Denmark’s government is planning to help usher in the long-awaited cashless society by giving restaurants and some shops the option to refuse notes and coins. As part of a pre-election package of economic measures put forward by the government, from the beginning of next year selected retailers, including restaurants, clothing stores and gas stations, would […]

Online banking fraud jumped 48% to £60.4 million in 2014, according to figures put together by Financial Fraud Action UK (FFA UK), which blames the rise on malware and confidence tricksters. However, with just 53192 actual incidents of online banking fraud losses in the year, the FFA says that the problem is “relatively modest” for […]

Last month in Coimbatore (ANI): In a bid to rein in the number of fake passports, Indian government is working on to issue electronic passports or e-passports to the citizens by 2016, an official said in Coimbatore city. An e-passport will have a chip on its back cover with the holder’s biometric details stored in […]

The drive by banks to implement new digital technologies has overtaken regulatory worries as the highest priority for global banking executives, according to new research from the Economist Intelligence Unit. The EIU survey finds that implementing digital strategies (46%) is now a bigger priority for bank management than responding to regulation (35%). Regulatory pressure has […]

Internet giant Tencent has launched China’s first online-only private bank in a ceremony attended by the country’s premier, Li Keqiang. WeBank, named after Tencent’s hugely popular WeChat messaging service, is opening its virtual doors after the Chinese financial service regulator granted Tencent a license last year. In total,licenses were granted, including to Tencent rival Alibaba, […]

From security strategies to mobile payment, the payment space is poised for major changes in the year ahead. With huge disruptions in the payment space including EMV and the debut of Apple Pa, 2014 was a watershed year for payments technology. Ingenicosummarizes six key payments trends that hospitality tech executives need to know about in 2015. […]

The Payment Card Industry Security Standards Council has released v2.0 of the PIN Security Requirements, according to a PCI SSC news release. The program contains a complete set of requirements for the secure management, processing and transmission of personal identification number data at ATMs and attended and unattended point-of-sale terminals. PCI PIN Security Requirements v2.0 aims […]

According to a new study by Kaspersky Lab and B2B International, nearly half of respondents who lost money in fraudulent online transactions did not get all — or sometimes any — of their funds back. Losses can be significant, too: The average sum stolen by cybercriminals was $218; 18 percent of respondents reported a loss in […]

Ireland has revealed plans to launch a smartcard that citizens can use in place of passports for travel within the EU and the European Economic Area. Available from July, the card will be valid for a maximum of five years and costs €35 (US$39). Speaking at the launch of the design for the new card, […]

The analysts forecast the Global E-passport and E-visa market to grow at a CAGR of The data stored electronically on the chip is authenticated by PKI, thus making e-passport forgeries impossible. Facial, fingerprint, and iris recognition are major biometric modalities 30.17% over the period 2014-2019 used for this process. One key trend in the market […]