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Posted: Feb 10, 2016
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Author: Lou Grilli

Part 2 of a 3-Part Series

This is article 2 of 3 in the series “Tokenization, Encryption, EMV, and Biometrics: The New Superheroes of Payment Fraud.” In Part 1, we reviewed tokenization, its background, and how it is now being used in mobile wallets. It is also good to gain a deeper understanding of EMV and its use of encryption to protect payment credentials. EMV is a technology and a solution designed to prevent card counterfeit fraud.

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Posted: Feb 1, 2016
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Author: Lou Grilli

Part 1 of a 3-Part Series

Introduction

Many credit unions have asked us which is better, tokenization or encryption; or which is more secure EMV or NFC?  Focusing on these questions might not be the best approach. All of these technologies are different pieces of the puzzle intended to help fight fraud. Chip cards, tokenized mobile payments and fingerprint scans all play important roles in making data breaches less valuable to fraudsters, thereby reducing issuers’ costs when breaches occur. Since there is much ground to cover on this topic, we decided to divide the content into three parts.  First up, Tokenization.

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Posted: Jan 19, 2016
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Author: Lou Grilli

The U.S. House Financial Services Committee recently passed the Data Security Act of 2015. The bill has some positive implications to credit unions and financial institutions, but does present some challenges for state privacy laws and small businesses. The act would establish consistent standards nationwide for data security requirements and data breach notification requirements.

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