23 April 2017
visit http://events.sap.com/gb/fsi-forum-2017/en/home

Electronic Payments Coalition calls for data security collaboration

04 February 2014  |  843 views  |  0 Source: Electronic Payments Coalition

The Electronic Payments Coalition issued the following statement regarding recent merchant data breaches and the security of the electronic payments system:

Over the last month, as many as 100 million Americans have had the unfortunate experience of learning that their personal information was compromised in a series of recent retailer data breaches. While some have tried to use this criminal activity as an opportunity to score political points and refight old battles, all participants must instead commit to further strengthening the system as a whole. The electronic payments system brings extensive benefits to consumers, retailers and financial institutions, including fast, secure and reliable transactions, but these recent merchant breaches are a reminder that the work to protect consumer information is never done. Data security is a rapidly changing and complex issue, and solutions require dedicated collaboration. All parties - retailers, networks, processors, financial institutions and others - must come together to implement solutions such as EMV and tokenization to strengthen the system and avoid future breaches. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit dh.comVisit capgemini.com

Top topics

Most viewed Most shared
BBVA runs live funds transfers over RippleBBVA runs live funds transfers over Ripple
9286 views comments | 27 tweets | 16 linkedin
hands typing furiouslyDoes the Buck Stop with GameStop?
8915 views 0 | 3 tweets | 14 linkedin
Western Union and MoneyGram unveil Facebook Messenger bots; Mastercard and Amex pile inWestern Union and MoneyGram unveil Faceboo...
8192 views comments | 16 tweets | 17 linkedin
Alipay and WeChat near $3 trillion payments milestoneAlipay and WeChat near $3 trillion payment...
8087 views comments | 35 tweets | 37 linkedin
Dutch banks back all-in-one mobile payments tech from INGDutch banks back all-in-one mobile payment...
6891 views comments | 17 tweets | 20 linkedin

Featured job

to 120K base, £300K ote, stock options
London, UK

Find your next job