Visa Launches New Analysis For Instant Fraud Detection

Visa is helping U.S. fuel retailers prevent credit and debit card fraud at the pump with intelligent analytics that identify higher-risk transactions that may be fraudulent. While global fraud rates across the Visa payment system remain near historic lows, fuel pumps can be targets for criminals because they are often self-service terminals. The Visa Transaction Advisor (VTA) lets merchants use real-time authorization risk scores to identify transactions that could involve lost, stolen or counterfeit cards. Visa analyzes multiple data sets such as past transactions, whether the account has been involved in a data compromise, and nearly 500 other pieces of data to create a risk score. This allows merchants to identify those transactions with a higher risk of fraud and perform further cardholder authentication before gas is pumped.

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Mobile Payments Roadmap

Consumers have become increasingly comfortable using their smartphones for bill payments and other financial transactions, and experts predict that mobile devices are well on their way to becoming a primary tool for managing banking relationships. What the future landscape of mobile payments will look like, however, remains unclear – particularly in the area of mobile payments to merchants and retailers.

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Bindo launches EMV card reader for cloud-based POS system

Bindo retail technology announced the launch of a mobile EMV credit card reader for its cloud-based iPad POS. The EMV reader has full end-to-end encryption with its iPad POS system and is both EMV Level 1 and Level 2 certified. It slots comfortably into the audiojack of an iPhone or an iPad, and allows mobile credit card payment acceptance. Bindo’s system encrypts and tokenizes cardholder data at the point of capture and its Tamper-Safe security module (TSSM) helps prevent third party brute force attacks. The card reader will continue to support dual and triple track card reading. Others in the industry have announced EMV chip readers. Unlike competitors, however, Bindo’s mobile card reader will be able to process both chip-and-signature cards and chip-and-pin cards, enabling EMV debit card transactions, reducing the need for merchants to carry multiple terminals.

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Bankia to refresh ATM estate with Diebold

Diebold is behind an extensive update of the entire ATM fleet for Bankia. Diebold will support Bankia to reduce the complexity of managing an assorted fleet of ATMs from different providers by providing multivendor, turnkey installation services for the project, including terminal audits, terminal pre-staging, software loading/testing, security module integration, signage and advertising deployment, ATM installation and ATM training for end users. Bankia operates more than 2,000 branches and serves more than 7 million customers. Diebold will be managing the installation of more than 2,100 ATMs in the initial phase of the project, including the deployment of approximately 900 new Diebold Opteva® ATMs for the Madrid-based bank.

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Ecentric Deploys Stanchion P2PE

Transaction processing specialist Ecentric Payment Systems is boosting the performance and security of transactions by implementing hardware encryption devices supplied by Stanchion Payment Systems.The Futurex devices are unseen to the general public, yet perform an essential function every time a credit, debit or other card is used: they make sure the information exchanged between point of sale, bank and customer account is completely secure. Ecentric Payment Systems is a transaction processing business which processes all card transactions and other payments.

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Payfont Nails Down Scottish Enterprise funding

Payfont has been awarded £100,000 funding from Scottish Enterprise, helping to fund its online security to counter data theft disasters. The Anonymised, Distributed, e-Commerce Architecture (ADeCA) will protect organisations and their customers by managing distributed data fragments via a contextual security protocol. It makes a user’s data completely unique to that user, anonymous to others. This approach raises the bar significantly against Cybercriminals used to stealing large databases of data records that rely on standard encryption and linear access security methods.Cybercrime and its identity theft and money laundering consequences are now at epidemic proportions globally.The 2014 average data breach cost for a company is US$3.5m, up 15% on 2013.

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TSYS signs agreement with the Philippines’ Metrobank Card Corporation

TSYS signed an agreement to license its PRIME payment transaction processing platform to Metrobank Card Corporation (MCC) in the Philippines. MCC is a strategic joint venture between Metrobank and Australia New Zealand Bank and is one of the largest issuers and acquirers in the Philippines’ market. MCC will license PRIME 4, the latest version of the payment processing platform, to manage its multi-payment card issuing and merchant acquiring together with online authorization and switching on a single platform. Value-added services for installments, credit, loyalty, collections, dispute and chargeback management and acquirer fraud monitoring will also be offered as part of PRIME 4’s integrated payment solution.

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