Bank of England Wants Customers Accountable for Fraud

Bank of England Wants Customers Accountable for Fraud

The Bank of England and others want consumers being held responsible for fraud, a move that could ultimately spur more criminal activity. Bank and e-commerce fraud cost British financial institutions nearly £395 million last year, but those huge costs have been traditionally borne by financial institutions, not their customers. However, with fraud growing and the…

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Peach Fuzzer Reveals EMV Terminal Fraud Techniques

Peach Fuzzer Reveals EMV Terminal Fraud Techniques

New research shows EMV terminals can be compromised with malicious spoofed credit cards able to create memory corruptions, denial of services, and arbitrary code execution. Peach Fuzzer says discovering these exploitable vulnerabilities enabled solution providers to mitigate their vulnerabilities quickly and cheaply, before they became a hacker’s attack vector. Researchers from a collaboration between Deja…

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Swiftch Deploys Thales payShield 9000 HSMs 

Swiftch Deploys Thales payShield 9000 HSMs 

Dubai-based Swiftch, a payment securing the first Visa Ready and MasterCard self-certified mobile card payment acceptance solution for merchants and acquirers throughout the United Arab Emirates (UAE), is using the Thales payShield 9000 hardware security modules (HSMs). UAE is highly developed in terms of IT infrastructure, internet and smartphone usage, and yet cash is still…

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Seamless Inks a Big Deal with UK’s Go Cardless Network 

Seamless Inks a Big Deal with UK’s Go Cardless Network 

Sweden’s Seamless has inked an agreement with the UK-based payments network Go Cardless, offering direct debit services. The GoCardless deal will enable all SEQR customers to link their bank account to the Seamless mobile payment solution, SEQR, regardless of who they bank with. The agreement provides SEQR customers access to the UK Bacs system via the…

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Merchant Acquiring Facing New Challenges in Changing Landscape

Merchant Acquiring Challenges

The Merchant acquiring landscape is being transformed by a new cast of industry players providing emerging services such as e-commerce gateways and value-added services such as fraud management systems. Mercator Advisory Group’s most recent research report, Merchant Acquiring’s Ecosystem: Evolving Beyond Transactions says merchant acquiring is a pivotal driver of electronic payments in e-commerce and…

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