The Payment Card Industry Security Standards Council (PCI SSC) has released an overview of the planned changes to the Data Security Standards (DSS) that will be updated in November.
Your trusty SIM card could be a potential backdoor for hackers. Hackers may be able to open up access to the phone, including recording calls, sending and receiving messages and calls that can lead to charges, and worst of all, payment fraud.
The U.S. Federal Reserve has been investigating possible security risks in online payment systems ─like PayPal and Bitcoin─ and the effect that they may be having on the financial system, according to officials who gathered in Shanghai for the International Monetary Conference on Monday.
How secure are contactless payments? This emergent technology, which uses embedded chips in credit, debit, and other smartcards to make secure payments, was put to the test after reports of scanning and charging errors which reportedly dealt a blow to consumer confidence in going adopting contactless payments.
Payment fraud is estimated to cost $1 billion a year - and it’s growing. Thanks to the popularity of electronic payments in small and midsize businesses, they have become easy targets for fraudsters. Electronic payments are seen as quick, efficient, and secure, but they are in fact more vulnerable than business owners realize. Consulting firm, […]
