Archives / 2016 / March
  • Merchants sue card companies over EMV liability shift

    A group of retailers believe the October 1 EMV liability shift was implemented illegally.

    Just over five months after merchants were required to start accepting EMV cards or the liability of fraudulent charges, retailers have filed an antitrust lawsuit against the nation's largest credit card companies and banks, claiming the liability shift was instituted illegally.

    The lawsuit, initially reported by The Recorder, alleges that the financial institutions conspired to transfer the liability for fraudulent transactions from themselves to retailers, merely using the transition to EMV cards as a mask. What's more, the complaint states that the process to get chip-enabled systems has been marred by technical issues that made it difficult for many merchants to achieve EMV certification by the October 1 deadline.

    "Merchants were not consulted about the change, were not … more

  • Behavior-based biometrics: the future of payment authentication?

    As a piece of unchanging data, fingerprints are not as secure as behavioral metrics.

    Last year, 30 percent of all e-commerce transactions were executed from a mobile device, according to Internet Retailer. As mobile shopping continues to represent a large slice of online sales, card companies are sprinting to develop technology to better protect this new type of card-not-present transaction from fraud. While physical biometric authentication, such as fingerprint or facial scanning, has emerged as the most popular verification method in recent months, some contest the depth of its security.

    More secure than a heartbeat According to Robert Capps, vice president of business development at NuData Security, using a single form of biometric data is no more secure than simply adding a second password. As he explains in an article published in Mobile Payments Today, this … more

  • Google's Hands Free payment app lets consumers pay with just their voice

    With Hands Free, consumers can keep their wallets, and their phones, in their pockets.

    In 2015, the payment technology world set its sights on eliminating the physical wallet from the point-of-sale. Apple Pay, eventually joined by Android Pay and Samsung Pay, together tried to replace the wallet and the swipe of a card with the tap of a smartphone. New innovations in wearable technology hinted at a future in which connected accessories and clothing would eliminate the need for even taking your smartphone out of your pocket or purse.

    Now Google is testing a new "Hands Free" app that allows users to pay using nothing but their voice, leaving the hardware (almost) completely out of the equation. 

    The app still relies on the payers' smartphone for its low-power Bluetooth, WiFi and location services, which help it detect and connect to participating stores. But, … more

by Ty Hardison

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