How Does the Blockchain Work ?

How Does the Blockchain Work ?   Each transaction is a digital ‘block’ that needs to be verified before it’s allowed to enter the system. Questions include: Is the money there? Are sender and receiver reputable? Is the request legitimate? And so forth. Each computer on the network competes on unscrambling the answers, and the […]

Argentina: comercios denuncian a empresa propietaria de Visa por monopolio

La Cámara Argentina de Comercio (CAC) denunció “por abuso de posición dominante” a la empresa Prisma Medios de Pago (propietaria de Visa), ya que tiene el 80% del mercado de tarjetas de crédito y el 72% de débito, con una situación de privilegio en todos los segmentos: otorgamiento de licencias para operar con la marca […]

Analisis de Costos de Tarjetas de Credito (por Banco) en Panama

Mensaje de ACODECO: En este mercado hay gran variedad de productos, con características adecuadas al perfil del tarjetahabiente, por lo que recomendamos a los consumidores que desean adquirir tarjeta de crédito o que ya poseen alguna, evaluar la que se ajuste a sus necesidades, le brinde mayores beneficios y procurar siempre mantener un buen manejo […]

Time to update ISO8583 in card payment transactions?

The messages used in card payment transactions are still based on the ISO8583 messaging standard originally published in 1987. The standard has of course been updated on a number of occasions (1993, 2003) though the latest version has not become widely used. Perhaps some time in the future we will get a widely used standard […]

Phone Scams Rise 30% as Bank Fraud Goes Low-Tech

With today’s financial institutions ever-watchful about potential electronic security events across banking channels, fraudsters are becoming more creative in the ways they try to get sensitive information from people, including FI call center employees. Part of the reason for this shift is FIs’ desires to provide an easy, pleasurable customer experience, which can create unintended […]

The top 5 Myths of EMV

Top 5 Myths : Myth #5: It’s going to cost me to upgrade to EMV. Myth #4: There’s no real benefit for consumers. Myth #3: My business is too small. Myth #2: Fraud is just going to shift to online shopping. Myth #1: EMV is the answer to card fraud! If you’re trying to decide […]

Texas Wants to Require Photo ID for All Card Present Transactions

A bill in the Texas State Legislature would require merchants to ask for photo IDs from anyone looking to make a purchase with a credit or debit card. The bill number is HB3522. Sec. 604.153. REQUIRING PHOTO IDENTIFICATION FOR CARD TRANSACTION. (a) A merchant may not accept a card for payment in a point of […]

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