Bitcoin's future is in doubt. On Tuesday, bitcoin exchange Mt. Gox disappeared and took roughly $300 million in alternative currency with it. Mt. Gox is the world's largest bitcoin exchange and its closure triggered a massive sell-off on the remaining exchanges. The future of bitcoin is now in doubt when, just last week, the currency was beginning to get more widespread acceptance among mainstream retailers.
Target launched its Accelerator program in India Tuesday, as the retailer steps up efforts to build new technology solutions.
Visa and Mastercard are backing host card emulation (HCE), making it possible for credit card companies to bypass barriers to providing cloud-based mobile payments.
Hackers set off roughly 60,000 alerts in Neiman Marcus' security system, alerts that were ignored, during an attack that compromised customer account information during a four month period in 2013.
Amazon announced that shoppers in the U.S., U.K. and Germany can now buy, spend and earn Amazon Coins on their Android phones and tablets. Previously, Coins were available for use exclusively on Kindle Fire tablets.
Online retailer eBay has agreed to acquire PhiSix Fashion Labs, a San Francisco-based computer graphics company with virtual dressing room technology.
A new app helps companies with data breach notification compliance. The free app was developed by the law firm Fox Rothschild to help retailers better understand the myriad state laws, federal statutes and additional resources.
Breach notification compliance is challenging "because we don't have a national standard or a federal statute on data breach notification, but we have literally 46 different state [laws]," said Scott Vernick, a partner at the law firm, in an interview with Information Security Media Group. "We just thought that we would try to create something that would be useful to privacy professionals and in-house counsel who are trying to respond to breaches by putting information at their fingertips."
Google has snapped up SlickLogin, an Israeli security start-up that created new sound authentication technology to replace online passwords.
A new Verizon report has found that many businesses, following their annual assessment for meeting the Payment Card Industry Data Security Standard, fail to maintain ongoing compliance -- putting the businesses at an increased risk for data breaches and the subsequent financial repercussions and damages to reputations.
The Retail Industry Leaders Association (RILA) announced the latest in a string of partnerships to enhance cybersecurity in the wake of data breaches at several retailers including Target, Neiman Marcus and Michaels Stores.
The new partnership with the National Cyber-Forensics and Training Alliance (NCFTA) is positioned to enhance cybersecurity information sharing and expand retailers' proactive and vigilant approach to cyber threats to protect consumers against criminals. Partnering with the NCFTA is one of several approaches RILA is taking to enhance collaboration across the entire payments system. Last week, RILA announced it is joining forces with the Financial Services Roundtable to lead a partnership between the merchant and financial services industries.
A new database now lets consumers opt-out of location analytics, essentially hiding them from companies seeking to access mobile devices for analytic purposes.
The Future of Privacy Forum (FPF), a Washington, D.C.-based think tank seeking to advance responsible data use and consumer privacy, and The Wireless Registry, the first global registry of wireless names and identifiers, launched the new platform that will allow consumers to easily and quickly opt-out of mobile location analytics at thousands of locations in the U.S.
Target computer security personnel may have raised concerns about potential vulnerabilities in the retailer's system in advance of the November 2013 data breach.
The recent payment breaches highlight the need for the U.S. to move more quickly to EMV chip payment cards and PINs, speakers at the 2014 Smart Card Alliance Payments Summit said last week.
A Walmart executive said the retailer has been very proactive in its EMV chip implementation and has EMV chip-enabled terminals in all of its U.S. stores. 118 of its stores are ready to accept chip transactions. John Drechny of Walmart advocated for the "the elimination of signature as a cardholder verification method."
It is so unfortunate and strange that Target's massive data breach can be traced back to one vendor. An HVAC vendor at that. However, that is what investigators found after the months-long investigation into the breach.
In July of 2013, Forbes warned that China-based e-commerce giant Alibaba is a huge threat to Amazon, Walmart and all other major U.S. retailers. After all, the business publication pointed out, Alibaba's portals handled gross sales of $170 billion in 2012 – more than Amazon and eBay's gross sales combined. It looks like Forbes was foreshadowing what was to come.
The massive card breach that cost Target, Michaels and other retailers millions of dollars is likely what fueled new policy goals from the Retail Industry Leaders Association (RILA).
Square announced its partnership with Whole Foods Market with much fanfare earlier this week. As the mobile payments tech provider should. While Square is used primarily by independent retailers and restaurants, this is Square's first deal with a major national grocery chain.
And it signifies consumers' growing acceptance of mobile payments. In the not-too-distant future, major brick-and-mortar chains that don't offer fast, easy payment systems like Square will be the anomaly. Grocery chains are the perfect market for this payment tool. Long lines at grocery stores are one of shoppers' biggest complaints, and are the reason many chains added self-checkout lanes. Then, after consumer backlash over the lack of human cashiers, some grocers did away with those lanes. Square offers a much better option.