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Author archives: Kaye Skinner

Retailers hit hard by data breach expenses

Target has so far booked $162 million in expenses related to the data breach it suffered in late 2013 which saw thieves steal the card details of tens of millions of customers. Reporting its full year financial results, the retailer says that it incurred breach-related expenses of $191 million in 2014, which was partially offset by the recognition of a… Continue reading >>

Protecting mobile banking and payment apps from malicious app attacks?

We are constantly reminded by news stories how complex it can be to secure mobile banking and payments apps. A recent study* has found that 11% percent of Android banking apps are suspicious, which is enough to frighten many banking app service providers and their end-users. Should suspicious apps turn malicious, they can attempt to collect customer credentials, initiate communication… Continue reading >>

Barclays launches Twitter Payments through Pingit

In a UK first, Barclays has announced it will be the first British bank to allow people to pay each other and small businesses via Twitter payments using just their Twitter handle. Launching on both Android phones and iOS devices next month (Tuesday 10th March), Twitter payments through Pingit will expand the existing service to social media and a potential  13.5 million… Continue reading >>

SIM card remains secure

The SIM card is so secure that in the case revealed recently, even intelligence services preferred to steal the key rather than attack the SIM card. The secure authentication of the mobile phone user on the mobile network is the main function of the SIM card. Producers of SIM cards maintain the highest security procedures and processes. The companies are taking the targeted… Continue reading >>

Can we trust cryptocurrencies?

It is a truth universally acknowledged, that a currency system seeking successful adoption must be in want of trust. Trust that a representation of value, such as a paper note, is backed by real value or a genuine obligation to repay; trust that those representations will be accepted by others as such; and trust that the representations of value are… Continue reading >>

Online payment methods around the world

Not all countries have cards as the predominant payment method when paying for goods and services online. Payment methods can be quite diverse from country to country. Expert Market have designed a map to display the different online payment methods of 29 countries around the world. The data has been compiled by global payment company Adyen who have processed over… Continue reading >>

Card fraud at the ATM is serious – time to step up the fight

Representing global losses in excess of a billion Euros, card fraud and associated skimming remains the most prevalent type of ATM crime and a major concern for financial institutions (FI) that are at risk of losing customers’ confidence, due to the constant threat of cardholder identity theft and card losses. Continuously working on new solutions to counter these risks, Diebold… Continue reading >>

Visa Europe launches payment tokenisation and expands P2P payments capabilities

Visa Europe has announced its plan to launch a payment tokenisation service customized for the needs of the European market. Tokenisation technology will be at the heart of new mobile payment solutions and has been hailed as one of the best data protection and fraud prevention methods available.  The new service will be available for financial institutions from mid-April 2015…. Continue reading >>

Google attempts to revive Google Wallet in new telco deal

Google is said to be reviving its Google Wallet after seeing how popular Apple Pay has been, according to The Wall Street Journal. To do so, Google is apparently in the early stages of a deal to take ownership of the carrier-owned Softcard as part of this Lazarus act for its mobile payment system. Previously, carriers in the United States were reticent to… Continue reading >>

Merchants deploying NFC terminals in greater numbers globally

According to a new Berg Insight reporter global merchants the world over are deploying more NFC terminals at the point of sale and activating the NFC capability. Berg Insight estimates global shipments of NFC-enabled POS terminals in 2014 increased 33% year over year for approximately 9.5 million in total, bringing the installed base to 21.4 million units. Three-quarters of the… Continue reading >>