As part of its ongoing push toward cashless payments, India is taking steps to ramp up the use of contactless payments, which are already becoming more common in Japan, South Korea, Australia, the U.K. and the U.S. What can be done to balance security vs. convenience?
Forty-three states have reached a settlement with Neiman Marcus over its 2013 data breach, one of several breaches from that period blamed on in-memory malware. The retailer will pay $1.5 million and must use encryption and tokenization to protect card data.
Although the Reserve Bank of India mandated that banks complete the shift from magnetic stripe debit and credit cards to EMV chip-and-PIN cards by Jan. 1 to help reduce fraud, there's still plenty of work to be done.
Following industry standards should not be a compliance-driven, checkbox activity, says the PCI Security Standards Council's Nitin Bhatnagar. "It has to be a holistic approach, and you have to get involved with people, process and technology."
As new payment options continue to emerge via mobile phones and internet of things devices, the PCI Security Standards Council is broadening its security efforts, starting with a new standard for contactless payments coming early next year, says Troy Leach, PCI SSC's chief technology officer.
When taking steps to guard against fraudulent transactions through contactless payments, organizations must carefully balance the level of security versus customer convenience, says Sriram Natarajan, COO at Quatrro.
As the HIPAA security rule turns 20, it's time for regulators to make updates reflecting the changing cyberthreat landscape and technological evolution that's happened over the past two decades, says security expert Tom Walsh.
Many merchants in Japan find it difficult to pass a PCI Data Security Standard audit because the PCI guidelines are changed too frequently, argues Yiochi Ueno, who serves as a Qualified Security Assessor who audits merchants.
New PCI requirements that go into effect June 30 are pushing payment card acquirers, processors, gateways and service providers worldwide to implement more secure encryption protocols for transactions. But are they ready?
Security experts analyze the potential impact of recently announced changes to the PCI Security Standards Council's Qualified Integrators and Resellers Program that are designed to help smaller merchants prevent breaches.
A new standard from the PCI Data Security Standards Council could help ease the way for smaller merchants worldwide, especially in developing nations, to move to cashless payments using a variety of devices, says Troy Leach, CTO for the council, who spoke last week at a conference in South Africa.
The PCI Security Standards Council is offering 40 percent lower fees for participating organizations in nations with lower-income economies. "We want to encourage countries in Africa and South Asia to get engaged with us," Jeremy King, international director at PCI SSC, tells ISMG in an exclusive interview.
The PCI Security Standards Council is creating a payments software framework, including two new standards that can evolve as the software rapidly changes, Troy Leach, the council's CTO, explains in this in-depth interview.