Identity, Security, Payments, Biometrics, Smart Cards and Authentication News

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. [end] 

Related Articles
South Africa expands smart ID card pilot

The South African Ministry of Home Affairs announced the expansion of its smart ID card pilot program, reports IT Web.

According to Home Affairs director-general Mkuseli Apleni, the smart ID card program is part of an effort by the national government to shed its racist past and create one identification card for all citizens. It will replace the current civic and immigration identity systems and capture demographic and biometric data of all South Africans and foreign nationals.

read more »
South Africa pilots smart card-based national ID system

The South Africa Department of Home Affairs announced a new plan for its smart card-based national identity system that will eventually replace the current civic and immigration systems, according to Business Day.

read more »
Georgia pilots identity authentication to fight tax fraud

The state of Georgia has enlisted the help of LexisNexis to start a pilot program that utilizes identity verification and authentication tools to combatting tax fraud, reports Accounting Today.

read more »
Report: Customers, not banks, are best at spotting fraud

Bank customers are responsible for detecting fraud 82% of the time, according to Information Security Media Group’s 2012 Faces of Fraud Survey.

Banks responding to the survey reported that the three leading causes of fraud they experienced were card-not-present – 56% – data breach at a retailer or processor – 53% – and point-of-sales skimming – 47% – all root causes over which the consumer has very little control.

read more »
UAE banks taps Gemalto for EMV

Union National Bank (UNB), one of the United Arab Emrite’s banks, partnered with Gemalto to introduce the Optelio payment cards for its EMV migration. The bank is converting its entire portfolio of debit and credit cards to Dynamic Data Authentication smart cards.

read more »
FSS introduces EMV/smart chip program for U.S. banks

Financial Software & Systems (FSS) announced a new program - Smart Start - which aims to enable U.S. card issuers to implement smart card technology into their operations in less than four months.

read more »

Copyright © 2012, AVISIAN, Inc. All rights reserved.