2014

On the Web:

On the Wires:

  • First Data Announces $3.5 Billion Private Placement Led By KKR - "The private placement follows the first year of leadership under Chairman and CEO Frank Bisignano, during which the management team of First Data has implemented a comprehensive shift in the company’s vision for the future, corporate culture and client focus, transforming it from a payments processor to a collaborative solutions provider that partners with clients of all sizes."
  • TransUnion Analysis Finds Reporting of Rental Payments Could Benefit Renters in Just One Month - "A new TransUnion analysis found that the reporting of rental payment information to the credit bureaus in a manner similar to other financial obligations could have a positive effect for the majority of subprime consumers' credit."
  • VeriFone Welcomes Karen Austin to Board of Directors - "After joining PG&E as CIO in 2011, where she oversees and directs IT systems and cyber security initiatives that support all of PG&E’s customer touch points, Austin transformed the enterprise into a more nimble and innovative company that leveraged and digitized big data to enhance energy management for both the utility and its customers."
  • FleetCor Awarded Private Label Commercial Card Program Contract with Kwik Trip - "Under the terms of this agreement, FleetCor will partner with Kwik Trip to launch and manage both a Kwik Trip Extended Network Fleet Card and a Kwik Trip Universal Fleet Card."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

June 18, 2014

Headline News from PaymentsNews.com - June 18, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

May 30, 2014

Headline News from PaymentsNews.com - May 30, 2014

On the Web:

  • Mobile Payments: Merchants' Perspectives - Federal Reserve Bank of Kansas City - "In the Second Quarter Economic Review, Fumiko Hayashi and Terri Bradford examine merchants' mobile payments preferences and find some attributes of mobile payments, such as an enhanced customer experience, have clear beneficial effects."
  • Dwolla boss goes after $13.1 billion paycheck industry, opens mind to bitcoin - "“My primary gripe with the system is that we have the technology for banks to talk to one another in real time, but for whatever reason, when I went out to try to use it, no one had built it..."
  • Thieves Planted Malware to Hack ATMs - Krebs on Security - "A recent ATM skimming attack in which thieves used a specialized device to physically insert malicious software into a cash machine may be a harbinger of more sophisticated scams to come."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

May 28, 2014

MasterCard Strengthens U.S. Cardholder Security

MasterCard logo 140pxMasterCard has announced new enhancements intended to provide its U.S. cardholders with greater protection from fraud and identity theft.

All MasterCard credit, debit, prepaid and small business cards issued in the U.S. will now carry Identity Theft Resolution assistance. MasterCard says its new program will provide help in canceling missing cards and alerting credit reporting agencies, as well as targeting searches to detect if stolen personal and confidential data appears online. The new Identity Theft coverage extension begins in July 2014.

MasterCard is also extending its zero liability policy in the U.S. to include all MasterCard PIN-based and ATM transactions. This is in addition to coverage already provided on signature debit and credit transactions. The Zero Liability coverage extension takes effect in October 2014.

“Fraud prevention and detection is a 24/7 job at MasterCard. The changes that we’re making in cardholder protection combined with our efforts to move the U.S. payments industry to EMV chip technology will help deliver safer shopping experiences to consumers,” said Chris McWilton, president, North American Markets for MasterCard.

MasterCard noted that tanks and financial institutions issuing MasterCard-branded cards provide financial indemnity against fraud.

May 22, 2014

Headline News from PaymentsNews.com - May 22, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

May 02, 2014

Headline News from PaymentsNews.com - May 2, 2014

On the Web:

  • Bitcoin and the Dólar Blue in Argentina - Medium (James Downer) - ..."Bitcoin won’t change the world overnight, but it has a distinct adoption advantage in certain sectors. The black market in Argentina may well just be one such area..."
  • Walgreens launches iBeacon pilot to bolster coupon personalization - Mobile Commerce Daily - "The iBeacon technology is being used as part of a bigger in-store mobile coupon initiative that lets consumers digitally clip coupons and redeem them via a bar code on a smartphone."
  • New Ways to #Authenticate Card-Not-Present Transactions - TMG Blog - "Unlike EMV, however, tokenization is a technology that is nearly invisible to the cardholder. Think of it like fraud-prevention strategies in the background of a portfolio – it’s another layer of security running completely behind-the-scenes."

On the Wires:

  • No press releases worth covering! Have a great weekend!

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 30, 2014

Headline News from PaymentsNews.com - April 30, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 24, 2014

Headline News from PaymentsNews.com - April 24, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 23, 2014

Headline News from PaymentsNews.com - April 23, 2014

On the Web:

  • SATOSHI'S REVOLUTION: How The Creator Of Bitcoin May Have Stumbled Onto Something Much, Much Bigger - Business Insider - ""For the first time, two people can exchange a piece of digital property, without any prior relationship, and in a secure way, over the Internet," Jeff Garzik, one of Bitcoin's core developers..."
  • Africa’s Tech Edge - The Atlantic - "How the continent's many obstacles, from widespread poverty to failed states, allowed African entrepreneurs to beat the West at reinventing money for the mobile age..."
  • It's Time for the Industry to Embrace Phased-In, Same-Day ACH - American Banker BankThink (Pat Thelen) - "As an industry, we're at a crossroads on whether to evolve or be left behind. If we choose not to evolve, we risk becoming irrelevant."
  • Beyond their breach - BillGuard Blog - "At this point, we might as well walk around with our credit card numbers plastered on our foreheads."
  • The Mobile Security Journey at Wells Fargo - Bank Systems & Technology - "With mobile adoption growing so fast and providing a constant touchpoint with customers (Wells’ mobile customers log in an average of 13 times each day), embedding security, without hurting the customer experience, is a top priority for the bank, Ajami shares."

On the Wires:

  • IDC Financial Insights Unveils Results from 2014 Consumer Payments Survey - "After several years of growth, the market for 'alternative' payment methods is now entering a period where adoption gains may come more slowly and where simply providing an alternative isn't enough. Instead, providers need to offer products that add value beyond the payment," said James Wester, practice director for Worldwide Payment Strategies and the author of the report.
  • Domino's Pizza® Now Accepting Payment via Google Wallet - "Google Wallet is a great technology that allows customers even more flexibility and convenience when it comes to paying for their Domino's orders."
  • Digital River Extends Its SMB Payments Solution to U.K. Merchants - "The solution offers small and medium enterprises, commerce providers, systems integrators and developers turn-key access to credit card processing capabilities for Visa, MasterCard and Maestro cards in Euros and Pound Sterling."
  • 2Checkout Appoints Shawn Budde as CEO - "Mr. Budde has more than 25 years of experience in the finance industry including executive roles at Citibank and Capital One; data analytics experience at Sears Holdings; and as co-founder and President at ZestFinance, a VC-backed technology company."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 09, 2014

Headline News from PaymentsNews.com - April 9, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 08, 2014

Headline News from PaymentsNews.com - April 8, 2014

New on PaymentsJobs.com:

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 03, 2014

Headline News from PaymentsNews.com - April 3, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 02, 2014

Headline News from PaymentsNews.com - April 2, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 01, 2014

Headline News from PaymentsNews.com - April 1, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 31, 2014

Headline News from PaymentsNews.com - March 31, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 26, 2014

Headline News from PaymentsNews.com - March 26, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 14, 2014

Headline News from PaymentsNews.com - March 14, 2014

On the Web:

  • Accidental disruption: Max Levchin discusses how close PayPal was to never existing at all! - PandoDaily - "It’s often said that it’s better to be lucky than good. Fortunately for PayPal, Levchin, Thiel, and the company’s other early execs were both lucky and good."
  • Consumers Not Powerless in the Face of Card Fraud - New York Times - "The United States is such a fraud-friendly country in part because we still use old-fashioned magnetic stripes on the back of our cards. This makes it relatively easy for thieves to make counterfeit ones."
  • Xapo Raises $20 Million To Bury Your Bitcoin Underground - TechCrunch - "The wallet, said Wences, works like a checking account while the vault works like a savings account. They have no intention of ever becoming an exchange."
  • Wearing Apple - furbo.org (Craig Hockenberry) - "But the biggest feature of all would be that this wearable device could support iBeacon."
  • China Suspends Two Forms of Smartphone Payments - Wall St. Journal - "A People's Bank of China official who declined to be named said the bank issued a directive Thursday ordering the suspension of online payments using QR codes and virtual credit cards in smartphone payment systems."
  • Introducing Myself - Bitcoin Foundation (Jim Harper, Global Policy Counsel) - "To that end—prioritizing—I have already begun a study of the risks that Bitcoin faces and their severity, how to address them and, when possible, how to measure success or failure."
  • Buffett: ‘Stay Away’ From Bitcoin - Wall St. Journal MoneyBeat - He called it “a very effective way” of transmitting money, but said that “a check is a way of transmitting money, too.”

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 13, 2014

Headline News from PaymentsNews.com - March 13, 2014

On the Web:

  • Introducing Xapo - Xapo Blog - "At Xapo, we understand that Bitcoin’s ultimate success will be based on trust – both in the currency itself and in the industry’s security and service providers."
  • Building the Fort Knox for Bitcoin - wall St. Journal - "A Silicon Valley startup called Xapo is among a handful of young companies trying to become the Fort Knox of bitcoin, building secret bank vaults deep in the earth that would safely store millions of dollars worth of bitcoin code on computer drives."
  • New York BitLicense Order - Virtual Currency Report - "While the latest NYDFS statements leave a lot of unanswered questions and do not provide a clear path forward for virtual currency firms, it appears on balance to be a step forward for those virtual currency exchanges seeking licensure in New York."
  • Missed Alarms and 40 Million Stolen Credit Card Numbers: How Target Blew It - Bloomberg BusinessWeek - "The biggest retail hack in U.S. history wasn’t particularly inventive, nor did it appear destined for success."
  • What is Apple’s commerce and payments strategy? - Mobile Commerce Daily (Tim Dunn) - "The stars are aligning for Apple to make a dynamic move into the commerce and payments space."
  • Bank of England: Digital Currencies are Similar to Commodities - CoinDesk - "“Digital currencies are not at present widely used as a medium of exchange. Instead, their popularity largely derives from their ability to serve as an asset class..."
  • Flypay Raises £1M To Make Settling Your Restaurant Bill “Waiter-Free” - TechCrunch - "Aiming to get the time it takes to ask for and settle a restaurant bill down from an average of ten minutes to closer to a minute, you simply scan an on-table QR code/NFC tag to first recall the bill."
  • How Real Is Loyalty and Rewards Fraud? - "The threat of fraud to rewards programs is real, and financial institutions and retailers must be cautioned about relaxing their guards just because a surge in fraud has yet to occur."

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 07, 2014

MasterCard, Visa Launch Cross-Industry Effort to Accelerate Payment Security

Visa150MasterCard LogoMasterCard and Visa have announced the formation of a new cross-industry group focused on enhancing payment system security to keep pace with the expectations of consumers, retailers and financial institutions. The companies say that the group "will initially focus on the adoption of EMV chip technology in the United States, in addition to addressing other security-related topics, including tokenization, point-to-point encryption and broader needs of the region."

“One of the critical roles we play is to protect consumers and businesses against criminals and fraudsters,” said Chris McWilton, president of North American Markets, MasterCard.

"Only through industry collaboration and cooperation will we address the real and immediate issue of security and maintain consumer confidence and trust. EMV will be the next step in these efforts, alongside enhanced security solutions for online and mobile channels.”

This new group will include a diverse group of participants in the payments systems including --- banks of all sizes, credit unions, acquirers, retailers, point-of-sale device manufacturers and industry trade groups. The formation of the group is a public recognition of the importance of all parties to work together and will ensure all voices can contribute to the strategic direction of payment security.

The recent high-profile breaches have served as a catalyst for much needed collaboration between the retail and financial services industry on the issue of payment security,” said Ryan McInerney, president, Visa Inc.

“As we have long said, no one industry or technology can solve the issue of payment system fraud on its own. These conversations will serve as a useful forum to share ideas, break down barriers and spur the adoption of next generation security solutions for the benefit of all.”

With a priority on delivering meaningful solutions that benefit consumers, merchants and financial institutions of all sizes, this group will focus on a broad range of security-related topics, including:

  • Advancing the migration to EMV in the United States. Chip technology generates a unique code for every transaction, making it nearly impossible for criminals to use the card for counterfeit fraud.
  • Promoting additional security solutions like tokenization and point to point encryption. While EMV addresses the physical point of sale, the need to protect mobile and online transactions is critical. In tokenization, the traditional account number will be replaced with a unique digital payment code, providing an additional layer of security.
  • Developing an actionable roadmap for securing the future across all segments of the payments industry.

MasterCard and Visa expect this group will complement and engage with other efforts across the industry, including proprietary risk councils, EMV task forces and the standard management bodies.

Headline News from PaymentsNews.com - March 7, 2014

On Twitter:

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 04, 2014

Headline News from PaymentsNews.com - March 4, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 03, 2014

Headline News from PaymentsNews.com - March 3, 2014

Glenbrook's Payments Insight Workshop series this spring focuses on three key topics for payments professionals: Bitcoin - Basics and Beyond (March 26), Data in Payments (April 22) and Innovation in Payments (May 8).

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 28, 2014

Headline News from PaymentsNews.com - February 28, 2014

Glenbrook's Payments Insight Workshop series this spring focuses on three key topics for payments professionals: Bitcoin - Basics and Beyond (March 26), Data in Payments (April 22) and Innovation in Payments (May 8).

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 27, 2014

Visa Introduces Prepaid Clearinghouse Service to Help Reduce Fraud

Visa 2014 logo 140x60Visa has announced a new Prepaid Clearinghouse Service - "a centralized database that allows financial institutions, processors and prepaid program managers to share prepaid card data such as enrollments, load funding, suspected fraudulent information and previously reported fraud on existing card accounts." Visa says the new service will provide information sharing to better identify and stop fraudulent enrollments, funding, use and other fraud schemes involving prepaid cards.

Visa’s Prepaid Clearinghouse Service will deliver a comprehensive compilation of prepaid account-level data from across the industry, which will help reduce prepaid fraud losses for consumers, financial institutions and their clients,” said Brian Triplett, SVP, head of North America prepaid products.

“Criminals are increasingly targeting prepaid products which more and more consumers are using for every day purchases. While existing laws and industry safeguards help limit most consumer losses, PCS is a huge step forward for the industry towards proactively preventing fraud schemes targeting prepaid cards.”

Prepaid Clearinghouse Service participants will have access to a "holistic view of prepaid fraud across the industry, enabling them to detect and protect their customers and their portfolios from fraud efficiently and effectively."

Reporting information into PCS will be required for all U.S. Visa-issuing financial institutions and program managers, yet PCS is capable of supporting multiple network-branded prepaid cards. All U.S. Visa prepaid issuing financial institutions and their program managers will be required to report into PCS by June 2015.

Visa's Prepaid Clearinghouse Service is modeled after Visa’s Issuers’ Clearinghouse Service (ICS), which was created to help reduce bankcard credit and fraud losses. All Visa-issuing members submit information on both fraudulent applications and consumer credit card applications for use during the application and underwriting process.

February 25, 2014

Headline News from PaymentsNews.com - February 25, 2014

Glenbrook's Payments Insight Workshop series this spring focuses on three key topics for payments professionals: Bitcoin - Basics and Beyond (March 26), Data in Payments (April 22) and Innovation in Payments (May 8). Offered in a small group setting in the San Francisco Bay Area, registration is now open for each of these workshops!

On Twitter:

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

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