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Table of Contents

Lead Story

Advisory Board: Assessing the U.S. EMV rollout - Part 1


Industry Update

PCI SSC delivers data breach guidance

AFP finds strong interest in electronic B2B payments

Chinese hackers breach LoopPay

New Yorkers round up to close hunger gap

Commodities traders toss rulebook at Coinflip


The outlook for EMV

The Mobile Buzz: Emerging phablet phenomenon


The very point of sale: EMV's teachable moment

Dale S. Laszig
DSL Direct LLC

Through The Fires, the autobiography of Robert Owen Carr

Brandes Elitch
CrossCheck Inc.


Street SmartsSM:
After the deadline, MLSs share thoughts on EMV - Part 2

Jeffrey I. Shavitz
TrafficJamming LLC

Reconciliation and settlement systems

Chandan Mukherjee
PayCube Inc.

The liability shift is here - now what?

Michael Gavin

Company Profile



New Products

A platform to protect, enhance critical infrastructure

ThetaRay Analytics Platform

Safe, simple, efficient online checkout



Go forth and find your fortune


Letter From the Editors

Readers Speak

Resource Guide


A Bigger Thing

The Green Sheet Online Edition

October 26, 2015  •  Issue 15:10:02

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Readers Speak

Probing mobile app security flaws

How secure are mobile-payment apps, and who makes sure the companies behind them are doing all they can to keep merchant and consumer data safe? The Clearing House, an advocacy group owned by the world's largest commercial banks, is raising those questions and others in a new report titled Ensuring Consistent Consumer Protection for Data Security: Major Banks vs. Alternative Payment Providers (

The report argues that while these providers are subject to some data-security requirements, they don't face the more extensive regulatory oversight banks do when it comes to cybersecurity. That makes it easier for security flaws to go undetected until a breach actually happens.

I recently interviewed Gary Miliefsky, Chief Executive Officer of SnoopWall, a company that specializes in cybersecurity (, and I believe his insights would be of interest to your readers. "These alternative-payment methods certainly are providing something that consumers want, which is a convenient way to make payments," Miliefsky said. "But I don't think most of those consumers would be too thrilled to know that these companies might not be subject to the same demanding data-security requirements their banks deal with." Waiting to act after a breach happens is too late, because at that point, customers are at risk of becoming victims of fraud or identity theft. "Unfortunately, a lot of companies don't realize just how vulnerable their apps are and what the potential is for leaking their customers' personal information," Miliefsky noted.

In its report, the Clearing House made several recommendations and observations, including these related to legislation that would establish additional data-security requirements for alternative-payment providers:

If they aren't already, and regardless of any proposed legislation, the alternative-payment providers should look into better ways to protect their mobile apps from hackers intent on doing harm, Miliefsky said. "These alternative-payment apps are a great convenience," he said. "But if they aren't secure, the result could be a huge inconvenience for their users."

Brittany Thomas, News and Experts


Thank you for bringing this to our attention. If they haven't already done so, our readers will want to alert their merchant customers to potential data security issues associated with the mobile apps they may use.


Sound off

Would you like to alert our readers to important issues in payments? Let us know at

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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