BRAC, Composite Effects hosting Tech Tuesday; Tiya Support Services wins … – The Times-Picayune – NOLA.com
BRAC, Composite Effects hosting Tech Tuesday; Tiya Support Services wins …The Times-Picayune – NOLA.comCampus Federal Credit Union recently announced that Nichole Vicknair has been promoted to vice president business services. Vicknair has been with Campus Federal since 2012, and previously held the position of assistant vice president business …
Banks Confident in Apple Pay Security, Assume Liability for Fraudulent Purchases (Macrumors)
Apple's new Apple Pay payment system has been designed to be ultra secure, taking advantage of existing NFC tokenization specifications to keep user payment information safe. Apple uses tokens, or unique Device Account Numbers, to replace card numbers and transactions are verified through both one-time use security codes and Touch ID.
Ahead of the launch of Apple Pay, _The Daily Dot_ has spoken to several different banks working with Apple on the payments service, including Navy Federal Credit Union, USAA, Chase, and PNC, to get their thoughts on its security.
According to Navy Federal VP of credit cards Randy Hopper, the bank was "very excited" to see what Apple had developed, because it is "convenient, secure, and private." Apple's use of tokenization "addresses all points of weakness across the payment system."
USAA assistant vice president Vikram Parekh, meanwhile, said that the bank is confident enough in Apple Pay to assume all liability for unauthorized or fraudulent transactions, both in retail stores and for online purchases.
> "USAA has a zero liability policy and members are never liable for any losses related to unauthorized [or] fraudulent activity, this does not change with Apple Pay," Vikram Parekh, Assistant Vice President …