Square Reader Vulnerable to Card Skimming, Bitcoin A More Secure Payment Solution
It is no secret that any type of card reader can be used for both legal and illegal activities. Making credit card payments in most countries involves either the customer or cashier to swipe the card through a card reader. Square, a company, known for its credit card payment processing capabilities, faces some security concerns as far as their Square Reader device is concerned. With technology evolving at a rapid pace, a lot of focus is being put on making the entire payment experience more convenient for customers. As a result of that ideology, applications and hardware have been released....
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ATM Skimming remains one of the most dangerous threats to consumerism all over the world. Bitcoin effectively removes the need for cards and ATMs altogether, and Bitcoin debit cards should only be seen as a temporary measure to spend cryptocurrency. ATM Skimming is a Global Threat. A recent article on KrebsonSecurity showcases a video of how an ATM....
The European ATM Security Team released a new European Fraud Update for 2016. As part of this report, an interesting picture is painted as to how ATM fraud is evolving in Europe. A total of 23 European countries are represented in this report, and by the look of things, the fraud rates are not going down by much. Bitcoin remains a viable alternative to traditional finance, as digital currency ATMs are not affected by skimming issues for the time being. ATM Fraud Update Reports Shift In Skimming. One particular trend of notice in this new report by EAST is how twenty countries reported....
Google and Square announced Thursday that they were working on new payment systems that would be able to accept Bitcoin. The move is expected to heat things up in the payments market in general, and with Apple Pay, in particular. Google is currently testing the new payment processing method that will be known as Plaso while Square is working on the hardware terminals. The Square terminal is in the shape of a tablet that will run the Android system. Currently, Square has a piece of hardware known as the Square Reader that can plug into an iPad. The Square Reader can scan credit cards, and....
Online payments giant PayPal recently launched a new product called PayPal Here Chip Card Reader which allows merchants to accept various forms of digital payment such as Apple Pay, Android Pay, and EMV-enabled cards. It is available for US retailers, in-store merchants, and customers. The PayPal Here Chip Card Reader is currently offered at $49 for US retailers if they can be able to process at least $3,000 worth of transactions within the first three months. If not, the retail price of the card reader is at $149. PayPal vs. Bitcoin. Following its split with online retail company eBay,....
PayPal has unveiled a new piece of hardware that will make it easier for retailers and in-store merchants to accept contactless card payments, such as Apple Pay, Android Pay, and EMV-enabled cards. The PayPal Here Chip Card Reader has been unveiled to US customers and is aimed to make the transition to these brand new payment options much smoother. For those merchants who hoped to receive this device at a cheap price, there is a harsh reality to face. Even though the PayPal Here Chip Card Reader will be offered at the price of US$49 to US retailers, they will only be deemed eligible for....