Hackers Targeting Card Swiping Consumers
Cardtek’s most recent certification supports both contact and contactless payment schemes.
Chicago based payment processor Cardtek announced its EMV Contact and Contactless Level 2 Kernel Library certification through its ChipXpert solution that may make EMV technology more affordable for smaller merchants. The product provides secure transactions at retailers, transit locations, self-service terminals and other EMV-enabled locations. Cardtek’s most recent certification supports both contact and contactless payment schemes. This architecture also allows adaption to different terminal types such as tablets, parking devices, outdoor payment terminals, transit validators and retail terminals, according to Cardtek. The process also addressed the additional features of EMV L2 Kernel Library, which passed performance conditions required for open loop transit transactions.
In the midst of the ongoing EMV transition comes news of skimming scams trying to catch unwary consumers, who swipe instead of dip, and new technology making POS devices more affordable.
Chip-based cards are more costly and intricate for thieves to fake, and help lessen the threat from the majority of current card-skimming methods. There are consumer complaints that chip readers take longer for an authorization than just a swipe. This is because of numerous information exchanges between the card reader and the backend that the swipe method does not have.
View the full coverage on Credit Union Times.