RegardingID Archive | South African banks start smart card option to combat card fraud

Thursday, January 17, 2008

South African banks have launched a microchipped smart card in an attempt to curb credit and debit card fraud. Smart cards, fitted with new technological features, are able to store information in such a way that it can only be accessed by the cardholder. The smart cards still have the magnetic swiping strip for merchants who have not yet upgraded to the new contactless terminals. Business owners interested in replacing their existing debit and credit cards with smart cards can approach their local bank for assistance.

Read the full article here.

South Africa makes another attempt to implement smart cards

The South African Department of Home Affairs plans to once more try to implement a smart card-based ID program, reports defenceWeb.

Its original smart ID pilot, planned for 2008, was postponed and the entire program scrapped last year because, according to Home affairs minister Nkosazana DIamini-Zuma, the department used the project’s allotted funds elsewhere.

Clarity Services enlists Experian for identity verification and fraud detection

Clarity Services, a provider of thin-file and underbanked consumer data reporting, has called on Experian to provide identity verification and fraud detection services for its subprime market product.

Singapore sets mandates for ATM cards with smart chips

In an effort to reduce fraud, the Association of Banks in Singapor announced that it has set guidelines regarding the implementation of smart chips in ATM cards in Singapore.

Former Google SA CEO calls NFC payment trials 'farcical'

Stafford Masie, entrepreneur and former CEO of Google South Africa, has criticized local banks’ recent efforts to pilot NFC payments as “farcical,” asserting that NFC payments are “complex and unnecessary” and will remain a niche technology, reports TechCentral.

Morpho brings new technology to South Africa

Morpho has announced it is bringing one of its latest biometric offerings to South Africa via its South African distribution partner Ideco Biometric Security Solutions, according to am IT Web article.

Gemalto's instant issuance services aim to speed up U.S. EMV migration

Digital security provider Gemalto has launched Dexxis EMV instant issuance card product, designed to streamline and speed up banks’ migration to EMV by bringing card issuance processes in-house.

Subscribe

Print Magazine

Featured Events

Links

Searching …

South African banks start smart card option to combat card fraud