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NewsBriefs

Editor's note: Following are excerpts from news stories recently posted under Breaking Industry insurance industries to examine how
News on our home page. For the full stories, see Breaking Industry News on our home page, www. emerging technologies are impacting
greensheet.com. each vertical.
InTouchPOS data stolen, ex-employee suspected EMVCo tracks 6.1 billion
EMV cards globally
Petaluma, Calif., police arrested three individuals on June 9, 2017, on suspicion
of identity theft and drug possession. A routine traffic stop led to the discov- According to recent data published
ery of illegal and restricted drugs, as well as personal data reportedly stolen by EMVCo, the number of EMV (Eu-
from InTouchPOS, a global hospitality service provider based about 70 miles ropay, Mastercard and Visa) chip
away in Walnut Creek, Calif. Petaluma Police Sgt. Lance Novello noted that cards in global circulation increased
the recovered stolen data included names, addresses, birthdays, Social Security by 1.3 billion in 2016, bringing the
numbers, banking credentials and credit card account numbers. "The potential total to 6.1 billion worldwide. Over
victim list spans the United States and losses are yet to be determined, as most the same period, card-present trans-
victims are unaware," he said. actions conducted using EMV chip
card and terminal technologies grew
Exponential Finance celebrates human, fintech evolution to 52.4 percent, up from 35.8 percent
Singularity University's fourth annual Exponential Finance Summit, held June in 2015. Of the six regions tracked,
7 through 9, 2017, in New York City, drew a diverse crowd of executives from Europe Zone 1 recorded the high-
a range of industries to explore how emerging technologies can solve global est penetration of EMV card-present
problems at scale. Speakers and panelists challenged attendees to "be expo- transactions, at 97.8 percent, with an
nential" and "unlearn" linear forms of thinking by tapping into the vast com- adoption rate of 84.9 percent. While
putational power and digital transformation of innovative change-makers and Asia Pacific (38.8 percent adoption)
organizations. The three-day summit was organized into separate tracks to en- and the United States (52.2 percent
able stakeholders in banking, financial advisory and wealth management, and adoption) lagged behind other re-
gions, the data revealed U.S. adop-
tion nearly doubled year-over-year.
Continued growth in global EMV
acceptance is anticipated. EMVCo
Executive Committee Chair Soumya
Chakrabarty stated that "more recent
data will reflect higher adoption rates
than the January to December 2016
reporting period, given the current
pace of migration in regions such as
the U.S. and Asia."

Apple to expand NFC
uses, make P2P play

News from Apple Inc. could pave the
way for much broader use of near
field communication (NFC) technolo-
gies in mobile commerce, as well as
increase competition in person-to-
person (P2P) payments. On June 5,
2017, the technology giant let it be
known that a "core" NFC framework
will be included in its next-genera-
tion mobile operating system, iOS 11.
Apple executives revealed the change
at the company's worldwide develop-
er conference, and with a new docu-
mentation webpage for developers.
Tag-reading functionality is slated
to become available beginning this
fall with shipments of iPhone 7 and 7
Plus devices, as well as Apple Watch-
es. While Apple gave little in the way

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