Trend Micro : Next Gen Payment Technologies

18 March 2016 – Since the boom of e-commerce, credit cards have been the target of many cybercriminals who have designed many malware and phishing schemes to steal banking credentials. The numerous threats that have preyed on the traditional credit card payment system, coupled with new technology, has led to the development of different payment processing technologies that not only allow for more convenient transactions, but also ones that are more secured.

Trend Micro Incorporated released its annual security roundup report, “Setting the Stage: Landscape Shifts Dictate Future Threat Response Strategies,” which dissects the most significant security incidents from 2015. Mobile devices continued being hotbeds for cybercriminals looking to exploit security flaws.

Mobile payments may be convenient for people armed with smartphones that support it, especially right now with the arrival of Visa Checkout in Malaysia that allows you to pay easily on across all your devices but the problem with using popular technology is that threats are always sure to follow, the same way they did with cloud computing and the Android platform.

“What both MasterCard and Visa are trying to do here is consolidate the payment activity that they’re doing online so they have a chance to inject a bit of extra security,” says Eric Skinner, Vice President of Solutions Marketing, Trend Micro Inc. “It’s a great opportunity for them to do more fraud protection and reinforce a more controlled checkout process.”

The attack on mobile devices can range from:

  • Forcing a device’s system to go on endless reboot, draining its battery.
  • Rendering Android devices silent and unable to make calls due to unresponsive screens.
  • Exposing a device’s memory content.
  • Giving hackers the ability to replace legitimate apps with malicious versions in order to steal information from the user.


Next Gen Payment Technologies

  • EMV Credit Cards – Also called Chip-and-PIN cards, these cards feature a chip that stores a cryptogram that detects modified transactions. It also requires a PIN for extra authentication.
  • Contactless RFID Credit Cards – This payment technology uses passive Radio Frequency Identification that allows cardholders to wave the cards in front of RF terminals to complete transactions.
  • [adrotate group=”2″]Mobile Wallets – First launched in Japan in 2004, this technology works on NFC enabled smartphones, and has since been implemented by Google and Apple through their mobile platforms.
    • Apple Pay
    • Android Pay
  • New Payment Processing Architectures – three next gen payment architectures designed to improve secure mobile payments.
    • Encryption and tokenization
    • Cloud-based PoS systems
    •  Secure Element systems.

Since personal mobile devices are heavily used in the enterprise setting, it is important for corporate data to never reside in them. But this would be impractical given the need for employee mobility. Enterprises hoping to keep confidential data within their own servers can invest in virtual mobile infrastructure.

A solution like this allows employees to access company files and records without ever having to save the data on their physical gadget. In case an employee device ever gets rendered useless by mobile exploits or compromised by malware, the data remains separate and intact.

Enable your users to safely leverage mobile technology for their work. Mobile Security Solutions from Trend Micro will help you find the balance between empowering mobile employees to be more productive, and protecting their sensitive information. Accomplish both without incurring the expense and time of deploying multiple new applications.

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