Technology

USM opens Maine Cyber Security Cluster with ribbon-cutting ceremony

The University of Southern Maine (USM) held a ribbon-cutting ceremony on Tuesday for the Maine Cyber Security Cluster, a research lab housed at the university that will teach student workers how to combat a number of security threats. Construction for the lab began earlier this year at USM’s science building, with $1 million in grant support... Read More...

Malware threat affects 51 UPS Stores in 24 states

UPS announced last week that malware discovered on computer systems at 51 stores compromised consumer information, exposing names, postal addresses, payment card information and email addresses. The intrusion makes UPS the latest retailer among major names like Target and Michaels that have experienced a security breach. According to the... Read More...

Money20/20 event, hackathon to be held in Las Vegas this fall

The Money20/20 conference, which explores trends in payments and innovations within the financial services industry, will be held this fall in Las Vegas and will include participation by more than 2,250 companies. The event, which will be held Nov. 2-6 at the ARIA Resort and Casino, will feature more than 300,000 square feet of showcasing and... Read More...

Ingenico and partners release PCI-certified P2PE, EMV payment solution

Ingenico recently partnered with FreedomPay and ScanSource to release the first PCI-certified point-to-point encryption (P2PE) and EMV payment solution in North America. The new solution, which combines Ingenico’s On-Guard and FreedomPay Commerce platforms, covers EMV and NFC electronic payments, as well as those made with magnetic stripe... Read More...

VeriFone expands taxi payment services to partners in Turkey, Mexico

VeriFone announced on Wednesday plans to expand its in-taxi payments service to include the Turkish capital of Istanbul and Mexico’s Mayan Riviera. According to VeriFone, its full suite of taxi payment services, which include Way2Ride—the company’s award-winning mobile taxi app—will be available to more than 20,000 taxis in the two... Read More...

FTC approves iKeepSafe’s safe harbor program to satisfy COPPA

The Federal Trade Commission recently approved the Internet Keep Safe Coalition’s (iKeepSafe) safe harbor program aimed at protecting the information of children under the Children’s Online Privacy Protection Act (COPPA). Submitted in February, the safe harbor program applies to a COPPA safe harbor provision aimed at encouraging industry... Read More...

Heartland Payment Systems acquirers mobile tablet POS platform Leaf

Heartland Payment Systems, the fifth largest payment processor in the U.S., announced on Thursday that it has acquired mobile tablet creator Leaf for an undisclosed amount. According to Heartland, the acquisition demonstrates the company’s commitment to providing a POS platform that simplifies operations for small businesses. Leaf will... Read More...

EMV migration gains footing in U.S.

More than 575 million payment cards in the U.S. will feature EMV chip technology by the end of 2015, according to the Payments Security Task Force (PST), a trade body established to track the EMV migration. “These numbers reflect the significant momentum behind the adoption of EMV chip in the United States,” Ryan McInerney, the president of... Read More...

Western Union expands footprint to Ivory Coast with MTN partnership

Western Union announced on Monday that it has partnered with MTN Group, a mobile telecommunications company operating in Africa, Europe and the Middle East, to launch a new mobile money transfer service in Ivory Coast. Consumers in the country who use MTN’s Mobile Money service will be able to receive a Western Union money transfer... Read More...

Payments Council: Britain leads world in mobile payments industry

A recent report that compared worldwide person-to-person (P2P) mobile payment services showed Britain leads the world market in infrastructure, ownership, speed and customer experience. The report, compiled by the U.K. Payments Council, found Britain’s top spot in the mobile payments market is due in large part to the P2P Paym payments... Read More...

NSF announces Frontier grants to support collaborative cybersecurity

The National Science Foundation’s (NSF) Secure and Trustworthy Cyberspace (SaTC) program announced two new grant awards to support collaborative projects that address challenges in cybersecurity. The “Frontier” awards, which are part of a $74.5 million investment to support cybersecurity research and education, will go towards the... Read More...

FTC report finds mobile shopping app disclosures inadequate

A new staff report released by the Federal Trade Commission found many consumer disclosures for mobile apps designed to be used in online shopping do not provide shoppers with adequate information. The report—which examined 121 of the most popular apps, including in-store shopping apps and “deal” apps, as well as comparison shopping... Read More...

AmEx, PBZ partner to launch NFC payments pilot in Croatia

American Express recently announced that it has partnered with Croatia’s Privredna Banka Zagreb (PBZ), the second largest bank in the country, to launch a test pilot of an NFC payments system using host card emulation technology. “American Express recognizes that consumers around the world are paying in new and different ways,” Mike... Read More...

Central Bank of Russia to create own national payment system

Russia’s central bank recently said that it would create a national payment card system to compete with Visa and MasterCard without the use of existing infrastructure. The Central Bank of Russia’s press office said the new system is expected to be up and running in 2015, and the first system-branded cards are expected to be issued within a... Read More...

PayByPhone mobile parking payment app available on Amazon products

PayByPhone—an enterprise of PayPoint—recently announced the availability of its mobile parking payment app for Amazon Fire, Kindle Fire and Appstore users. The Fire phone’s NFC capabilities work with PayByPhone’s parking meter stickers in San Francisco and Seattle—the stickers contain electronic chips that store information like the... Read More...

U.S. Bank releases suite of business traveler payment enhancements

U.S. Bank recently announced a new suite of tools aimed at securing, enhancing and streamlining payments made by business travelers. The new capabilities, which will be introduced during the Global Business Travel Association’s annual conference this week, include U.S. Bank Travel VirtualPay, real-time credit limit change capabilities and... Read More...

Visa announces new secure payments offerings for internet devices

Visa announced last week a new suite of offerings aimed at securing payments across a number of internet-connected devices and wearables. Visa Digital Solutions offerings will fall into two categories: support for new methods of payment and technology to protect consumers and facilitate innovation, according to a Visa press release. “Visa... Read More...

NCSA to host event for businesses, consumers on securing online activities

The National Cyber Security Alliance (NCSA) will host an event next month to educate businesses and consumers on enhancing the security of their everyday online activities. The event, which will begin at 9 a.m. on Aug. 5 at the Wilma Rudolph Event Center at Liberty Park in Clarksville, Tenn., will include participation from Rep. Marsha... Read More...

Goodwill investigates potential breach involving customers’ credit info

Goodwill announced on Monday that it is currently investigating a potential data breach involving consumers’ credit card information after a payment card industry fraud investigative unit and federal authorities alerted the organization to potential theft. “Goodwills across North America take the data of consumers seriously and their... Read More...

MasterCard launches MasterPass technology in Poland

MasterCard extended its global reach even further last week with the introduction of its MasterPass digital wallet technology in Poland. uPaid will be among the first to use the MasterPass platform to power its uPaid wallet. uPaid will switch its current MasterCard Mobile users to the wallet, according to a Mastercard press release. “In... Read More...

NAC issues guidance on EMV migration for ATM operators

The National ATM Council (NAC) issued guidance last week for the U.S. ATM industry on EMV migration, urging operators to ensure that new machines purchased have EMV hardware and software functionality. “EMV is one of the most crucial issues facing the US Independent ATM industry today, and NAC felt a real need to help provide clarification... Read More...

Senate Intelligence Committee approves Cyber Information Sharing Act

The Senate Intelligence Committee voted 12-3 last week to advance the bipartisan Cyber Information Sharing Act (CISA), which is intended to help the government and private sector prevent security breaches and cybercrime. The bill—introduced by Sens. Dianne Feinstein (D-Calif.) and Saxby Chambliss (R-Ga.)—expands information shared about... Read More...

MasterPass digital payments technology goes live in South Africa

MasterCard announced on Tuesday the launch of its MasterPass service in South Africa, which will be the 10th country to gain access to the company’s digital wallet technology. Standard Bank will be the first local bank to offer a digital wallet powered by MasterPass—the app will be available for download for Apple, Android and Blackberry... Read More...

SmallBizDev Hackathon to be held in Chicago later this week

The SmallBizDev Chicago Hackathon, which encourages developers, designers entrepreneurs and others to create mobile solutions to solve financial challenges faced by small businesses, will be held later this week at 1871 in the Merchandise Mart Plaza. The event—sponsored by the D2D Fund and the Center for Financial Services Innovation—will... Read More...

Allied Wallet recognized by Acquisition International for payments

Online payment processor and merchant services provider Allied Wallet was recently named the “Customized Payment Solutions Provider of the Year” in the U.S. by Acquisition International for its small-business online payment solution. Acquisition identifies and recognizes success, innovation and ethics in awarding the title, which is one of... Read More...

BofA Merrill Lynch offers cross-currency payments through online portal

Bank of America Merrill Lynch recently announced that corporate and government clients now have access to low-value, cross-currency payments through the company’s CashPro Online banking portal. “We’re pleased to add this new capability to CashPro Payments and extend the available options that clients have to initiate their cross-border... Read More...

Creditcall CTO offers tips to simplify migration to EMV

Jeremy Gumbley, the chief technology officer at payment service provider Creditcall, recently offered tips to participants in the payment industry to help ease the transition to EMV ahead of the October 2015 liability shift. Gumbley said one of the first steps in migrating to EMV involves the selection of a PIN pad. In order to choose the... Read More...

Retailers overly confident in ability to detect data breaches

A new survey from Tripwire showed that while data breaches largely go undiscovered for a long period of time, retail firms are overly confident in their ability to detect breaches. The survey, which evaluated the attitudes of 154 retailers across a number of cybersecurity topics, found that 42 percent of retailers expected to detect a data... Read More...

FFIEC launches cybersecurity webpage, announces pilot program

The Federal Financial Institutions Examination Council launched its cybersecurity webpage on Tuesday to promote awareness of its cybersecurity activities. The FFIEC page provides links to webinars, statements and other resources that may assist financial institutions as they examine and revamp their cybersecurity programs. In addition to the... Read More...

Debit use increases despite growing threat of data breaches

A recent study commissioned by the PULSE EFT Network showed that despite recent and well-publicized data breaches at major retailers, the performance of debit card programs improved in 2013. According to the study, consumers have increasingly turned to electronic payments—the number of transactions per card increased to 20 from approximately... Read More...

Medvedev: Russia must cooperate with U.S. card processors

Russian Prime Minister Dmitry Medvedev said earlier this week the Russian government must cooperate with card companies Visa and MasterCard in building the country’s national payment system. "To do this, we have taken a number of steps, including changes in the law on the national payment system... which caused heated discussion,”... Read More...

Malware migrates from Russia to threaten U.S. mobile banking users

Russian IT security company Kaspersky Lab recently discovered malware that has migrated from Russia to the U.S., presenting a threat to mobile device users. According to Kaspersky, Svpeng—a type of malware that targets mobile devices—was detected a year ago. The first releases of the malware sought to steal payment card information from... Read More...

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