EMVCo has announced the publication of the EMV 3-D Secure Protocol and Core Functions Specification v2.2.0.

14 December 2018 – EMVCo today announces the publication of the EMV® 3-D Secure Protocol and Core Functions Specification v2.2.0. The updated specification includes enhancements to promote an optimised consumer experience while supporting new authentication channels when making e-commerce transactions.

EMV 3DS is a messaging protocol that promotes frictionless consumer authentication and enables consumers to authenticate themselves with their card issuer when making card-not-present (CNP) ecommerce purchases. The additional security layer helps prevent unauthorised CNP transactions and protect the merchant from exposure to CNP fraud.

Version 2.2.0 builds upon the current specification version 2.1.0 which is available on the EMV 3DS Test Platform, enabling 3DS product providers to confirm that their solutions will perform in accordance with the specification. Support of v2.1.0 is required in order to implement v2.2.0. Key updates within version 2.2.0 include:

• Improved communication between merchants and issuers, enabling Europe’s Second Payment Services Directive (PSD2) exemptions for Strong Consumer Authentication to be applied.
• Two new features to enable authentication for various payment scenarios including mail order and telephone order transactions: 3DS Requestor Initiated (3RI) payments and decoupled authentication – allowing cardholder authentication to occur even if the cardholder is offline.
• Expansion of existing data elements to promote communication of pre-checkout authentication events and associated data as part of the EMV 3DS transaction from systems such as those supporting the FIDO Alliance standards.

These enhancements are available if all 3DS components involved in the transaction have updated their software to support v2.2.0.

“EMV 3DS exists to promote secure, consistent consumer authentication for e-commerce transactions across all channels and connected devices, while optimising the cardholder’s experience,” comments Stephanie Ericksen, Chair of the EMVCo Executive Committee. “Our work in this area continues to evolve to ensure we respond to new marketplace requirements. EMVCo continues to encourage the payments community to get involved and provide feedback on the EMV 3DS activity.”

Earlier this year EMVCo announced the availability of the full EMV 3DS Test Platform, which enables the functional testing of EMV 3DS solutions. Letters of Approval are currently being issued for those 3DS products that have successfully tested against version 2.1.0. A list of approved products can be found on the EMVCo website. Products submitted for EMV 3DS v2.2.0 compliance testing will also be tested against EMV 3DS v2.1.0 to receive an EMV 3DS v2.2.0 Letter of Approval. Testing support for version 2.2.0 is expected to be available mid-2019. Progress updates will be posted on the EMVCo website.
To stay informed of the latest EMVCo developments and receive advanced access to EMV Specifications and related documents, join the EMVCo Associates Programme or become a Subscriber.

Jul 22, 2019 Agreements Establish Restitution Fund for Consumers

ATLANTA, July 22, 2019 /PRNewswire/ — Equifax Inc. (NYSE: EFX) today announced a comprehensive resolution of significant U.S. consumer-related litigation and regulatory matters facing the company related to its 2017 cybersecurity incident. 

The $671 million resolution includes settlement agreements that would resolve the multi-district consumer class action litigation, as well as investigations by the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), the Attorneys General of 48 states, Puerto Rico and the District of Columbia, and the New York Department of Financial Services (NYDFS).

If approved by the Court, a consumer restitution fund of up to $425 million will be available to pay for three-bureau credit monitoring for consumers whose information was impacted in the 2017 breach, actual out-of-pocket losses related to the breach, and other consumer benefits such as identity restoration services. Equifax has been providing free credit monitoring services to consumers since September 2017.

“This comprehensive settlement is a positive step for U.S. consumers and Equifax as we move forward from the 2017 cybersecurity incident and focus on our transformation investments in technology and security as a leading data, analytics, and technology company,” said Equifax Chief Executive Officer, Mark W. Begor. “The consumer fund of up to $425 million that we are announcing today reinforces our commitment to putting consumers first and safeguarding their data – and reflects the seriousness with which we take this matter. We have been committed to resolving this issue for consumers and have the financial capacity to manage the settlement while continuing our $1.25 billion EFX2020 technology and security investment program. We are focused on the future of Equifax and returning to market leadership and growth.”

As part of the resolution, Equifax has agreed to continue the significant steps it has taken in the wake of the cybersecurity incident to enhance its information security and technology program. It also has agreed to make payments totaling $290.5 million directly to certain state and federal regulatory agencies and to pay attorneys’ fees and costs in the multi-district litigation. Equifax recorded an accrual of $690 million in the first quarter of 2019 and expects to increase its accrual by approximately $11 million in the second quarter of 2019 principally related to the comprehensive consumer settlement, resulting in a total $701 million accrual related to the 2017 cybersecurity incident.

If the Court approves, members of the settlement class will receive notification of their rights and options as part of the multi-district litigation. More information can be found at www.equifaxbreachsettlement.com.

Additional detail on the terms of the proposed settlement in our Form 8-K filed today with the Securities and Exchange Commission.

Equifax CEO Mark Begor will provide details in the following conference calls:

• 9:00 a.m. ET Conference call for investors, analysts and others
  U.S. and Canadian participants should dial: (888) 254-3590.
  International callers should dial: (786) 789-4797. 
  A replay of this conference call will be available beginning Monday, July 22 at 12:00 p.m. ET and ending at 12:00 p.m. ET on Monday, July 29.  To access the replay, please register.
• 9:30 a.m. ET Conference call for media
  U.S. and Canadian participants should dial: (800) 289-0438. International callers should dial: (786) 789-4783.

Please dial the appropriate number 5-10 minutes prior to the start of the calls to complete registration. Name and affiliation/company are required to join.

Forward-Looking Statements

This release contains forward-looking statements and forward-looking information. These statements can be identified by expressions of belief, expectation or intention, as well as statements that are not historical fact. These statements are based on certain factors and assumptions. While the company believes these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect.

Several factors could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including, but not limited to, potential adverse developments in new and pending legal proceedings or government investigations, including the failure to obtain final court approval of the agreements which make up the Consumer Settlement; uncertainties regarding the ultimate amount and timing of payments the Company may be required to make in connection with the Consumer Settlement; the cost of compliance with the Company’s non-monetary obligations associated with the Consumer Settlement; uncertainties regarding the outcome of the remaining legal proceedings or government investigations related to the 2017 cybersecurity incident; and limitations on the Company’s ability to access the capital markets and corresponding effects on the Company’s ability to finance its obligations. A summary of additional risks and uncertainties can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, including without limitation under the captions “Item 1. Business — Governmental Regulation” and “— Forward-Looking Statements” and “Item 1A. Risk Factors,” and in the Company’s other filings with the U.S. Securities and Exchange Commission. Forward-looking statements are given only as at the date of this release and the company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Equifax 
Equifax is a global data, analytics, and technology company and believes knowledge drives progress. The Company blends unique data, analytics, and technology with a passion for serving customers globally, to create insights that power decisions to move people forward. Headquartered in Atlanta, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor’s (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 11,000 employees worldwide. For more information, visit Equifax.com and follow the company’s news on Twitter and LinkedIn.

What’s an economical payment gateway for D365? One that enables business to qualify for the lowest rates possible for any given card type, mitigates chargeback risk, and creates efficiencies. Many businesses using AX 2012 and D365 need to store a card and charge on demand. To qualify for the lowest rates and mitigate risk of penalties and fines, compliance with the card network rules is required.Minimum requirements to potentially qualify for the best rates are:

• For card not present payments, including invoice portal, support 3-D secure; some issuers offer a lower rate averaging 20 BPS (.20%) less.
• Compliance with 2017 Visa stored credential mandate (which will also get you compliant with MasterCard etc). Many payment gateways do not support this yet.   Ask, ” Do you support “Unscheduled Credential On File” rules?; store the card, charge on demand. Currently authorize.net, Red Maple and Payflow Pro do not.
• If doing preauthorizations, a method to reauthorize expired auths, and a method to make initial and final auth the same amount if it changes after the preauth. Failure to do so increases the qualified credit card rate an average of 30% for businesses on pass-through interchange pricing.
• Reversing unused authorizations; Mastercard penalty is now a hefty .25% for misuse of authorization.

Call Christine Speedy, CenPOS Global Sales. 954-942-0483, 9-5 ET for a D365 payment gateway that can be quickly implemented. CenPOS is an integrated commerce technology platform driving innovative, omnichannel solutions tailored to meet a merchant’s market needs. Providing a single point of integration, the CenPOS platform combines payment, commerce and value-added functionality enabling merchants to transform their commerce experience, eliminate the need to manage complex integrations, reduce the burden of accepting payments and create deeper customer relationships.

Need an alternative to Authorize.net to comply with stored credential rules, including for both recurring and Unscheduled Credential On File? Authorize.net does not yet offer a solution for Visa stored credential or Mastercard. This includes both merchant initiated transaction and customer initiated transaction in addition to the other items in the Visa Stored Credential Transaction framework and mandates effective October 14, 2017.

The payment gateway is the biggest piece of the puzzle for compliance. My clients were compliant back in 2017. Whether integrated or standalone, I can help you comply with this and many other rules that impact merchant fees and chargeback risk. Even B2B companies that never have chargebacks are at risk.

Call Christine Speedy, CenPOS Global Sales. 954-942-0483, 9-5 ET for all your recurring billing and stored credential payment gateway and virtual terminal needs. CenPOS is an integrated commerce technology platform driving innovative, omnichannel solutions tailored to meet a merchant’s market needs. Providing a single point of integration, the CenPOS platform combines payment, commerce and value-added functionality enabling merchants to transform their commerce experience, eliminate the need to manage complex integrations, reduce the burden of accepting payments and create deeper customer relationships.