If you’ve ever been inconvenienced by having a credit card purchase declined while on the road — or if you’ve been the merchant who lost out on such a sale — listen up: Visa® may have the solution. It’s a new service called Mobile Location Confirmation (MLC for short) that’s designed to reduce unnecessary purchase declines often triggered when consumers travel outside of their home area.
2015 may be the year that the U.S. Congress gets serious about national data breach legislation. In late January, the House Commerce, Manufacturing, and Trade Subcommittee opened hearings on the matter, and Subcommittee Chairman Michael Burgess (R-TX) has called the issue a “top priority” for the new Congress.
Near field communication (NFC) is wireless technology that enables smartphones and other devices to establish radio communication with each other by touching them together or bringing them into proximity (typically closer than 4 inches). NFC has received new attention from the payment processing industry with the recent introduction of Apple Pay™, which currently operates off an NFC antenna built into the iPhone® 6 and 6 Plus, certain iPads and (coming soon) Apple Watch™. It’s touted as being a more secure way to pay in stores.
Credit card fraud is big buzz these days, and rightfully so, given the impact it has on businesses and customers alike. The best defense against it is a strong offense, which begins at the point of sale with a careful examination of the card.