Card Fraud

EMV and its moving parts presents a far more complex payments method for merchants, ISVs, payment processors, and financial institutions than the good old magstripe. It continues to have ramifications throughout the payments ecosystem. As Executive Director of the Smart Card Alliance and director of the EMV Migration Forum, Randy Vanderhoof has shepherded a sometimes fractious […]

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Anyone around technology for a couple of decades recognizes how old ideas tend to return. To those folks, using a browser to do data entry into an enterprise database looks a lot like a mini or mainframe system’s terminal application. Back for another incarnation in payments is an old fashioned topology familiar to anyone who […]

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Realtime, consumer-facing authorization of card payment transactions has been available for some time but few of us have it offered to us by our issuers. Today, there’s a number of technology providers selling truly realtime notifications and two-way approval requests based on the live authorization stream. Glenbrook’s Russ Jones takes us through what’s on offer while […]

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Last month, I invited everyone to participate in a survey about card fraud detection. It asked a simple question: “Who’s better at card fraud detection? You or your bank?” The results are in and, well, it looks like it’s more or less a tie: cardholders initially detected card fraud slightly more often than their issuers. […]

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Our Card Fraud survey is still open — we’re trying to answer the question of who first detects card fraud: cardholders or their banks? The survey can be found here. I’ve received a couple of comments suggesting I left out an important fraud detector in the survey: merchants! In the card not present (CNP) space, […]

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We often get interesting questions about payments, and the latest one stumped us: “How many credit and debit fraudulent uses are first detected by the bank? By the customer?” We don’t know the answer to that one ­­or of any good source for this data ­­ so we thought we’d ask you, members of the […]

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As a biller or merchant, you are vitally concerned about your payments “back office”, that set of core functions involved with accepting consumer payments. Whether you are in Treasury or Technology, if you are concerned with payments, you are asking yourself, every day, questions such as: Is my organization optimized to manage payments? Am I […]

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Chernobyl is certainly at the top of the list of man-made disasters.  In light of recent events, I’ve been thinking that the Target breach has become the Chernobyl of the payments world. As a group, we Americans never thought that much about payment security – we really didn’t have to.  We are protected by federal […]

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The news from Target, increasing the number of cards compromised to 70 million and the expansion of data loss to mailing and email addresses, phone numbers, and names, affirms that we’re in a security crisis.  As my colleague Scott Loftesness puts it, card data is, from a brand and business perspective, the new radioactive material.  […]

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The arrest of eight in New York who participated in a global $45 million ATM cash-out attack revealed, once again, some hard truths about the cyber security posture of financial systems and the enterprises that operate essential payment infrastructure. First, the organization and sophistication of the attackers continues to improve.  These are global organizations peopled […]

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We’ve launched a new research effort exploring best practices among merchants about how payments and fraud risk management functions are organized, staffed, and measured. If you work in the payments or fraud risk management functions for a merchant, please take a few minutes to complete our survey. In exchange for your help, we’ll share the […]

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In one of my prior lives, I made the phone call that triggered what eventually became the industry standard for chip card deployment now known as EMV (Europay-MasterCard-Visa). That call was made almost 20 years ago. At the time, I was at Visa where we were spending a lot of energy on the development of […]

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You have to admire great execution when you see it – and this morning Jeff Mullen and Philip Yen from Dynamics stopped by our offices to say hello and share some of their excitement at the reactions they’ve been getting to their new “ultra smart” payment cards – they’ve coined (!) them Card 2.0. We’ve […]

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One of the more interesting elements added late in the game to the Durbin amendment was the language added around card-related fraud costs. This has led to much speculation about what this might mean for various anti-fraud technologies (e.g., EMV in the US, a mandate for 3-D Secure for online ecommerce, etc.) as the Fed […]

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If you’ve been following along, you know that I’m just back from a week in Europe. Before heading over, I took the extra precaution of calling a couple of my card issuers to let them know I was going to be traveling – in the hopes that my primary debit and credit cards would continue […]

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