EMVCo released EMV Secure Remote Commerce Specification v1.0. The specification "provides a foundation that will enable the processing of ecommerce transactions in a consistent, streamlined fashion across a variety of digital channels and devices,” EMVCo wrote in a statement. Karteek Patel, chair of EMVCo’s Executive Committee, said, “The continued growth of global ecommerce requires reinforcing consumer convenience and confidence in payments.”
A ruling by Circuit Court Judge Deborah Cook upheld the U.S. District Court of Appeals for the Western District of Tennessee's decision to hold First Data Corp. liable for damages stemming from two data breaches at Spec's Family Partners Ltd., a liquor store chain and First Data merchant. The unanimous decision by the District Court found that First Data's decision to freeze millions of dollars in credit card receivables violated the terms of the merchant's processing agreement.
It's a collaboration that could be described as a marriage of social media and payments: Libra, a cryptocurrency being created by Facebook and a team that includes Mastercard, Visa and PayPal. But the plan is getting blowback from lawmakers.
Two nationwide POS outages disrupted Father's Day weekend sales at Target Corp. Target CEO Brian Cornell attempted to minimize the damages in an interview on CNBC, stating, "Within a couple of hours, our teams were able to identify the root cause and push the fix to our stores and get us back up and running." However, retail analysts have estimated the weekend's down time could mean up to $50 million in lost revenue for Target.
As consumers share more and more information on social media, security advocates recommend updating privacy settings on mobile apps and social media platforms. Failure to do so may expose more details than most users would want to share. Indeed, hacktivist Dan Salmon uploaded 7 million Venmo transactions to GitHub.
Members of the U.S. Congress are reviewing a bill designed to stop online platforms from misleading consumers on apps and websites. The Deceptive Experiences To Online Users Reduction (DETOUR) Act is aimed at ending “dark patterns,” a term that covers a variety of practices designed to trick consumers into handing over their data. If passed, the legislation would enable the FTC to enforce compliance.
Ingenico Group introduced a line of antimicrobial terminals designed to inhibit the spread of infectious diseases at the POS. The customer-facing Lane/7000 AM smart terminal and portable Moby/M70 AM tablet POS are injected at the factory with a chemical additive to protect consumer health and extend equipment lifecycles, the company stated.
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