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Author archives: Kaye Skinner

PCI SSC warning: European online transactions under cyber attack

European merchants need to pay more attention to securing electronic payments, warns the Payment Card Industry Security Standards Council (PCI SSC), in a stark warning over cyber attack. This was one of the key messages at the recent Annual European Community Meeting in Berlin, Germany of the PCI SSC, which administers the industry’s data security standard (PCI DSS). “Cyber criminals have intensified… Continue reading >>

Global mobile payments trends in 2014

The payments industry is approaching an inflection point with respect to whether the mobile wallet and mobile payments could become a viable every day payment tool. More and more consumers are being introduced to the concept for the first time and many companies are beginning to make their very first mobile-related investments. Below are the five trends that gained in prominence… Continue reading >>

President Obama to speed US EMV adoption

In a bid to speed up US EMV adoption in the wake of recent payment card breaches at retailers, President Obama has signed an executive order directing government agencies to shift to the use of chip-and-PIN cards for use by staff as well as in consumer benefits programs, including Social Security. At an appearance Oct. 17 at the federal Consumer Financial Protection… Continue reading >>

Carney launches review Chaps payment system outage

The Bank of England governor, Mark Carney, has launched an independent review into the worst disruption of Britain’s banking payment system, the Chaps payment system, in seven years. The BoE said part of its real-time gross settlement system (RTGS), which underpins large transfers between bank accounts, had been “paused”, after routine maintenance – reports the FT. The breakdown meant the Chaps payment system, which last year processed… Continue reading >>

Mobile Payment Index reveals Asia emerging as m-commerce powerhouse

Adyen has announced its latest global Mobile Payments Index, which covers the period of July through to September 2014. The Mobile Payments Index, which captures data from web-based transactions across Adyen’s customer base of more than 3,500 businesses, found that globally payments over mobile devices contributed 23.3% of total online payments for the quarter, up from 21.5% last quarter. Asia… Continue reading >>

The Clearing House prepares for real-time payments system

US bank-backed ACH, The Clearing House, has moved to develop a faster payments system as it begins the long process of replacing its antiquated current payments system. The Clearing House, a payments company and trade group representing 24 of the nation’s largest commercial banks, announced Wednesday plans to build a real-time payment system to be used by all of the country’s financial institutions. The effort… Continue reading >>

60% of Android attacks use financial malware

According to the results of the “Mobile Cyber Threats” survey issued by Kaspersky Lab and INTERPOL, malicious, financial malware, programs targeting Android-based devices in order to steal money were used in 60% of attempted attacks registered by Kaspersky Lab between August 2013 and July 2014. Cybercriminals frequently targeted Android users in Russia, but also in Ukraine, Spain,United Kingdom, Vietnam, Malaysia, Germany, India and France. In… Continue reading >>

Bango and Samsung in global mobile payment partnership

Bango has signed a global agreement with Samsung. The agreement means that hundreds of millions of consumers using Samsung devices will have access to frictionless mobile payment for digital goods – apps, music, games and more – charging the cost to their phone bill in one click. Bango will provide carrier billing, collection and settlement for digital content purchased through… Continue reading >>

Signature-based mobile commerce payments

Belgium-Dutch start-up Sign2Pay is hoping to help abandoned mobile commerce checkout problems with technology that lets customers complete purchases by signing their names on their phones’ screens. Sign2Pay lets customers with any touch-enabled mobile device pay for online orders at participating merchants by entering their bank account number and scrawling their signature. Money is directly debited from customer accounts. The… Continue reading >>

UK number one target for cyber attacks in Europe

The UK spends more on cyber defence than any other European state, and rightly so. New statistics have emerged showing that the UK suffered significantly more cyber attacks over the first half of 2014 than any other state across Europe, the Middle Eastern or Africa (EMEA). A report from US company FireEye said that the UK sustained 17% of all… Continue reading >>