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Russian hackers steal $10 million from ATMs through bank networks
The recent rash of bank system hacks goes deeper than you might have thought -- it also includes stealing cash directly from ATMs. Researchers at Group-iB have published details of MoneyTaker, a group of Russian hackers that has stolen close to $10 million from American and Russian ATMs over the past 18 months. The attacks, which targeted 18 banks (15 of which were American), compromised interbank transfer systems to hijack payment orders -- "money mules" would then withdraw the funds at machines.
Alibaba opens its mobile payment system to 4 million US stores
Chinese internet titan Alibaba has struck a deal to let its global AliPay customers buy things in the US through First Data, makers of the Clover point-of-sale system. Just don't mistake this for a full American expansion to compete with Apple Pay and Android Pay: The partnership is explicitly aimed to convenience AliPay's 450 million existing global users visiting the US.
Samsung team-up aims to improve your mobile payments
If you've ever tried paying with your phone at a store, you know that the experience is often only as good as the payment reader -- a sketchy terminal could lead to you pulling out a credit card in embarrassment. Samsung thinks the industry can do better, though. It's partnering with some of the larger point-of-sale device makers (such as Verifone and Ingenico) to guarantee "maximum compatibility and universal acceptance" for Samsung Pay. The hope is that this will boost the adoption of mobile payments simply by giving you a better time when you tap-to-pay, with fewer errors that make you rethink the whole concept.
First Data and Tyfone announce partnership for NFC payments by microSD card
We've already seen Visa team up with DeviceFidelity to deliver NFC payments via microSD card, and it looks like they now have some company from First Data and Tyfone, who have just announced a partnership of their own to help bring the technology to the cellphone-toting masses. At the heart of their system is Tyfone's SideTap card made by NXP Semiconductors (pictured after the break), which is not only able to function as an actual memory card in addition to a NFC payment device, but should cost about the same as a regular memory card of the same capacity as well. Using a microSD card instead of a phone with built-in NFC technology also cuts out the need for carriers or phone manufacturers to be involved, which is apparently where First Data comes in, as it will responsible for bringing the cards to consumers (in addition to dealing with retailers, carriers and financial institutions). Complete details on a rollout still seem to be a bit up in the air, but the two companies are promising that it will hit the market in the second half of 2010, with trials slated to begin mid-year.
