Category Archives: Security


How Single Use Virtual Cards Can Improve Digital Payments Security

Single use virtual cards can offer security to digital card-not-present transactions, and the use of such technology is growing, according to an RPMG Research study. “With single use [companies] can control policy adherence,” says CSI Enterprises’ David Disque, whose company offers single use virtual cards via a mobile app. “You can set controls so thatContinue Reading

Payment card industry gets updated security standard with new requirements

PCI DSS 3.0 contains significant new requirements, but some of the most important ones come with generous grace periods By Lucian Constantin, 08 November 2013 The PCI Security Standards Council released version 3.0 of the PCI Data Security Standard (PCI DSS) and corresponding Payment Application Data Security Standard (PA-DSS), adding new security requirements and guidanceContinue Reading

Beware iPhone and Android Fraud, Javelin Warns

Javelin is warning banks about a growing threat to the security of mobile transactions. The company noted that smartphone users who use their handsets to make purchases and perform banking transactions face a rising threat from mobile malware because they are increasingly utilizing mobile browsers rather than native apps to perform these transactions. Mobile browsersContinue Reading

Guardian Analytics Launches Mobile Banking Security Software

Guardian Analytics has rolled out fraud detection software for mobile banking services called FraudMAP Mobile. The software is meant to identify suspicious mobile banking activity across SMS, mobile Web and mobile applications. It uses behavioral analytics to find potentially fraudulent behavior and send out alerts. From “Guardian Analytics Launches Mobile Banking Security Software” American BankerContinue Reading

MasterCard Releases Tool That Predicts Ecommerce Fraud

MasterCard’s Expert Monitoring Fraud Scoring for Merchants is a new tool that supplies merchants with a predictive fraud score for card-not-present transactions to quantify the probability that a transaction is fraudulent. This is achieved using fraud detection models especially designed for e-commerce retailers, enabling them to assess a longer span of transaction history to generateContinue Reading

Bank Customers Favor Birthdate PINs

A study conducted by Cambridge University security researchers has implications not just for ATM cards, but also for any mobile device set to require a numeric password. According to the research, wallet thieves have a 9 percent chance of correctly guessing a person’s ATM code, based on current PIN-picking patterns. The researchers found that 23Continue Reading

Mobile Banking ID Theft Risks Become Clear

Younger customers, who are more confident about posting personal details and among the heaviest smartphone users, are particularly at risk of being victimized by identity theft, according to Javelin Strategy & Research’s 2012 identity fraud report. But while the incidence of identity theft is increasing, cost to consumers has stayed about steady. Two things thatContinue Reading

Top Pitt Inventor Tackles Credit Card Security

University of Pittsburgh professor Marlin Mickey, executive director of the RFID Center for Excellence at the Swanson School of Engineering, has devised a security system for tap-to-pay credit cards designed to foil electronic pickpocketing. He says such cards are enabled using a Near Field Communications chip and Radio Frequency Identification tags that are perpetuIally on,Continue Reading

Google Adjusts Wallet Security Functions

Google has restored the ability to issue new prepaid cards to the Google Wallet and issued a fix that prevents an existing prepaid card from being re-provisioned to another user. Google said it is taking concrete actions to help protect its users from unauthorized access to funds stored on the cards. For example, to addressContinue Reading

Google Wallet Boss: No More Prepaid Cards Until We’ve Dealt With Hack

Google has responded to the latest hack on its Google Wallet service by suspending the provisioning of Google Prepaid Card to the mobile wallet app, according to Osama Bedier, vice president of Google Wallet and payments. The latest revealed hack allows access to the existing card balance by simply wiping Google Wallet’s data and thenContinue Reading