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Semafone Inc. is urging call centers to update their data collection and storage methods. The company surveyed more than 500 call center agents across multiple industries and compiled the findings in The State of Data Security in Contact Centers, published Oct. 30, 2017. When asked about data-security vulnerabilities, 7 percent of survey respondents said people within their organizations have asked them to share confidential customer data; 4 percent stated the same was true of people outside of their organizations.
Separate consumer surveys conducted by Deloitte and the National Retail Federation point to a robust 2017 holiday season ahead for U.S. retailers. The NRF projected total holiday retail sales in November and December could reach $682 billion, up 4 percent from last year, as consumers plan to spend an average $967.13 during the holidays. Deloitte projected holiday spending will average $1, 226 for both gift and non-gift items. Both Deloitte and the NRF found that a majority of holiday shoppers plan to shop online, overtaking mass merchant and department stores.
EMVCo released EMV 3-D Secure – Protocol and Core Functions Specification v2.1.0, an update to version 2.0.0 published in October 2016. The latest version includes enhancements for securing ecommerce transactions across channels and connected devices and will be supported by a new EMVCo testing program for compliant solutions set to launch in 2018. EMV 3-D Secure (3DS) is a messaging protocol that authenticates consumers making card-not-present ecommerce purchases.
New York State Attorney General Eric T. Schneiderman unveiled proposed legislation Nov. 2, 2017, designed to address a data breach epidemic that has roiled New York businesses and consumers. Noting weaknesses in existing state guidelines and infrastructure, Schneiderman said The Stop Hacks and Improve Electronic Data Security Act (SHIELD Act) would update laws and security practices and certify companies that meet exemplary service levels.
Visa Inc. unveiled on Nov. 13, 2013, Visa Global Transit Solutions, a new service designed to create a frictionless mass transit experience. Program organizers expect the service to simplify debit, credit and prepaid acceptance at turnstiles and inside bus readers. Technology companies and transit operators saw live demos this week in London; additional events are planned for New York, as well as for locations in Dubai and Singapore, Visa representatives stated.
With the Feb. 1, 2018, deadline for implementation of the Payment Card Industry (PCI) Data Security Standard (DSS) version 3.2 fast approaching, many payment service providers have already deployed new procedures initially released as best practices in 2016. Simultaneously, a vulnerability identified in Wi-Fi Protected Access 2 (WPA2) protocol has raised security concerns among Android and Linux users.
Global technical body EMVCo released EMV Secure Remote Commerce (SRC) – Technical Framework version 1.0 Nov. 2, 2017, a set of guidelines designed to protect in-app, mobile and ecommerce transactions. In addition to reducing exposure to data compromise, SRC will simplify merchant support by creating a new framework for the remote commerce environment, with consistent roles and methodologies for participating parties that manage payment card data, according to EMVCo representatives.
Security experts are advising companies to secure corporate networks ahead of the holiday season, when employees may be more susceptible to phishing scams and online fraud. Holiday Ecommerce To Hit Record $107B in 2017; Mobile Will Lead in Visits, a report published Nov. 2, 2017, by Adobe Systems Inc., predicts a 13.8 percent increase in online shopping this holiday season, with 80 percent of ecommerce occurring at major retail sites.
A number of companies with links to the payments industry earned Deloitte 2017 Technology Fast 500 awards. The 23rd annual list honored 500 companies headquartered in North America. Selection was based on technology innovation, entrepreneurship and rapid growth. Companies with base-year operating revenues of $50,000 stemming from proprietary product sales in eight categories, and $5 million for the current year, were ranked on percentage growth during the 2013 through 2016 period.
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