Diebold has announced it is preventing criminals’ ability to capture ATM users’ card data with its new ActivEdge card reader.
The anti-skimming card reader prevents all known forms of skimming as well as other forms of ATM fraud. ActivEdge can help financial institutions avoid skimming-related fraud losses which has a total cost of over USD2bn a year annually according to the ATM Industry Association.
“Card fraud at the ATM is a serious and prevalent crime that leads to significant losses. ActivEdge will be a game changer in our industry’s fight to protect consumer data,” said Andy W. Mattes, Diebold President and Chief Executive Officer. “In addition to our recent acquisition of Cryptera and the formation of the ATM Security Association, ActivEdge is yet another step forward in Diebold’s ongoing efforts to increase ATM security.”
“ActivEdge subtly alters the ATM card user experience, while greatly shifting the balance of power in the fight against ATM crime,” said Frank Natoli Jr., Executive Vice President and Chief Innovation Officer, Diebold. “Altering the card orientation has crippling consequences for skimming devices. With ActivEdge, financial institutions will be able to stay ahead of today’s sophisticated devices and fraud attacks.”
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.
Lloyds has launched biometric finger print authentication for mobile banking.
Barclaycard has partnered with Case Station, a company that makes personalised phone cases, to embed contactless technology in the latter's smartphone cases.
Digital challenger bank, N26, which has been live for one and a half years and has more than 200,000 customers, rolled out a new feature that allows its customers to transfer money using Siri. All they have to do is talk to it.