Are Mobile Payment Apps Safe?

A recent study noted that almost half of the world’s credit card fraud takes place in the U.S., although we only account for a quarter of the global credit card volume. Many experts attribute this disparity to the fact that the U.S. has lagged behind the rest of the world...

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The Future of Contactless Payment Systems

Last year’s major reveals from innovative companies (like Apple and Google) introduced several products to the technological realm. Apple alone revealed four different products last year: two versions of the iPhone 6, Apple Pay and the Apple Watch. Apple Pay allows consumers to pay for purchases without having to swipe...

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What the BuySecure Initiative Means for Consumers

President Obama signed a new Executive Order dubbed the “BuySecure Initiative,” which orders the federal government to lead by example in securing transactions and sensitive data. The plan is aimed at improving the federal government’s payment security protocols, and accelerating the transition to stronger security technologies and payment tools. Here’s what...

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EMV Credit Card Fraud Already Present

Three U.S. financial institutions recently reported that they were flooded with fraudulent credit and debit card transactions. What was particularly strange was that this happened despite the fact that the charges were attributed to the newer, more innovative, and much more secure, chip-enabled cards. Although the charges showed up as coming...

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Protecting Credit Cards from Online Data Breaches

Last year when the first major retail chain had its credit card files breached by hackers, it made headlines. Reporters followed the story for months, and when another breached happened at a different company, it was even bigger and made more dramatic news. Recently, though, the cyberattacks are happening regularly, and...

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BoA

November 18, 2014