BankTech

MagTek offers free queries to fraud prevention database, Orange Cash NFC mobile payment service launches in France, New York DFS virtual currency hearings, Online/Mobile banking hardest hit by cyber criminals, Payment News

MEDICI

Payment Industry News for today from our News Aggregation wing:

1. Mobile Payments Today - Magtek offers free queries to fraud prevention database

Magtek, a Seal Beach, California-based provider of secure payment technology, announced this week it will provide merchants with free access to its card authentication database, which stores the unique magnetic-stripe "fingerprints" of genuine payment cards. The company says the recent breaches of cardholder data at numerous U.S. merchant sites prompted it to share its database of magnetic-stripe fingerprints free of charge with the merchant community and law enforcement agencies.

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2. Payments cards & mobile - Orange cash NFC mobile payment services launched in France

Orange and Visa Europe announced the commercial launch of Orange Cash in Caen and Strasbourg, two of the cities with the highest use of contact-less payments in France. With the launch Orange becomes the first mobile network operator in France to offer NFC mobile payment to its customers.

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3. Virtual currency report - New York DFS virtual currency hearings point to new "Bitlicense" law

Late last month, New York Department of Financial Services (“DFS”) Superintendent Benjamin Lawsky (“Lawsky”) (accompanied by DFS Assistant Deputy Superintendent Maria Filipacas, General Counsel Danny Alter, and Deputy General Counsel Dana Syracuse) presided over two days of virtual currency-related hearings.

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4. Payments Business - Online/ mobile banking hardest hit by cyber criminals: Trend Micro report

Online banking and mobile operating systems have been the fields most affected by malware in 2013, according to a new security threat report by Trend Micro.

The report indicates that online banking malware directly targeting victims’ finances has intensified globally in 2013, while prolific ransomware has increased and evolved throughout the year.

The same source points out that, online banking malware was detected in countries that had not been previously targeted, increasing not only in number, but spread across the globe.

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MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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