EMV

After a year of EMV implementation, merchants are still unsure of the facts. Banks have been rapidly issuing EMV enabled chip cards in replacement of magnetic strip cards. EMV (Europay/MasterCard/Visa) is standard for inter-operation of integrated circuit cards (chip cards) for authenticating credit or debit card transactions. EMV is a global model for payment terminals and cards, which aims to improve...

In the fall, MasterCard will begin testing biometrics to secure online payments. Customers will be required to hold up their phone and take a picture when completing an online purchase. Various methods of identification will be tested. Director of innovative solutions for combating fraud, Ajay Bhalla,  noted the ensuing generation "is into selfies,"  assuring they will adapt to new technology...

In recent years we have seen a substantial increase in fraudulent charges on consumer’s credit cards. With hacks on large companies like Target and Home Depot, it was critical for the United States to make a change but was it the secure choice? As recorded by CNN Money, this past week at the Electronic Transaction Association’s Transact conference in San...

The volatile issues of payments and payment security have consumers, financial institutions, retailers and security professionals all wondering how to make shopping more secure. Security professionals are admitting that today, when you make a purchase, the way you make that purchase — in person, over the phone, online — can determine just how secure your transaction will be. "One in...

FoxBusiness.com is reporting on how, in the response to the recent high-profile hacking incidents over the past year, technology is being developed to further security for credit card purchases. Expect to see a newly established global standard for credit cards called EMV, the acronym for Europay, MasterCard and Visa. The new EMV cards harbor computer chips and work with authentication...