There is a sweeping change set to affect credit card payment security. Although the US lags behind other developed nations in adopting this technology, it could mark a radical shift in how consumers view the safety of their transactions – whether in store or online. The steps to begin adoption of this technology were brought about through an executive order signed by President Obama in October 2014 to speed the adoption of EMV-standard cards in the US. Target date for nationwide deployment is October 2015. This is good news for the beleaguered companies that were hit by hackers over the past few months across the American continent!
Here’s what EMV is all about… EMV stands for Europay, MasterCard and Visa, a global standard for inter-operation of integrated circuit cards (IC cards or “chip cards”) and IC card capable point of sale (POS) terminals and automated teller machines (ATMs), for authenticating credit and debit card transactions. (Click the link for a detailed explanation from Wikipedia)
And here’s an FAQ developed by the Smart Card Alliance to answer questions about EMV. How is this new technology ‘different’ from the current standard? The biggest benefit of EMV is the reduction in card fraud resulting from counterfeit, lost and stolen cards. EMV also provides interoperability with the global payments infrastructure – consumers with EMV chip payment cards can use their card on any EMV-compatible payment terminal. EMV technology supports enhanced cardholder verification methods and, unlike magnetic stripe cards, EMV payment cards can also be used to secure online payment transactions.
Cyber-security is a burgeoning field as more and more of our daily activities go ‘online’. What part will you play in keeping data safe?
There’s a saying that the only things that are certain in life are death and TAXES. For the vast majority of humans, the process of filing your personal or business taxes is something that is feared, dreaded, hated, avoided – you get the picture…
While e-filing has been in place in many countries for some time, here’s a story from BizTech Africa that highlights a less developed part of the ICT globe. While it may not be news where you reside, this change is monumental for Gabon. Technology makes its way across the planet at different paces, and can bring about events with impacts that ripple across continents.
The initiative, named et@x (https://www.etax.dgi.ga/home.seam) is aimed at helping Gabon catch up with other African countries and establishing Gabon’s reputation as providing high quality services for their business sector.
Are YOU part of an electronic revolution that hasn’t reached beyond your university? How will you bring it to market and where? You may be the life-changer that the world is waiting for!
Given all the unsettling events that have taken place around the globe with hacking of credit card data and the like, it seems many people are ditching the ‘plastic’ for their purchasing and (gasp!) using actual currency – at least temporarily…
Here’s a story about another possibility for payment options. Bitcoins are gaining traction in a variety of settings and being tried for all sorts of different applications as an alternative to “filthy lucre”. (Are we taking the high road or the low road, do you think? Whichever, I’ll be in Scotland afore ye’ – maybe I can use bitcoins to buy my very own castle. That would prove me a bampot for sure!)
From Wikipedia: Bitcoin is a software-based payment system…introduced as open-source software in 2009. Payments are recorded in a public ledger using its own unit of account, which is also called bitcoin. Payments work peer-to-peer without a central repository or single administrator, which has led the US Treasury to call bitcoin a decentralized virtual currency. Although its status as a currency is disputed, media reports often refer to bitcoin as a cryptocurrency or digital currency.
Some “bits and bobs” on the bitcoin…
A bitcoin documentary film called The Rise and Rise of Bitcoin made its debut at the Tribeca Film Festival in New York on 23 April 2014, chronicling bitcoin’s origins to its explosive growth in 2013. http://newsbtc.com/2014/03/17/bitcoin-documentary-film-rise-rise-bitcoin-debut-tribeca-film-festival/
In Fall 2014, undergraduate students at the Massachusetts Institute of Technology will receive $100 in bitcoins “to better understand this emerging technology”. A student had the idea of a Bitcoin Club and raised more than half a million dollars from a high frequency trader. Hern, Alex (30 April 2014). “MIT students to get $100 worth of bitcoin from Wall Street donor”. The Guardian. 1 May 2014.
Big data is the term for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. It has been the buzzword of the last couple years, and many businesses today want to “Get Started with Big Data”.
When I start discussing with clients what they want to do with big data, more often than not I get puzzled looks. It is important to have the preparedness to “get started with big data” by having:
- Pinpointed a line of business in the company to get started with the use cases
- Identified use cases that serves a true business needs within that line of business
- Verified that there’s indeed large amounts of meaningful data available to support the use cases
Above is the snapshot of the mindmap showing some sample use cases. You can download the original mindmap from the links at the original post.
This is an interesting analysis on adoption of smarter planet solutions by various industries. It leverages a mindmap to organize the challenges and advantages for industries in embracing the smarter systems.
Here’s the snapshot of the mindmap from the link: