Weird bank security questions? Try these

"Often, security questions on websites aren't as difficult as security researchers would like.

An Indian bank may have addressed that issue, but it reportedly took a weird route to get there.

Journalist Rohin Dharmakumar was greeted by some very strange questions when registering with the State Bank of India."

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UK refuses to support European payment regulations

From Payment Eye –

“The UK and two other European countries have refused to adhere to new payment guidelines set out by the European Banking Authority (EBA).

The guidelines on the security of internet payments aim to set minimum security requirements for payment services providers across the EU.

The EBA have stated that the guidelines will come into force on 1st August. The rules will provide more protection for EU consumers against payment fraud on the internet.

The recommendations are an interim measure until the upcoming revised Payments Services Directive (PSD2) comes into force in 2018/19.”

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Bank Execs Say Apple Must Work With Them to Solve Payment Security Issues

From Ad Age –

“Payment security is a banking industry-wide problem and Apple needs to work with banks to solve it, said a panel at American Banker's Retail Banking conference in Austin, Texas.

"Hey, Apple you're part of the industry now," said Neff Hudson, assistant VP-emerging channels at USAA, which partners with Apple Pay. "Welcome to the party."

Executives from Mastercard, USAA and BetterBuyDesign, a payments system consulting firm, gathered to discuss Apple Pay's impact on bank security and branding.

Security was a hot topic in light of last week's fraud attempts on Apple Pay. The fradulent transactions used stolen credit card information from retailer data breaches. Apple's platform was previously hailed as one of the most secure mobile payment options because of its use of tokenization -- an encryption system.”

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