How Strong Should Customer Authentication Be?

Offering payment solutions is high risk. Moving money always was and always will be. The development of card payments 55 years ago started with an embossed card and paper slips. It didn’t have great security, but it was fit-for-purpose. Over time, the card payment system has developed to allow consumers to make spontaneous payments for almost any value. Anywhere in the world. The simple proposition was updated with new technology and better controls (for example Chip and PIN), remaining fit-for-purpose to meet changing consumer and to combat criminal behaviour.

Global study shows increasing security risk to payment data

While acceptance of mobile and other new forms of payments is expected to double within next two years, a new study reveals that the eCommerce industry might be not fully ready for the bloom as the proper security measures are not implemented. Study shows that credit card and other payment methods risk is on increase.