The world is moving on from magnetic stripe payment cards, with one notable exception: the United States. Credit card issuers, banks and consumers agree the magnetic stripe is prone to hacking - so why is one of the largest markets for plastic payment still clinging to decades-old technology?
Payment card security group PCI Security Standards Council has a new standard aimed at smoothing the contactless payment experience at retailers by ensuring that a single commercial device can process card data and a PIN. Consumers across the globe increasingly use contactless methods for payment.
In the latest weekly update, ISMG editors discuss how organizations can comply with the new PCI DSS 4.0 requirements, whether other countries should follow the U.S. lead on legislating software bills of materials, and key strategies for CISOs preparing for an economic downturn.
Software point of sale or SoftPOS is a groundbreaking technology that allows businesses to accept card payments directly on their devices without requiring any additional software. As this payment method gains widespread adoption, what does it mean for the security of our payments systems?
The PCI Security Standards Council on Thursday released the Payment Card Industry Data Security Standard version 4.0. The latest version's improvements are intended to counter evolving threats and technologies, and the new version will enable innovative methods to combat new threats.
As new payment trends emerge, such as the surge in ecommerce during the COVID-19 pandemic, payment card standards also must change, says Jeremy King of the PCI Security Standards Council, who will be a featured speaker at ISMG's Virtual Cybersecurity and Fraud Summit: London on Oct. 20.
The need for enhanced business agility and secure remote access to support digital transformation has led to the adoption of the security access service edge, or SASE, model, says Rajpreet Kaur, senior principal analyst at Gartner.
Jeff Schilling, global CISO at Teleperformance, a Paris-based company offering digitally integrated business services worldwide, describes four principles for mitigating security risks for the remote workforce during the COVID-19 pandemic.
As the retail and restaurant industries get back to work, there are concerns over how best to protect payment card and customer data as contactless technologies grow in popularity, says Courtney Radke of Fortinet, who offers strategies to mitigate these risks and comply with regulations.
Troy Leach of the PCI Security Standards Council discusses how the shift to card-not-present transactions during the COVID-19 pandemic has created new fraud-fighting challenges and offers an update on pending standards revisions.
Addressing digital payment security challenges requires having good identity verification capabilities as well as a strong authentication process that's friction-free for consumers, says Singapore-based Gautam Aggarwal, senior vice president and regional chief technology officer, Asia Pacific, at Mastercard.
Organizations in India need to ramp up their authentication efforts in light of a 40% increase in cashless transactions since the start of the COVID-19 pandemic, which has led to increases in attempted fraud, security experts say.
The latest edition of the ISMG Security Report offers an in-depth analysis of whether Instagram is doing enough to protect the contact information of minors. Plus: Compliance updates on GDPR and PCI DSS.
In December, PCI SSC plans to publish a new standard for solutions that enable "tap and go" transactions on merchant smartphones and other commercial off-the shelf mobile devices. Troy Leach, the council's CTO, offers insights on the role the standard will play in enhancing security for smaller merchants.