Q&A with Randy Vanderhoof of the Smart Card Alliance
Payment card fraud remains a top concern for banks and credit unions. And Randy Vanderhoof, executive director of the Smart Card Alliance, says mobility can help address fraud incidents and losses.
One positive step: The movement toward more near-field communications. Mobile is the channel most banking institutions and retailers are riding as they coast along the NFC rails. In fact, Vanderhoof says support from Visa, MasterCard and Discover for card issuers and acquirers to rely on and accept more NFC and less magnetic-stripe will be a catalyst for mobile, which is increasingly being viewed as a more secure payments method.