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MK World of Cards ©2017 MK Group thegioithe@mkgroup.com.vn www.facebook.com/mkgroup1999 (84-24) 6266 2703 - 513
Certificates & Industry membership
Internal Newsletter of MK Group
MK WORLD OF CARDS Editor-in-chief: Ms. Phan Thi Quynh Hoa – MD of MK Group
Note: All information and images in this internal magazine were collected and edited from various reputed sources by MK Group and used for knowledge -sharing purposes only.
| Email: thegioithe@mkgroup.com.vn
Headlines:
❖ MK Group participates in the
conference “Promoting the application
of cryptography products and services
for socio-economic development”
❖ Banks apply free on-net money
withdrawal, account transfer
❖ Brits prefer biometrics for banking
❖ EAST issues 2nd update on ATM-
related crime in 2017
❖ Segmenting US banks: Focus on card
issuing and presence of acquiring
Issue #20 | August 2017
MK Group participates in the conference
“Promoting the application of cryptography products
and services for socio-economic development”
MK World of Cards ©2017 MK Group thegioithe@mkgroup.com.vn www.facebook.com/mkgroup1999 (84-24) 6266 2703 - 513
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MK NEWS
many others from organizations, enterprises trading & applying
cryptography products, i.e. IBM, Oracle, HPE, Bitdefender,
Samsung, Sonicwall, Netvision, MK Group, etc.
At the conference, Mr. Le Minh Quoc – CTO of MK Smart
presented the All-in-one MK smart customization security solution
and Mr. Vu Minh Vu – Solution Manager of MK Group presented
the Prim’X high-grade encryption solution.
The All-in-one MK smart customization security solution is highly
recommended for its flexibility and applicability of the
implementation in practice. This is a high security solution
implemented on the basis of the card and USB reader applied
security algorithms and updated standards today. By mastering
the smart card operating system, MK Smart can provide multi-
factor authentication applications, such as: OTP, PKI and
biometrics on smart card, token or USB reader. The All-in-one MK
solution is designed to make it easy for updating and changing
authentication methods or algorithms or biometric identification.
The All-in-one MK is a great choice for security devices for e-
government, enterprises, banks, personal and organizations.
Meanwhile, with the motto “Encrypt everything, everywhere
and always”, the Prim’X high-grade encryption solution
provided and presented at the event by MK Group is a new
encryption method for greater protection of sensitive data
against loss, theft, disclosure and economic espionage. The
Prim’X high-grade encryption solution will enable these
processes to be all-embracing, simple & transparent, automatic
and security policy-driven. This solution is easy to implement
for enterprises or government agencies. The Prim’X high-grade
encryption solution has been provided for multiple major
clients, such as EU, BNP Bank, Thales, the French Interior
Ministry, etc.
As the trusted partner in Authentication and Security solutions,
MK Group, via the conference “Promoting the application of
cryptography products for socio-economic development”, hopes
to introduce and provide organizations with efficient encryption
methods enhancing data security in daily operations and
production.
MK GROUP PARTICIPATES IN THE CONFERENCE “PROMOTING THE APPLICATION OF CRYPTOGRAPHY PRODUCTS AND SERVICES FOR SOCIO-ECONOMIC DEVELOPMENT”
On August 8th, 2017 at JW Marriott hotel, the conference
“Promoting the application of civil encryption products and
services for socio-economic development” was held by
Department of Civil Cryptography Management and
Cryptographic Product Testing, Government Cipher
Committee.
This was the discussion forum on research, development
and application of cryptography products, contributing to
the improvement of state management mechanism and
policies on cryptography products. It also was the
opportunity for leading technology companies to introduce
technical solutions, technologies and security products,
promoting the application of cryptography to information
security in socio-economic field.
The conference was attended by key stakeholders
representing the Government office, Ministry of Information
and Communications, Government Cipher Committee,
departments for managing and applying information
technology and information security of the ministries and
MK World of Cards ©2017 MK Group thegioithe@mkgroup.com.vn www.facebook.com/mkgroup1999 (84-24) 6266 2703 - 513
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Entrust Datacard, a leading provider of trusted identity and secure transaction technology solutions, announced
the launch of IntelliTrust authentication service – its new authentication cloud service with Mobile Smart
Credential technology. This powerful, advanced adaptive authentication solution leverages the low touch
deployment aspects of the cloud with new levels of intelligent identity capabilities to provide for a better user
experience with stronger security in an easy-to-deploy model.
Entrust Datacard is shaping the next generation of authentication through the seamless experience of intelligent
identity across users and devices through a single unified experience across platforms. As organizations
accelerate mobile and cloud deployment and introduce new digital transformation initiatives, the risk of cyber
intrusion and the need for transparent, secure access have never been higher. Employees and customers around
the world expect simple security that transforms as they move from one device to another. Now, advanced
authentication that was once too complex to be used outside of federal governments, global banks and large
corporations is available to organizations as a lightweight cloud service, eliminating the need for specialized
security skills and sophisticated IT develops programs.
Mobile solutions are fundamentally changing the way we live and the way in which both consumers and
employees behave. Employees are no longer tethered to desktop computers, instead, transitioning between
desktop, laptop and mobile devices within a single session. To achieve a secure environment without hampering
productivity, organizations must enable access to mobile while protecting the extended enterprise beyond just
SaaS apps.
With IntelliTrust authentication service, organizations can rapidly secure access to cloud, mobile and legacy
applications using a unified authentication platform that will extend beyond their current needs by delivering
transparent security and broad use case enablement across the organization.
Additionally, IntelliTrust features intuitive graphical interfaces and point-and-click provisioning equips IT teams
with tools to build sophisticated, customized risk policies with ease. Coupling the most comprehensive suite of
security features with highly configurable parameters provides the flexibility to tailor and quickly deploy
authentication solutions and meet evolving business requirements.
(Entrust Datacard)
Entrust Datacard Creates the Modern Authentication Solution with the Introduction of IntelliTrust Authentication Service
PARTNER NEWS
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VIETNAM NEWS
Banks apply free on-net money withdrawal, account transfer
Despite being allowed to charge on-net fees for automatic telling machine (ATM) transactions, some commercial banks have
recently applied the exemption to on-net money withdrawal and account transfer to attract new customers and develop the
retail banking segment.
ACB is offering a programme on exemption of money withdrawal fee for international platinum debit cards, while Viet
Capital Bank and SCB have exempt money withdrawal fee for international and domestic debit cards.
The exemption of money withdrawal fee at all ATMs nationwide is also being offered by other banks such as TPBank and
BaoVietbank.
Talking about the move, Viet Capital Bank said free money withdrawal via ATM will encourage people to make non-cash
payments. This policy is being implemented with great support from banks.
A representative from another bank said State Bank of Vietnam approved commercial banks to charge on-net fees for ATM
transaction since March 2013 to offset the cost of purchasing machines and periodic maintenance, however, some banks are
now willing to offset the losses to increase customers.
According to the representative, the bank having cardholders still has to pay VND3,300 to their partner for each external
money withdrawal. Therefore, ATM operations of the bank have never been profitable.
Industry insiders admitted that ATM card service companies often incur losses because an ATM costs tens of thousands of
US dollars besides large annual maintenance fees. In addition, the cost of renting sites to install ATMs is becoming more and
more expensive. Interest from non-term deposits of ATM cardholders therefore is not enough to offset the costs.
To offset the costs, the money withdrawal fee charged at other banks averages VND1,000-3,000 per transaction and the fee
for inter-bank money transfer is VND11,000.
According to banking experts, the fee exemption policy at some banks is within the banks’ retail banking development plan,
and is also a way for banks develop individual customers as well as products and services for the customers.
This is also the premise based on which banks can promote other products and services, such as Mobile Banking and
Internet Banking, they said.
The country currently has more than 17,000 ATMs nationwide.
(Bizhub)
❖ To welcome the National Day on September 2, Vietcombank
will offer its card holders free-of-charge services relating to
debit cards and credit cards from August 1 to September 30. If
clients have newly issued or reissued credit cards, they do not
have to pay annual fee in the first year as long as they conduct
payment transaction of minimum value of VNĐ100,000
(US$4.4), excluding cash withdrawal transactions.
❖ PVcomBank has made great efforts to expand its service
networks nationwide which allow their customers to make
online payments such as electricity, water, cable TV, air ticket,
etc.
❖ Sacombank is launching the program “Welcome autumn with
thousands gifts” from now until 14th October 2017 with the
total value of 1.3 billion VND for individual customers using
Sacombank eBanking services such as Internet Banking,
Mobile Banking application and Mobile Banking web.
❖ Petrolimex in collaboration with National Payment
Corporation of Vietnam (NAPAS) and PG Bank signed a
cooperation agreement on July 26 in Hanoi. The parties also
announced the successful connection of payment services by
ATM card at POS of PG Bank located at Petrolimex’s petrol
station systems. From August 1st, ATM cardholders of 41
Napas bank members can make payments for goods and
services of Petrolimex at 2,361 stores nationwide.
(Collected on the Internet)
VIETNAM NEWS IN BRIEF
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BIOMETRIC NEWS
British people look to security measures more than
rates when choosing banks, and biometrics is their
preferred authentication method, finds a new survey.
In the survey by specialist lender and savings bank
Aldermore, 88% of those surveyed say interest rates
are important when choosing a savings provider,
slightly ahead of the amount of people who say good
customer service is important, 86%.
When it comes to seeking higher returns in a low
interest rate environment, nearly one in five (19%) 18-
34 year olds would consider riskier savings and
investment products which offer higher rates of
returns but less protection, compared to only 5% of
over-55s.
Across the UK, two thirds (66%) of respondents
would not consider using a savings provider that is
not covered by the Financial Services Compensation
Scheme (FSCS), despite the opportunity to benefit
from higher interest rates on their savings.
According to the research, the biggest concern for over
a third (35%) of people is the threat of direct theft
through online hacking.
Brits prefer biometrics for banking
When asked what would help consumers trust their
bank or savings provider more when it comes to
security, nearly nine in ten (89%) say they want to see
further investment in security technology and 88%
want their bank or savings provider to regularly
update its security procedures. In addition to this,
nearly six in ten (57%) would trust their bank or
savings provider more if it offered biometric
authentication.
(Planetbiometrics)
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SECURITY NEWS
EAST has published its second European Fraud Update for 2017,
based on country crime updates from representatives of 21
countries in the Single Euro Payments Area and five non-SEPA
countries.
Ten countries reported payment fraud issues. One country
reported a new type of fraud in which the card primary account
number is compromised in China, leading to fraud in that
country. In these cases the CPP is sometimes detected, but most
of the time it is not. Another country reported data compromise
due to voice phishing (aka "vishing") attacks, "phishing" websites
and "SMiShing" (i.e., attack via SMS phishing). Fifteen countries
reported ATM malware and logical security attacks. So far in
2017, EAST has published 10 related fraud alerts.
Two of the 15 countries reported ATM malware and 14 reported
the use (or attempted use) of black box devices to allow the
unauthorized dispensing of cash. Five countries reported black
box attacks for the first time, further indication that this type of
attack is continuing to spread.
Nineteen countries reported skimming at ATMs. The use of M3
category (card reader internal skimming) devices continues to
spread. This type of device can be placed at various locations
inside the motorized card reader behind the shutter. Nine
countries reported such attacks; in 2017, EAST has published six
M3-related fraud alerts.
International skimming-related losses were reported in 49
countries and territories outside of the Single Euro Payment Area
EAST issues 2nd update on ATM-related crime in 2017
and in 9 countries within SEPA. The top three locations for
such losses were are the U.S., Indonesia and the Philippines.
Ten countries reported skimming attacks on other terminal
types and five countries reported such attacks on
unattended payment terminals at petrol stations. Two
countries reported the use of card reader internal shimming
devices at POS terminals.
Eight countries reported incidents of transaction reversal
fraud. One country reported a significant increase in TRF
attacks and two countries reported attacks for the first time.
Ram raids and ATM burglaries were each reported by nine
countries. This year, EAST has published nine related ATM
physical attack alerts.
Six countries reported the use of solid in attacks. The spread
of this type of attack is a matter of growing concern to the
industry due to the risk it poses to life and to the significant
amount of collateral damage to equipment and buildings.
(ATMmarketplace)
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CARD & PAYMENT NEWS
Cards have overtaken cash as the primary method for
consumer payments in Australia, according to data released
by the country's central bank.
The Reserve Bank's triennial Consumer Payments Survey
(CPS) recorded information on around 17,000 day-to-day
payments made by over 1500 participants during a week.
Cards were the most frequently used means of payment in the
2016 survey, overtaking cash for the first time, driven by the
growing popularity of contactless tap-and-go transactions.
In 2013, cash was used in 47% of payments, compared to 43%
for cards. Three years on, this outcome has now flipped so that
52% of payments are now via card, compared to just 37% by
cash.
Commenting on the results, Fintech Australia CEO Danielle
Szetho, says: “This outcome isn’t surprising, given the
digitally savvy nature of Australian consumers and the fact
that penetration of digital point-of-sale terminals and
contactless card payments in Australia are among the highest
in the world."
Despite these trends, cash still accounts for a material share of
consumer payments and is "intensively used" by some
segments of the population, says the RBA. Fintech Australia is
putting its faith in the incoming New Payments Platform to
further drive out cash and lay the foundations for future
innovation.
Cards overtake cash for
consumer payments in Australia
An American company is inviting employees to get RFID
chips that can be used to buy food in the office break room
implanted in their hands.
Three Square Market, which makes self-service micro markets
for office break rooms, says it expects over 50 staffers to
volunteer for the free chips, which it is working with Sweden's
BioHax on.
The employees will get chipped at a 'chip party' on 1 August,
after which they will not only be able to make contactless
purchases at the firm's micro market but also open doors and
log into their computers.
Todd Westby, CEO, three Square Market, says: "We foresee the
use of RFID technology to drive everything from making
purchases in our office break room market, opening doors, use
of copy machines, logging into our office computers,
unlocking phones, sharing business cards, storing
medical/health information, and used as payment at other
RFID terminals.
"Eventually, this technology will become standardized
allowing you to use this as your passport, public transit, all
purchasing opportunities, etc."
(Finextra)
US firm to implant employees
with RFID chips
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Within the US, 660 bank holding companies associated with regulated depository commercial
banks and savings banks exist with $1 billion or more in assets according to data sourced
from SNL.
These banks engage in a wide spectrum of banking and related services including issuing
consumer credit cards and enabling business and commercial banking clients to accept cards
(i.e., “acquiring”), writes Frank Martien, Managing Director, specializing in Commercial
Payments and Bankcard Issuing at First Annapolis.
These banks were segmented by total assets as of March 31, 2017. Figure 1 depicts prevalence
of consumer credit card programs and merchant acquiring programs among these segments.
Figure 1: U.S. Bank Holding Companies Segmented by Total Asset Range
1 Includes eight banks with reported 1Q 2017 acquiring volume: BB&T, Capital One, Citi, Chase,
PNC, TD, U.S. Bank, and Wells Fargo. 2 Includes Amex, Barclays, and Discover. 3 Includes ADS
and First National of Omaha.
Segmenting US banks: Focus on card issuing and presence of acquiring
These banks were further segmented in Figure 2 by (a) those that issue consumer credit
cards and acquire; versus (b) those that issue but do NOT acquire to assess any observed
differences in growth rates in credit card balances.
Figure 2: Growth Rate in Consumer Credit Card Balances (1Q 2016 to 1Q 2017)
1 Excludes Amex, Barclays, Discover, ADS, BMW, CardWorks (Merrick), TIB, and World’s
Foremost Bank (Cabela’s). 2 Excludes Huntington, which did not report acquiring volume in 1Q
2017; but experienced close to a doubling in reported consumer credit card balances year over year.
For banks that issued cards and acquired, growth in credit card balances was observed to
be significantly higher overall (+8% versus -7%) and within three of the bank segments:
>$200 billion, $100 to 200 billion, and $10 to 30 billion.
One may speculate that banks that issue and acquire may be more strategically focused on
card payments generally and that certain synergies may exist or be possible between
issuing and acquiring lines of business. Looking forward, these synergies could become
more prominent as broader forces, such as e-commerce and FinTech, have an increasingly
pronounced impact on traditional models heretofore deployed for cards-related
businesses.
(Paymentscardsandmobile)
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