Browsing: Walter Volker

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Fingerprint biometrics coming to SA bank cards

New standards to facilitate card payments using fingerprint authentication have been introduced to make transactions more secure and convenient for consumers. The Payments Association of South Africa, in partnership with

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3-D Secure compliance irks e-retailers

The Payments Association of South Africa (Pasa) is moving ahead with plans to fine merchants that have failed to comply with 3-D Secure, a new layer of verification for online payments. And it’s got some online retailers hot under the collar. While not everyone’s happy

Editor's pick
Reserve Bank slashes card fees

In a major victory for South African retailers, and possibly consumers, the Reserve Bank has approved changes to the “card interchange rate”, the fees a retailer’s bank pays to a cardholder’s bank every time a bank card is used at the point of sale. The changes took effect

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Dexter malware still a threat: expert

Claims that infected systems caused by the Dexter malware attack are “clean” and that consumers have “nothing to worry about” are unfounded, a security industry expert has said. SecureData Africa chief technology officer Wayne Olsen says consumers should still be concerned as it is a

In-depth
How the Dexter malware works

A major security breach involving the theft of South African bank account holders’ details by one or more criminal syndicates may go down as one of the worst such incidents in the country’s history. Criminals infected point-of-sale terminals in South African fast-food outlets and restaurants with

Editor's pick
SA banks in massive data breach

South Africa’s banks have suffered tens of millions of rand in losses due to a major breach of customer card data by criminal syndicates that infected electronic point-of-sale terminals using a variant of malicious software called Dexter. It’s not known exactly how

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Bank card details leaked

Private credit card and banking details have been leaked during a breach at a company which processes online transactions, the Payments Association of SA (Pasa) said on Friday. Pasa CEO Walter Volker said there was no need for “undue concern” by card holders

In-depth
Money goes mobile, and global

It is getting easier and easier for consumers to transfer money anywhere in the world as new technologies come to market using cellphones and payment networks. In the past week, Visa and MTN announced a payment platform that allows cross-border transactions, FNB opened up its

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EasyPay fights back after fraud

This week, an estimated 180 000 EasyPay customers will receive an e-mail that offers money-back rewards on all their transactions as part of the company’s strategy to restore its credibility and regain customers’ confidence after its site was hit by credit-card fraud two

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Chip and PIN not as safe as you think

Chip-and-PIN cards were introduced in order to reduce the level of fraud on credit cards. The argument is that without the PIN your card cannot be used. However, many bank customers have found that their cards are still being used fraudulently and the only difference now is