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About Patrick Craig

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So far Patrick Craig has created 17 blog entries.
1 03, 2014

Major Players Form Cross-Industry Group to Implement EMV PIN and Chip in U.S.

By | 2017-10-10T18:08:19+00:00 March 1st, 2014|ACH Review|Comments Off on Major Players Form Cross-Industry Group to Implement EMV PIN and Chip in U.S.

The blowback from the Target hacking fiasco has definitely stirred up American consumers, merchants and the credit card payment processing industry. As a result, EMV, which nobody was talking about before November, is now looming on the horizon. In fact, the two major players in credit cards, MasterCard and Visa, have joined forces to push for rapid implementation. Here’s an excerpt from their recent news release:

28 02, 2014

EMV Implementation Means Big Changes…

By | 2017-10-10T18:08:19+00:00 February 28th, 2014|ACH Review|Comments Off on EMV Implementation Means Big Changes…

Running up the white flag after threatened lawsuits, fines and other financial losses stemming from the massive November hack, Target’s CFO, John Mulligan, told the Senate Judiciary Committee in recent testimony that all proprietary REDcards and all Target store card readers will be equipped with chip-enabled technology by the first quarter of 2015, six months earlier than initially planned.

15 02, 2014

2015 May Reduce In-Store Fraud, But Hackers Most Likely Will Move Online.

By | 2017-10-10T18:08:20+00:00 February 15th, 2014|ACH Review|Comments Off on 2015 May Reduce In-Store Fraud, But Hackers Most Likely Will Move Online.

With the scheduled changeover to chip and PIN debit and credit cards in 2015, POS fraud may decrease dramatically. That’s the good news. The bad news for online credit card processing companies is that thieves and hackers will simply move their operations to the Internet to avoid the new POS encryption requirements.

1 02, 2014

Inherent flaws in the Credit Card Payment Processing System may encourage future hacks…

By | 2017-10-10T18:08:20+00:00 February 1st, 2014|ACH Review|Comments Off on Inherent flaws in the Credit Card Payment Processing System may encourage future hacks…

Big-box retailers and electronic funds transfer service companies in the U.S. recoiled in terror when the massive Target hack was announced in December of 2013. A team of crooks, allegedly from Eastern Europe, infiltrated over 40,000 POS terminals in every Target store in America and skimmed off the personal data of more than 100 million consumers who were flooding the stores during the holiday shopping frenzy.

15 01, 2014

Credit and Debit Card info MIGHT get harder to steal in the wake of Target Hack

By | 2017-10-10T18:08:21+00:00 January 15th, 2014|ACH Review|Comments Off on Credit and Debit Card info MIGHT get harder to steal in the wake of Target Hack

It is now pretty clear that hackers unleashed malware into Target’s point of sales terminals (what we used to call cash registers) to steal the payment card information from over one hundred million customers; the retailer's chief executive has confirmed that fact.

1 01, 2014

Target Hack Reveals Major Issues in the U.S. Payment Card Processing System

By | 2017-10-10T18:08:21+00:00 January 1st, 2014|ACH Review|Comments Off on Target Hack Reveals Major Issues in the U.S. Payment Card Processing System

Retail chain, Target, one of the nation’s largest merchant processing companies, confirmed in December that approximately 40 million credit and debit card accounts were hacked over a two-week period beginning on Black Friday.

1 12, 2013

Mobile Devices Drive Cyber-Monday Online Cash Transactions Through The Roof!

By | 2017-10-10T18:08:21+00:00 December 1st, 2013|ACH Review|Comments Off on Mobile Devices Drive Cyber-Monday Online Cash Transactions Through The Roof!

In my last blog I talked about the growing trend in e-commerce by way of mobile devices, which has in turn driven a new concept in web design – responsive websites. Now that the numbers are in, I can pat myself on the back and declare myself at least a short-term financial and design prophet.

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