The SA credit card industry says there is no chance of a hacker gaining access to local credit cards - as happened to eight million accounts in the US - because the industry structure is different. But not everyone plays by the rules.
The credit card industry has been rocked further with the news that the number of accounts that have been compromised by a hacker has grown to about eight million. The FBI is involved in the investigations.
A hacker has gained access to as many as 2.2 million US Visa and MasterCard accounts, the two companies announced yesterday.
Local banks are moving quickly to meet future international security requirements for their automatic teller machines (ATMs) and point-of-sale systems. This move has become more pressing as the existing cryptographic algorithm has been cracked.
NSFAS fintech partners to challenge contract cancellations
In this week's tech news roundup, Fintech partners contracted to disburse monthly allowances to NSFAS-funded tertiary students have challenged the allegations levelled against them, saying they are considering legal action. eZaga and Tenet Technology have denied the allegations made against them and claim to not have received the full report in which these were made Stay informed and engaged with our comprehensive coverage of these stories and more on our website, www.itweb.co.za and social media platforms. Discover the latest advancements shaping the future of technology by ITWeb. #newsvideo #sita #nsfas https://www.itweb.co.za/content/DZQ58MV8yPAvzXy2 https://www.itweb.co.za/content/rxP3jqBEax8MA2ye https://www.itweb.co.za/content/xnklOvz1dnYq4Ymz https://www.itweb.co.za/content/dgp45vaBPVJ7X9l8 https://www.itweb.co.za/content/P3gQ2qGAPrg7nRD1
The link between banks and the IT industry has been close and strong for some years, but an international survey highlights the fact that banks are becoming a lot stricter on their expenditure.
SA banks are moving quickly to meet future international security requirements for their automatic teller machines, says Gerhard Claassen, MD of the Crypto business unit at Prism Holdings.
AdvanceNet Pivotal has announced the availability of a vertical solution for commercial banking.
Huawei Cloud drives African FinTech innovation
Mark Wang, Solution Architect at Huawei Cloud Southern Africa, spoke to ITWeb about Huawei being a strategic partner in the banking sector. He also addressed challenges for banks in SA and potential growth in the payment ecosystem for customers. #huaweicloud #fintech #digitalbanking
The ATM Annuity division of National Data Systems (NDS) has unveiled the National Cash Plus EasyPoint 5303 co-branded Absa ATM machine.
SensePost and RedPay have partnered to provide the SA Reserve Bank (SARB) with a range of payment and information security services.
BoE Bank has signed an enhanced RiskMentor consulting contract with PIC Solutions.
The future of banking in Africa
MTN and Huawei, in partnership with Brainstorm magazine, held an executive roundtable on 11 May for industry insiders from the financial sector to discuss emerging technologies and digitisation in the banking space. #mtn #huawei #fintech
Local ACCPAC business partner Alltek Systems has upgraded FNB Corporate Bank's creditors systems using the ACCPAC Advantage Series 5 solution.
eBucks.com, banking group FirstRand`s e-commerce venture, has achieved profitability eight months ahead of the group`s initial expectations.
Secure electronic fund transfer (EFT) payments can now be made to the taxman without being affected by debit order and cheque limits imposed last year.