South Africa’s First National Bank (FNB) has written to merchants to inform them it will be passing on any fines it incurs from the Payments Association of South Africa (PASA) for failure to meet the deadline to be 3D Secure. PASA had mandated that due to the increase in card not present (CNP) fraud in
Due to the increase in Card not Present (CNP) fraud in South Africa, the Payment Association of South Africa (PASA) has made a decision to mandate the implementation of 3D Secure for all e-commerce merchants. The deadline for this implementation has been set at 28 February 2014. 3D Secure is the collective term used for
There was a massive breach in South Africa’s banks last week resulting in tens of millions of rands in losses. The breach was caused by a malicious malware called Dexter which was unknowingly installed on the POS terminals of a number of fast food chains. It is believed that the malware was implemented by an
