No thanks, stay here.  

  We notice you are visiting from a U.S. Internet provider. Switch to our U.S. website.

Industry News

Chip and pin not cure-all for PCI compliance, expert says

By Kristen Lawrence

22/02/2010 - While chip and pin technology has managed to reduce the number of payment processing fraud incidents, it is not a panacea for PCI compliance, reminded payment processing security expert Walter Conway.

Conway, in an article for StorefrontBacktalk.com, urged businesses whose merchant services include chip-and-pin-enabled POS terminals to still prioritise payment processing security, noting that "there is no such thing as absolute security."

"Retailers and consumers worldwide - especially those in Canada who are currently implementing chip and pin - need to understand this fact and not count on any single technology to remain secure," he added.

This is because employees may still process smart card transactions as chip and pin, and some cards - especially those from other countries, such as the U.S., that have not yet unrolled chip and pin technology - still rely on easily-compromised magnetic stripes.

In addition, Conway notes that the cloning of chip cards may not be far behind, also referencing the recent U.K. research that found an exploit in chip and pin transactions.

Regardless of the type of POS terminal they use, merchants are urged to invest in their payment processing security by having frequent PCI audits and implementing a layered approach to security.ADNFCR-2514-ID-19630318-ADNFCR

Related News - Point-of-Sale Terminals

Toronto pursues flexible transit payment system

28/07/2010

The Toronto Transit Commission continues to prepare a new payment scheme that would allow riders to pay fares by tapping their debit or credit card on a contactless reader, rather than forcing customers to swipe at credit card machines, the Globe and Mail writes.

Full Article

Contactless point-of-sale terminals gaining popularity

20/07/2010

A new trend in the UK could mean big changes for point-of-sale terminals worldwide.

Full Article

Visa launches prepaid card campaign

16/07/2010

Visa is telling consumers in the U.S. to swap their cash transactions for credit card machines.

Full Article

Consumer confidence is on the rise

12/07/2010

Payment services providers may see an increase in business as consumer confidence about the country's finances - and their own - increases.

Full Article