Page 12 - GS170902

IndustryUpdate

program automatically applies a service fee to all non-
IN MEMORIAM cash sales at the POS regardless of payment type, the
company said.
In remembrance, The Green Sheet commemo- NYDFS implements
rates the life of Roy T. Rimmer Jr., who passed
away on Aug. 23, 2017 in Texas. Rimmer cybersecurity regulation
was Chief Executive Officer and Managing Entities covered by the New York Department of
Manager for Switch Commerce LLC, a pay- Financial Services' new cybersecurity regulation are
ment processor for the U.S. retail ATM sector. now required to have a cybersecurity program designed
The Green Sheet extends gratitude for Rimmer's to protect consumers' private data, as well as a board-
dedicated service to the payments industry or senior-officer approved written policy or policies,
and sends condolences to his surviving family, an appointed Chief Information Security Officer, and
friends and coworkers. controls and plans in place to ensure the safety of New
York's financial services industry.
ANNOUNCEMENTS
RESEARCH

Avanti provides data breach update
ACI, Aite release
Avanti Markets issued an update on a data breach that mobile payments study
occurred over the July 4 holiday involving malware,
which may have captured user card data on mag-stripe The Global Consumer Survey: Consumer Trust and Security
equipped Avanti kiosks. According to Avanti, at the time Perceptions, published by ACI Worldwide and Aite
of the incident the company had delivered updated pay- Group LLC, found mobile wallet adoption is on the rise
ment devices, with encryption technology, that opera- globally and consumers in the United States and Europe
tors were in the process of deploying. As of Aug. 4, the are catching up with the fast-growing economies in Asia
solution had been installed on all Avanti U.S. kiosks, the and Latin America. Research revealed that 17 percent of
company noted. U.S. consumers now pay by smartphone. Spanish con-
sumers in Europe are the most active mobile wallet users
CO-OP assists disaster victims at 25 percent, followed by Italy (24 percent), Sweden (23
percent) and the United Kingdom (14 percent).
CO-OP Financial Services donated $10,000 to CUAid, an
online disaster relief system organized by the National Fed publishes payment improvements paper
Credit Union Foundation. The donation was targeted to
a CUAid effort organized to help credit unions and their The Federal Reserve published Strategies for Improving
members in Texas impacted by Tropical Storm Harvey. the U.S. Payment System: Federal Reserve Next Steps in the
The donation augments the nationwide CO-OP Shared Payments Improvement Journey, which identifies updated
Branch and CO-OP ATM networks used extensively tactics the Fed plans to pursue to help improve the
during times of disaster. speed, safety and efficiency of the U.S. payment system.
The paper additionally presents refreshed strategies and
GlobalPlatform creates NFC specification nine new tactics the Federal Reserve will employ, in col-
laboration with payment system stakeholders, to help
The recently published GlobalPlatform Managing Entity achieve payment system improvements.
Specification completes complementary software stan-
dards from the European Telecommunications Standards FICO reports on U.S. debit card usage
Institute and the NFC Forum to ensure multiple mobile
contactless services can coexist within a device and According to a new report from FICO on U.S. debit
operate as intended. The collaborative effort between card usage, the number of cards compromised at U.S.
GlobalPlatform, ETSI and the NFC Forum provides a ATMs and merchants rose 39 percent during the first six
standardized approach and clarity to NFC service pro- months of 2017, compared to the same period in 2016.
viders. FICO also tracked a 21 percent increase in compromises
of U.S. ATMs and POS devices year-over-year for the
Net Element launches no-fee SMB program same period. In the report, FICO offers tips to consum-
ers on safe ATM practices.
Net Element Inc. subsidiary Unified Payments launched
a no-cost processing program for small and midsize
businesses (SMBs) in the United States called Zero
Pay. According to Net Element, it is the first and only
cash discount program available on mobile POS. The

12