The SaveMart supermarket chain in the US is reporting escalating incidences of fraud on customer bank cards after the discovery of data recording equipment on eftpos terminals at 23 Lucky supermarkets.
Would you guys over the pond like some help to implement EMV?
Skimming (Verb) Present Participle of Skim.
1. Uses the black magnetic stripe (similar to the technology used in the 20th Century for Video and Audio cassette tapes to capture data)
2. Currently a very popular method of compromising for the worlds EMV and non EMV Cards for fraudulent gain
3. Is most prevalent in POS environments suffering from under-investment such as some parts of Africa and most of the USA.
© Finextra Research 2013