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Data breaches have compromised nearly seven million UK credit and debit cards over the last three years, with breached businesses each paying out almost a million in forensic and remediation costs, payments processor Worldpay has calculated.
The long expected migration of the U.S. payment system to the Europay MasterCard Visa smartcard standard finally appears to be gathering steam.
The California State Senate has killed a bill that would have required California retailers to implement the Europay MasterCard Visa smartcard (EMV) standard that's seen as far safer than magnetic stripe technology used today.
A leader of the LulzSec hacking group is walking free after serving about seven months in prison because of his cooperation with police that has helped prevent hundreds of other attacks.
Target is speeding up support for chip-and-PIN payment cards to restore consumer confidence shaken by last year's massive data breach. But many other retailers feel less of an urgency to adopt the more secure technology.
The data breach disclosed by Supervalu is another reminder about why the ongoing migration of the US payment system to smartcard technology can't happen fast enough.
Migrating U.S. payment systems to the Europay MasterCard Visa (EMV) smartcard standard could take significantly longer than envisioned and offer fewer security benefits than what's being touted by proponents of the technology.
Genesco, a specialty retailer of footwear, sports apparel and related accessories has sued Visa USA for $13.3 million in fines that were assessed against the company after a credit card data breach in 2010.
Visa and NeuStar have joined forces and formed an alliance that it hopes will help accelerate the adoption of mobile financial services globally, they said on Tuesday.
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I’m dating myself, but I remember when holiday shopping involved pouring through ads in the Sunday paper, placing actual phone calls from tethered land lines to research product stock and availability, and actually driving places to pick things up. Now, holiday shoppers can do all of that from a smartphone or tablet in a few seconds, but there are some security pitfalls to be aware of.