Target’s announcement of a credit card breach right before the holidays made the company the butt of late night talk show jokes and the master of the world’s worst timing. Affecting 40 million credit and debit cards (and involving the theft of myriads of PIN numbers), the breach has altered the shopping habits of Americans and has the potential, to cost Target an estimated $680 million in litigation fees, customer notifications, replacement cards, and the sorting of legitimate charges from fraudulent charges. Of course, the amount it could cost them in lost business may be almost immeasurable.
How it Happened While no one but the actual hackers know for sure what [...]
EMV smart cards have the same dimensions as a standard credit card, but don’t judge a piece of plastic by its size. The EMV cards guarantee a more secure way to shop, greatly reducing the risk of counterfeit and fraud, both in stores and online. Instead of using the standard magnetic stripe, a small microprocessor chip is embedded into the EMV cards. Criminals have a much harder time picking up useful payment data from EMV transactions, because information is encoded uniquely everytime. Cards with magnetic stripes contain “static data” that never changes, so anyone can easily take your information and create a fake card.
A second layer of protection is also provided through [...]
If you own a business, the ability to accept credit card payments is a big deal. Fortunately, there are a variety of credit card processing companies that can pave your way to success. Before you start accepting payments on a frequent basis though, it’s crucial to understand chargebacks, also known as customer disputes. Keep reading to get a rundown on the basics and be introduced to a new website that could make things even easier.Chargebacks Protect Customers
Although you may not think you’re completely certain about what a chargeback is, there’s a good chance that you’ve made one at some point in your life, even without knowing the formal definition. Specifically, if [...]
Boku is known for letting consumers pay for online services by adding the charges to their mobile phone bill. Now they are bringing that system to the brick and mortar checkout counter. You will be able to wave your phone over a payment terminal and have the charges appear on your cellphone bill,…Boku, phone, mobile phone bill, credit cards, boku account, cellphone bill, boku president ron, loyalty rewards programs, purchases, tech news site, phone number, payment, mortar checkout, NFC sticker, payment terminal, NFC technology, brief reply, everyday purchases, near-field communication [...]