Monthly Archives: August 2013

Contactless payment, Visa wavepay, RFID payments

During the course of the last 12 months consumers in the UK have made some 51 million contactless purchases totaling £338 million according to Visa Europe, which is a five-fold increase on the year before.

There are now 28 million contactless Visa credit, debit and prepaid cards across the UK, allowing users to make purchases of under £20, without having to give their PIN, by simply touching their card at a payment terminal.

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Bank mis-selling, Bank mis-sold, Bank mis-selling scandal

Millions of Brits are said to be in line for payouts as banks are hit yet again by another mis-selling scandal, this time relating to credit card and identity theft insurance sold with their credit card products.

The total amount of payouts is estimated to be 1.3bn and the process of paying the 7m customers who bought the policies back will begin after the August bank holiday, where customers will start to receive letters advising them on how they go about getting their compensation.

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A mother and son team, Kyah Green and Luis Flores, have been accused of running up thousands of dollars of debt in the names of Hollywood celebrities, managing to apply for and get credit cards in their names.

When authorities searched the Flordia home in which the pair live they found credit cards for Kim Kardashian, Paris Hilton, Mel Gibson, Tom Cruise and Beyonce, amongst others.

And it wasn’t just celebrities,

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Credit Card Skimming, Credit Card Fraud, Card Skimming

A man who attached a skimming device to a ticket machine in a bid to steal credit, debit and prepaid card details from passengers at Highbury and Islington tube station has been jailed.

Petru Cercel, 34, was given a 16-month sentence after he was spotted loitering around and returning to the ticket machine by a plain-clothed British Transport Police officer.

The man, who was seen revisiting the machine several times before officers approached to arrest him,

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Facial Recognition Payments, Facial Recognition Terminal

Uniqul, a technology start-up from Finland, has launched a tablet-based facial recognition payment platform, making it the first of its kind anywhere in the world.

The company, who claim that their patent pending technology is protected by what they call “military grade algorithms”, have already started taking registrations by customers, ahead of the introduction of their terminals in Helsinki which is set to take place shortly.

Uniqul’s facial recognition will allow consumers to pay for shopping or services once they have registered with the firm simply by standing in front of the terminal,

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Credit Card Theft, European Credit Card Theft, Credit Card Black Market

The Washington Post published an article recently after looking into credit card fraud and the trade of stolen card numbers online, finding that stolen European credit cards are five times more valuable than those from the US – with European card details going for around $50 USD each, and US ones closer to just $10 USD.

Why is this the case, and why are European cards more sought after by fraudsters? Well, the first reason is oversupply of US card details.

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Visa Inc. And MasterCard have announced an agreement to license their respective common US debit solutions to each other in a collaboration that is designed to best streamline US chip debit transactions through a number of unaffiliated networks.

Chris McWilton, president for the North America region at MasterCard said of the move that "This represents our continued commitment to advance the adoption of the most advanced payment solutions and security standards in order to deliver maximum value to merchants,

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