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To open its EMV® Secure Remote Commerce (SRC) specification for public comment for a 45-day period, securepayments enabler EMVCo has issued a draft version of the specification called version 0.9. The news comes a few months after EMVCo announced the launch of the full EMV 3-D Secure (EMV 3DS) test platform in August.
To stay ahead of fraud means merchants must understand the threats, use trusted and secure providers, and keep up to date on paymentsecurity trends. So, let’s dive into paymentsecurity, touching on the basics of what you need to know to ensure securepayments.
EMV (Europay, Mastercard, and Visa) chip card use has continued to expand in use since its tumultuous rollout in 2015. The EMV standard has now become a global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions. The chip does not affect the price of processing payments.
Visa, the payments company, announced Tuesday (Oct. 23) that it continues to support the draft of the EMVSecure Remote Commerce (SRC) specifications. is expected to define interfaces for the secure exchange of paymentdata and accommodate the use of dynamic data, such as cryptograms.
Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. PAAY provides strong authentication at the front door and Bluefin encrypts and tokenizes the data at the point of interaction on the web. Getting the European Union on the path to 3D Secure 2.0
In simplest terms, payment terminals are the machines used to pay for things using credit or debit cards when you make a purchase in-person. When you buy something at a store and insert your chip card into a machine that uses EMV technology, that’s a payment terminal. However, magstripes are no longer PCI compliant.)
“It’s a slow-moving tide,” he noted, adding that as the industry continues to move forward, there will be a coexistence between magstripe and other payment methods. But even with the introduction of EMV chip–enabled cards, magstripe still brings about its own set of fraud risks. Monetization Of Personal Data.
SHOULDN’T WE BE PROTECTING MORE THAN JUST PAYMENTSDATA? The POS breaches that colored our world in payments starting at the tail end of 2013 set in motion a whole host of activities designed to protect paymentsdata at the physical point of sale. All pure goodness, with two big exceptions.
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