What's New in Payments

Visa reports 80% drop in card-present fraud at US chip-enabled merchants

Chip technology helped reduce counterfeit fraud by 80% — Visa — “Since the EMV shift, the adoption of chip technology has reduced card present (CP) counterfeit payment fraud by 80% at chip-enabled merchants… Over 3.1m merchant locations are now accepting chip cards… 98% of overall US payment volume in December was on EMV cards.”



NFC World

Luxochain to use NFC and the blockchain to guarantee the authenticity of luxury goods

Luxochain combats counterfeiting with launch of authentication and tracking service of luxury goods on the blockchain — Luxochain — “At the stage of manufacture, all authentic luxury products will be fitted with an invisible and encrypted serial number (a Block ID). The ID is associated with a token that is uniquely identifiable, to which luxury brands will register on the blockchain. Once inputted, the information can never be altered from the outside. Certifying authenticity at the point of sale using blockchain technology, customers can scan the code and ascertain the authenticity of the product.”








NFC World

HID Global supplies RFID tickets to 2018 World Cup

HID Global scores big with smart and secure tickets for 2018 Fifa World Cup — HID Global — PARTNER NEWS — “The 2018 Fifa World Cup ticket is a smart ticket containing a radio frequency identification (RFID) inlay and manufactured with special security papers and integrates several security features designed to prevent counterfeiting and forgery… Attendees can simply tap their tickets to a reader to validate them and gain access to an event, speeding up admissions dramatically in high-volume events such as World Cup matches.”


NFC World

NXP to host NFC for consumables and accessories webinar on 22 February

NFC for consumables and accessories — NXP — PARTNER NEWS — “NFC is a great way to identify and authenticate consumables and accessories in industrial and consumer products. Using NFC helps to ensure that only genuine parts are being used and allows to make adjustments of device settings according to part manufacturer, type and end user preferences. Join us in this session to learn how you can develop your own NFC product authentication solution with NXP products using the NFC Nutshell Kit.”



What's New in Payments

Visa reports 66% drop in fraud at US merchants equipped to accept chip cards

Counterfeit fraud at US chip-enabled merchants down 66% — Visa — “With EMV chip transactions continuing to grow in the US, counterfeit fraud volume decreased 66% at chip-enabled merchants in June 2017 compared to June 2015. US financial institutions have issued 462m chip cards to consumers, and 2.5m, or 55% of US storefronts, accept chip cards.”


What's New in Payments

Half of US stores are now equipped to process chip cards

Chip-enabled merchants up; Counterfeit fraud down — Visa — “As of the end of June 2017, 2.3m US merchant locations, 50% of storefronts, are chip enabled. And with more than 449m Visa chip cards in the country, representing 62% of Visa cards, counterfeit fraud has continued to decline — 58% at chip-enabled merchants in March 2017 when compared to March 2016.”



What's New in Payments

Quantum cheques could be a forgery-free way to move money

Quantum cheques could be a forgery-free way to move money — New Scientist — “Say Alice wants to pay Bob using a quantum cheque. She would have to go to the bank, verify her identity and then the bank would issue her with two qubits taken from its central quantum computer. These qubits are inextricably linked to the remaining qubits within the bank’s central computer – a quality known as quantum entanglement. Measuring the state of any one qubit in an entangled system will reveal the state of all qubits within that system. The bank can use this entanglement to verify that its coffers were the origin of a quantum cheque.”



Synthetic fingerprints make plastic particles tiny security keys

Synthetic fingerprints make plastic particles tiny security keys — New Scientist — “Microscopic wrinkles squeezed onto the surface of tiny plastic particles could be used to create security keys that are impossible to duplicate… The particles could be used to verify a person’s identity instead of them using a security card, or their own fingerprint. The particles could also be fixed to a priceless piece of art so people can be sure it’s the real deal.”


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