Nov. 4, 2016
October saw the MasterCard U.S. ATM fraud liability shift go into effect on the 21st. For the EMV-compliant ATM deployer, October wasn't that scary. For the noncompliant, what's scary might still lie ahead.
That is to say fraud itself, which was the subject of another was fraud itself — specifically the new and very concerning crime of deep insert skimming.
Three of our other top stories concerned two sophisticated technologies that can help ATM deployers ensure their end-user remains secure and well-served, and of course, the one simple need that drives it all — cash.
Why are so many US ISOs still at great financial risk due to the EMV chip liability shift for ATMs that is now happening within the United States? ...
I am deeply concerned, it being well into October and, it appears, many ISOs potentially on the precipice of financial ruin because of their unsuccessful — or unattempted — risk mitigation.
überbanked(ue'bər baŋkt') adj. 1 lit., over- or beyond banked 2 A phenomenon occurring within the banking industry whereby the traditional value of the financial institution as a central trusted intermediary is being eroded by new models of technology-to-consumer exchanges.
Despite the arrival of digital shopping and digital banking, which are to be warmly welcomed by all due to the new levels of convenience, customer experience and choice they offer consumers, especially on the mobile web, the facts demonstrate overwhelmingly that cash is both too big and too important to remove from society.
Cash is just too big to die because ...
"What is the customer experiencing when using a self-service device, and how is the customer experience being enhanced through the use of that device?"
This question set the stage for "ATMs and self-service devices: Similar but not the same," a panel discussion at the recent Bank Customer Experience Summit in Chicago.
Until the day when every payment card includes an embedded chip on the front side and excludes a magnetic stripe on the back, ATMs will remain targets for skimming, and criminals will remain busy tinkering with ever more sophisticated devices for stealing card data and user PINs.