ALTO GLOBAL PROCESSING: Consumers Blame Merchants For Data Breaches

What’s Next In Payments®
7:15 AM EDT June 30th, 2014

With recent news of major security breaches involving retailers like Target and Sally Beauty populating media sites around the nation, merchants and issuers are likely wondering how this is affecting U.S. consumer behavior as a whole – and rethinking their own security strategies. Just how aware are consumers of these incidents, who are they putting at fault?

To get more insight on these questions, TSYS released an infographic titled “Consumer Insecurity About Data Insecurity,” highlighting the results of a survey conducted with more than 1,000 respondents.

WHO IS AWARE OF RECENT DATA SECURITY BREACHES?

About 83 percent of respondents said that they were aware of these incidents and 75 percent said they heard about them through media coverage.

WHO DO CONSUMERS HOLD RESPONSIBLE?

Consumers, about 64 percent, indicated that they held merchants responsible for these breaches, while 28 percent said the banks and card networks were at fault. However, 67 percent said they expected their banks and card networks to notify them when these incidents occur. And when it comes to making up for the damage and making the situation right, 61 percent of consumers said that it was up to the banks and card networks.

HOW ARE CONSUMERS RESPONDING?

Of those who responded to the TSYS survey, 88 percent said that consumers should play a role in protecting themselves against these breaches. Some, about 31 percent, said that they were willing to pay for added security features. In addition, half of the cardholders surveyed were interested in a specific four of these features.

Respondents who said they would switch banks for one that offered better security features totaled to 63 percent, and 71 percent said they’d switch banks for one that guaranteed all losses would be reimbursed.


Learn more about the study and get a prescription for issuer success in the TSYS white paper available in late July. 

Source: http://www.pymnts.com/news/2014/consumers-blame-merchants-for-data-breaches/#.U7F8zY1dWkY

Please visit http://www.pymnts.com/ for more payment news!

For more information on this please feel free to contact Luca Bizzotto, CEO of Alto Global Processing

Please visit Alto Global Processing

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Alto Global Processing: Russia To Introduce National Payment Card

The Central Bank of Russia has revealed plans to launch a national payment card that will both rival Visa and Mastercard and create more choice for consumers, according to the country’s officials.

The card, which is the first of its kind in Russia, will use technical infrastructure provided by one of the country’s existing payment systems, with Sberbank’s Pro100 and Zolotaya Korona both being considered as partners. The latter, which means “Golden Crown”, was developed by the Centre of Financial Technologies Group, based in Russia. The chosen operator will clear payments made within Russia using the national card system, but the card will also be valid for payments abroad.

The move was welcomed by Russian Prime Minister Dmitry Medvedev as a way of giving Russian consumers more choice. However, it has also been interpreted as a reaction to financial sanctions imposed by the US over the Ukraine crisis, which led to Visa and Mastercard blocking card operations by Rossiya and SMP banks. Both institutions have been blacklisted by the Obama administration due to close ties between their key shareholders and Russian President Vladimir Putin. In addition to competition created by the national payment card, new rules mean that Visa and Mastercard will have to place collateral deposits into special accounts created at Russia’s Central Bank in order to continue operating in the country.

The national payment card system operator is undergoing state registration,” said Elvira Nabiullina, the Central Bank’s chief. “We have a roadmap for infrastructure development and the Central Bank has set up a commission composed of MPs, senators and government members for finding technological solutions.”

Source: http://www.paymenteye.com/2014/06/20/russia-to-introduce-national-payment-card/?utm_source=PaymentEye+Daily+Newsletter&utm_campaign=bf9e1621ce-20_06_2014&utm_medium=email&utm_term=0_3bd2a3a3c5-bf9e1621ce-14476705

Please visit http://www.paymenteye.com/ for more payment news!

For more information on this please feel free to contact Luca Bizzotto, CEO of Alto Global Processing

Please visit Alto Global Processing

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Safari In iOS 8 Uses Camera To Scan and Enter Credit Card Info by JORDAN KAHN of 9to5mac.com

In iOS 8, Apple has a new feature in Safari that allows users to scan a credit card with the device’s camera rather than manually entering the number when making a purchase online.

When entering a credit card number into a form online to, for example, make a purchase, Safari already allowed users to quickly select credit cards stored in its Passwords & AutoFill settings. You can still do that, but in iOS 8 you’ll now also have the option to select “Scan Credit Card” and snap a picture of the card. Apple then uses optical character recognition of sorts to input the number into the text field in Safari. There’s also a way to scan and save cards using the camera directly from within the Passwords & AutoFill settings.

Website developers don’t have to do anything to enable the feature, as Safari appears to automatically detect when a credit card number is being requested and presents the option to scan above the keypad.

Written by:   @JordanKahn for http://9to5mac.com

Source: http://9to5mac.com/2014/06/05/safari-in-ios-8-uses-camera-to-scan-and-enter-credit-card-info/

Please visit http://www.paymentsnews.com/ for more payment news!

For more information on this please feel free to contact Luca Bizzotto, CEO of Alto Global Processing Please visit Alto Global Processing

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