Another breach of consumer credit card information was reported by Hudson’s Bay, the owner of Lord and Taylor and Saks stores. Hudson’s Bay said “it was the victim of a security breach that compromised data from payment cards that had been used at some stores in North America, and that it had “taken steps to […]
For retail payments there are six protocols in common use – cash, check, credit card swipe and sign, debit card swipe and pin entry, EMV chip and sometimes sign, and mobile payments (using near field communications) with a second form of authentication. Cash and check are less commonly used. Cash payments challenge some of the […]
The poorly planned, poorly executed transition to chip-enabled credit cards claims another victim. This time, it’s not just the everyday American consumers stuck with lackluster security measures and it’s not just the nation’s retailers who have endured costly equipment upgrades while taking on more financial liability. This time, it’s VeriFone – a $2 billion company […]
This FORBES piece discusses the need for better credit card security and the reason why Walmart is suing VISA. It can be read online at FORBES.
This piece published in Forbes sets the record straight about Chip and PIN credit cards.
The ongoing discord between retailers and the banking industry highlights the disagreement regarding payment cards and where the technology is headed. While the financial industry often deflects calls for improving credit card security by conjuring up the prospect of a mobile and biometric payment world, those days are too far from now for us to […]
This piece discusses the finance industry’s decision to move to chip and signature credit card verification instead of more secure chip and PIN technology. To read why this decision is bad for consumers, visit the Hill’s Congress Blog.
This time last year, I was warning consumers about the “elephant in the room” during the holiday shopping season. The “elephant” I was referring to was the alarming lack of security whereby consumers had to rely on outdated magnetic stripe and signature credit cards to protect their personal information. Since then, an October 1st deadline […]
In early October, the nation’s premier law enforcement agency, the Federal Bureau of Investigation (FBI), issued a consumer protection advisory regarding new microchip equipped credit and debit cards that warned consumers the new cards with chip and signature technology may not be as secure as they have been led to believe. But within hours, that […]
(WASHINGTON, DC) After today’s second House of Representatives Committee on Small Business hearing on the transition to EMV payment cards, Steve Pociask, President of the American Consumer Institute Center for Citizen Research, issued the following statement: “I once again thank Chairman Chabot, Ranking Member Velazquez, and the House Committee on Small Business for holding another […]