Visa made waves in August when it unveiled a road map to move the U.S. to EMV and then again in January when the company said that the country’s deployment wouldn’t be chip and PIN. Stephanie Ericksen, head of Authentication Product Integration at Visa USA, talks to Regarding ID’s Gina Jordan about the move and why the U.S. will have a different solution than what other typically associate with EMV. “One thing that we’re trying to clarify is there are many countries around the world that have adopted EMV chip technology, but it’s not chip and PIN,” Ericksen says.

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In an effort to reduce fraud, the Association of Banks in Singapor announced that it has set guidelines regarding the implementation of smart chips in ATM cards in Singapore.

The Strait Times reports that by 2014 all ATM cards will need to have smart chips embedded in them to increase their security. This plan has been in the works for some time but was accelerated when DBS Bank was attacked by a fraud scam. 

In an effort to increase the security of the current EMV chip and PIN, SmartMetric has created an EMV card enhanced with biometrics.

The SmartMetric Chip & Biometric EMV Card incorporates fingerprints to activate the card. It’s designed to increase the security of standard EMV chip and PIN cards, which SmartMetric claims are still vulnerable to fraud attacks, even though they are safer than a magnetic stripe card. 

ValidSoft partnered with Opus Research and released a report titled “Voice Biometrics Authentication Best Practices: Overcoming Obstacles to Adoption” that predicts the technology will be deployed in payment authentication assuming the best practices it lays out are followed.

Chief among the reasons for an increase n the use of the modality is the increased use of smart phones for banking and other financial services. 

EMV in the U.S. won’t be chip and PIN but instead a new technology that takes advantage of the online infrastructure available in the U.S., according to Stephanie Ericksen, head of Authentication Product Integration at Visa USA.

In the U.S. payment transactions are authorized in real time. In other countries this connectivity doesn’t exist which brings up the need for a PIN for further authorization.

“At the time EMV was created, the cost and complexity of connecting a merchant POS device to some telecommunication networks was prohibitive. The way around that was to introduce ‘floor limits’ and create a magnetic stripe alternative – EMV chip-and-PIN – as a counter to potential fraud,” Ericksen states in a blog post. 

NagraID demonstrated its latest line of display cards at this year’s ShowStoppers@CES exhibition at the Wynn Las Vegas hotel.

These display cards enable cardholders to use one device for payment, physical access, online account security and transactions for card not present environments. The credit card-sized display cards contain an integrated LCD for displaying single-use passwords, personalized messages and other critical information. 

Internet fraud prevention and user authentication provider TeleSign and IP geolocation and online fraud detection company MaxMind have joined forces to create a multilayer fraud prevention service.

The minFraud service integrated with TeleSign Telephone Verification and PhoneID combines MaxMind’s geolocation and fraud-risk scoring services with the TeleSign verification services to fight various types of fraud.