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Today, Merchant Link announced that it has named Geoff Krieg vice president of product management. Krieg has over 20 years experience and formerly served as Merchant Link’s Director of Service Delivery.
Following is an exclusive podcast with Krieg who discusses the rapid evolution of payment tools, technologies and channels as well as the types of products and strategies merchants should be adopting to keep pace with the current landscape.
James Horak has unusual and important knowledge in the following areas: 1) Extraterrestrial life;
2)Giant Electromagnetic vehicles operating in our solar system;
3)Highly advanced previous civilizations that are operating on the earth called original terrestrials;
5)The secret hidden world government;
Jeff W Albert Presents Monavie with Darryl Utterbach.
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Combating fraud is easy when you are fully aware of the types of scams out there and how to avoid them. To make sure you’re the first to know about new scams - or old ones with a new twist - be sure to sign up for Visa Fraud News Alerts. Visa will keep you up-to-date and at the cutting edge, ensuring the latest information and fraud-fighting techniques are always at your fingertips. Here are a few of the latest headlines:
EMV chip cards gaining momentum in the United States
Have you heard about chip cards or EMV chip cards? Many people haven’t yet, but may soon start hearing the buzz. As this video explains, EMV chip cards have a tiny computer chip embedded in them that helps make them more secure from cyber hackers. The chip securely stores payment data that currently reside on the magnetic stripe, and enables more secure processing by generating a one-time-use code for each transaction. These features make EMV chip card data nearly impossible to counterfeit and, eventually, a less attractive target for criminals to steal.
Back in August 2011, Visa set a plan for financial institutions and merchants to begin switching to chip cards in the United States. The industry analyst Aite Group projects that by the end of 2015, 70 percent of U.S. credit cards and 41 percent of U.S. debit cards will feature these new chips. That means consumers are going to start experiencing this new technology soon.
For latest headlines and related news, visit our page here: Visa Security Sense - Fraud News
I’m not much of a Nostradamus, but one thing I can predict with near certainty is that this time next year we are likely to find ourselves witnessing an all-time high in the rate of online credit and debit card fraud. Ironically, that surge in online theft will be the result of efforts to make the offline use of credit and debit cards more secure.
By Oct. 1 of next year, retail establishments are supposed to be able to accept new credit and debit cards that have a chip embedded and require the use of a PIN when making purchases at the checkout counter. The point is to make the cards smarter so that financial institutions can better detect fraudulent usage. Requiring a PIN clearly adds a layer of identification and protection that can deter such fraud.
How do we know that this effort to increase security at the point of sale is going to actually drive online fraud? We already saw it happen in Europe.
In 2002, European financial institutions starting rolling out these very same cards and point-of-sale terminals. We call this technology EMV (Europay, MasterCard and Visa). Financial institutions intend to make EMV a global standard for authenticating credit and debit card transactions using integrated chip technology.
This technology has now been partially or fully deployed in about 14 countries and regions, including most Asian Pacific nations, all of Europe, most of Latin America and the Caribbean. Every country and region in which EMV has been deployed has seen a corresponding surge in online fraud.
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