Financial institutions have been attractive hacking targets for many years, and this attention has not diminished with the addition of cloud and mobile technology. FinTech emerged in the 21st century as an industry that uses technology to make financial services more efficient and is now valued as a $35 billion industry (2018). As information is more readily available to consumers, financial companies have only become more desirable to attackers. The stakes continue to grow as far greater losses and penalties have the ability to cause a lot of damage if security is not taken seriously.Nowadays there are security practices put in place by industry to help financial companies remain compliant (such as the Payment Card Industry Data Security Standard, PCI DSS). I sat down with Kunal Bhattacharya to discuss what he is doing at Credit Karma to help keep the FinTech company secure. He also shared his thoughts on the critical importance of security testing for financial technology … [Read more...] about Why security testing is a core business value for FinTech?
Payment card industry data security standard
In a relatively short space of time, the focus on cyber security has grown from an ‘optional extra’ among businesses – something they could either take or leave, without putting too much thought into the wider consequences – to an absolute necessity. From the NHS ‘WannaCry’ attack to the TalkTalk data breach, we seem to read headlines about cyber attack-related incidents all the time, and as a result we are more aware than ever of why staying protected is so necessary.The consequences of not doing so can be crippling. Indeed, cyber crime is set to cost businesses around $6 trillion globally by 2021. Another startling statistic found that nearly half of UK businesses suffered a cyber attack in the last 12 months, “according to a new government survey of more than 2,000 organisations”. Despite the incredible scale of these attacks, the vast majority of them look the same. Whether it’s a DDoS attack, a phishing scam … [Read more...] about Why VoIP encryption must be factored into the wider cyber security debate
DUBLIN--(BUSINESS WIRE)--May 3, 2018--The "Global Payment Security Market By Type (POS, Web & Mobile), By Component (Solutions Vs. Services), By Solution (Antivirus & Firewall, Data Encryption, Tokenization & Others), By End User, By Region, Competition Forecast & Opportunities, 2012-2022" report has been added to ResearchAndMarkets.com's offering.Global payment security market is forecast to exhibit a CAGR of nearly 14% by the end of 2022, on the back of increasing number of cyber attacks and data breaches, worldwide.Growing popularity of payment security solutions and services can also be attributed to the requirement of following Payment Card Industry Data Security Standard (PCI DSS) guidelines, government initiatives towards promoting the cashless mode of payments, and increasing awareness among end users towards payment security.Moreover, growth in the number of digital payments such as credit/debit payments, mobile wallets and online payments is also expected to … [Read more...] about Global Payment Security (POS, Web & Mobile) Market, Competition Forecast & Opportunities, 2012-2022
ATLANTA--(BUSINESS WIRE)--Apr 24, 2018--Elavon, a leading global payments provider and subsidiary of U.S. Bancorp (NYSE:USB), today announced its Safe-T Link ® with P2PE Protect received validation as a Payment Card Industry (PCI) Security Standards Council TM Point-to-Point Encryption (P2PE) TM solution. Receiving this level of validation gives Elavon customers the strongest encryption protection by making data less valuable if stolen. The validation underscores Elavon’s commitment to be the most trusted choice for businesses looking for a payments partner.Adding to Elavon’s Safe-T Security Solutions, Safe-T Link with P2PE Protect helps protect businesses from the increasing number of complex breaches, as well as assisting businesses with managing card industry data protection mandates and reducing the high costs associated with maintaining PCI compliance.According to the Identity Theft Resource Center, in 2017 there were 1,579 breaches with nearly 1.8 billion records … [Read more...] about Elavon Gives Customers and Partners Enhanced Protection from Data Breaches with PCI Point-to-Point Encryption (P2PE) Validation
With technology increasingly intertwined with all aspects of business, [email protected] can help you -- prosumers to small businesses with fewer than five employees -- get started.When Corey Mullins first decided to find a credit card processor for his Louisville, Kentucky-based landscaping business, it was all about name recognition. "In terms of research, I did none essentially," Mullins said. "I basically decided I needed to do it and just chose a provider that was all the rage at the time."As Mullins would eventually discover, credit card processing is all about the details. A reliable credit card-processing service is essential to the livelihood of a small business, but with so many options out there it can be difficult to figure out which one makes the most sense for your particular business needs.For the uninitiated, a payments processor acts as the link between your business and the banks, issuers and credit card networks. Whether you plan to take payments online or in-person, a … [Read more...] about 5 things to consider when picking a credit card processor