In 2016, every business is a digital business. Traditional businesses will be vulnerable to disruption, and emerging industries will face new threats. With cyberattacks costing businesses about half a trillion dollars – conservatively – in 2015 alone. What does 2016 hold?
Data breaches are the new normal. IT departments have to tackle constantly evolving security threats and many are struggling to keep up. Users continue to be the biggest threat to enterprise wide security, and in 2016, we’ll see a shift towards smart interoperable security tools which take the decision of what and when to encrypt out of their hands.
Singapore-based United Overseas Bank (UOB) has become the first bank in Asia-Pacific region to implement the Visa Token Service. The bank is integrating the Visa Token Service as part of its digital wallet UOB Mighty.
Cybersecurity will be a focus of the upcoming presidential election as organized crime rings continue to expand and terrorism shifts online. Retailers will continue to fall victim to attacks and suffer millions in losses and debts, leading to more lawsuits.
CardFlash News Briefs: BLUESNAP (execs); RS (contract); UL (InfoGard); and PAYSCOUT (deal).
CardFlash News Briefs: CFSI (study); XPRESSBUY (Visa); ACI (TransferWise); and INTELLICHECK (deal).
Hong Kong-based ScramCard has snagged a seven-figure private investment from Stewart Milne CBE.
ScramCard users upload their credit and debit cards to a universal card with high security features.
CardFlash News Briefs: PEPPERMINT (funding); INAUTH (expansion); HYPERWALLET (milestone); and NFCC (Synchrony).
CardFlash News Briefs: ALLIED (IPO); SYNAPTICS (Nok Nok); VINDICIA (BBC); and TCF (FDC).
As the European Banking Authority (EBA) develops its Regulatory Technical Standards, and as the EU Member States consider the detail of PSD2, any regulation governing online payments should enable and encourage the e-commerce sector to balance the twin considerations of risk and convenience (otherwise growth would be stifled and costs would increase).
Samsung Pay had added eight more credit and debit card issuers and now supports eligible Chase Visa credit, debit and Liquid cards.
CardFlash News Briefs: GPN (talech); MYPINPAD (VocaLink); AZIMO (Nigeria); and UNIONPAY (Hong Kong).