As a merchant, network security should be a top concern when it comes to credit card processing. The most vulnerable place for credit card data is on the merchant side of the transaction before it’s sent to the payment processor. This is why PCI compliance is important to ensure the security of a merchant’s payment […]
Importance of Network Security – The OnePlus Credit Card Hack Read More »
Whole Foods has been in the news lately due to its recent acquisition by Amazon, which brought about in-store discounts for Amazon Prime members. Unfortunately, not everything is peachy at Whole Foods: in late September, the grocery outlet suffered a large-scale data breach, in which several of its point-of-sale systems in their taprooms and full
Whole Foods Data Breach [2023 Update] Read More »
Data Breach after Data Breach The chaos of the Equifax data breach has left nearly every American feeling violated and confused. Hackers stole Social Security Numbers, birthdates, addresses, driver’s license numbers, and credit card numbers. Now they can use this information to rack up charges, open new accounts, steal benefit checks, and more. Secure payment
Was I affected by the Equifax data breach? How do I protect myself? Read More »
For internet giant Yahoo, the year 2016 cannot be over soon enough. The legendary internet services portal and search engine has been losing significant market share over the years, but two major security issues in 2016 may have compromised its future. Yahoo has been involved in talks with American telecommunications giant Verizon about a possible
The Yahoo Data Breach and Its Dire Consequences Read More »
On October 21, 2016 there was a DDoS attack that efficiently shut down several internet services for an extended period of time. Some of the websites include Github, Twitter, Spotify, The New York Times, Pinterest, Netflix, and many, many others. As a precaution in case of further attacks, banks are now stockpiling Bitcoin to pay
Banks Are Hoarding Bitcoin to Protect Against Hackers Read More »
Ever since its beginnings in the 1980s, Verifone has been known as a major global provider of point-of-sale (POS) technology and innovative solutions for the merchant payments industry. After three decades of being a dominant market player, Verifone is more than just a provider of credit card terminals; the company is seen as a respected
Verifone CEO Comments on the Future of Payments Read More »
Great news for the credit card processing industry: Just one year into the shift towards the Europay, MasterCard and Visa (EMV) system in the United States, and counterfeit fraud costs have been slashed by just over 50%. According to a report issued by credit card giant MasterCard in mid-September, counterfeit fraud costs are being sharply
Fraud Costs Cut in Half Since the Introduction of EMV Read More »
In the fragmented world of mobile payments, one company is taking advantage of unifying existing technologies for the benefit of shoppers. FitPay is a California company that was envisioned by veterans of the mobile payments industry. This innovative tech firm has paid close attention to shoppers who have been largely underwhelmed by “contactless” mobile payments
FitPay: A Truly Wearable Payment Option Read More »
Dating sites pervade the Internet. This is nothing new. In fact, they have been around and in use almost since the World Wide Web became a global sensation. Scammers and fraudsters pervade society. This is also nothing new. What is new is that they have moved mainstream and have become more technological and innovative in
Online Dating Users Scammed Out of Millions [2023 Update] Read More »
American companies that use credit card processing and merchant services are on high alert after a Russian hacking group breached the servers of various POS or point of sale systems. The first victim of the breach was tech giant Oracle, which in mid-2016 acquired MICROS Systems, a major provider of POS solutions for the retail
Oracle MICROS Hackers Also Hacked 5 Other Companies Read More »
Software giant Oracle Corporation became the victim of a data breach last week when a Russian organized cybercrime group gained access to hundreds of their systems. According to security experts the group gained access through a customer support portal for companies that use the MICROS point-of-sale software from Oracle. The MICROS software payment system is
How MICROS Point of Sale Systems Got Hacked Read More »
Kimpton Hotels & Restaurants is investigating reports of a data breach at several of its properties. Kimpton operates 62 boutique hotels across the country and has begun to look into the scale of this hacking. Management has hired a computer security firm to find out if guest information or internal systems have been hacked. The
Hotel Chain Looking into Data Breach Read More »
Data security issues at Wendy’s have now been super-sized. Following whispers of a data breach in January, Wendy’s finally confirmed payment security issues in May, when spokesmen admitted fewer than 300 stores had been affected by malware. Now, the company admits the real number of compromised restaurants is over 1,000. Thieves installed malware on POS
Data Breach at Wendy’s Expands to Over 1000 Locations Read More »
The transition to chip cards, or EMV (Europay, MasterCard and Visa chip technology) hasn’t been an easy one for merchants to adopt. In order to ensure that they are compliant with new rules, merchants have had to upgrade credit card processing systems in order to accept the new chip cards. Failure to do so leaves
Amex Changes EMV Chargeback Policy Read More »
A jarring amount of 17.6 million people (7% of Americans) had at least one incident of identity theft in 2014, according to the Bureau of Justice Statistics. Unfortunately some of that identity theft can come from third parties, including criminals accessing business accounts to get information about consumers. Nonprofits, small businesses and large corporate companies
Err on the Side of Caution: Nonprofits and Virtual Credit Cards Read More »
Credit card processors and merchants in the U.S. are starting to experience the true implications of the enormous switch to the EMV system, which stands for Europay, MasterCard and Visa. In the wake of several terrible data breaches by hackers who went after major retailers such as Target and Home Depot, the payments industry has
Visa’s Take on EMV Liability & Chargebacks Read More »
Around the world, 80 countries have added EMV chips to their credit cards. These chip cards are more secure than credit cards with only a magnetic strip and have helped to reduce credit card fraud in many places. As a result, these cards are now being introduced in the United States. Many retailers, however, are
Visa and MasterCard Sued by Home Depot over Chip Card Security Read More »
While plans are being initiated that will reduce credit card fraud, it appears the problem is going to get worse before it gets better. Credit card issuers are rushing to send new EMV enabled cards to their customers. These cards, also known as chip cards, contain technology that makes credit card theft much more difficult.
Hackers Rush to Cash In Before Chip Cards Take Over Read More »