'Roadmap' Clarifies Fraud Liability Shift

From Bank Info Security –

“The EMV Migration Forum has published a new "roadmap" to help card issuers, acquirers and merchants prepare for the October card-present fraud liability shift date - when U.S. card issuers and merchants are expected to be prepared to accept EMV-compliant card payment transactions (see October Fraud Surprise for Retailers?).

In an interview with Information Security Media Group, Randy Vanderhoof, director of the forum, says questions surrounding exactly what is and is not considered "fraud" after October spurred the forum to issue its report, "Understanding the 2015 U.S. Fraud Liability Shifts." ‘

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As Big Banks Prep for EMV, Fraud Relief Remains Far Off

From American Banker –

“Large banks and card issuers are ready for the U.S. shift to chip-and-PIN technology, according to a report issued Wednesday. But the drop in fraud that is expected to result is unlikely to come any time soon.

The use of EMV-style chip cards is supposed to make retailers like Target less appealing targets for hackers because they will be storing less card data. However, the way the U.S. is implementing EMV leaves plenty of room for the continued use of fake cards. And there is a plethora of ways hackers can use stolen card information without using a physical card.”

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Diebold takes 90-degree shift to counter ATM skimming

From Finextra –

“ATM manufacturer Diebold claims to have found the answer to skimming fraud with a new reader that requires users to insert their card sideways on to prevent the copying of data stored on the magnetic stripe.

Diebold ActivEdge counteracts skimming technology that currently relies on the ability to read the magnetic stripe of an ATM card in the short edge orientation, by altering the way the card is inserted and read.”

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Transport for London to overhaul Oyster technology

From Paymenteye  -

“With many users of London’s tubes, trains and buses embracing contactless card payments, TfL is exploring new options for its Oyster card system.

In the future, Oyster cards may directly incorporate the same contactless technology as credit and debit cards. Rather than the existing top-up system, this means that payments would be processed by the Transit Transaction Model, which currently handles contactless bank cards.

This will also mean that the Oyster system can follow the lead of contactless cards by adopting a flexible approach to fare capping.

At present, both Oyster cards and contactless cards “cap” at a set limit, after which the customer is not charged for their journeys. This limit differs according to the travel zones that the customer travels through during their day.”

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Visa announces Mobile Location Confirmation service; travelers should welcome verification technology

From ZD Net –

“Visa will begin rolling out a new geo-location service, powered by Finsphere, in April. Your smartphone and financial institution will work together to improve your card purchasing experiences.

Finding out that your credit or debit card has been disabled while traveling around the world can result in lost sales and major frustration. Given today's smartphone and electronic banking technology you would think there was a better way to integrate the two.

Last week Visa announced Mobile Location Confirmation, powered by Finsphere. In combination with your smartphone, mobile banking application, Visa, and Finsphere's services geo-location data will be used to verify the legitimacy of your transactions.”

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