EU New Regulation | Mobile Payment Security Brought To The Forefront
While merchant enjoying greater customer experience and enhanced operation efficiency provided by mobile payment devices, they should not ignore the hidden danger of payment security inside the payment devices. EU specially issued a new regulation to prevent payment safety peril and further protect customer right and interest. If merchants did not pay enough attention to payment security, even innovative product will be detested by customers. Earlier, 7-Eleven launched a cashless smartphone payment app called 7 pay which was cracked by hackers on sooner through payment problems, resulting in customer payment information stolen and fund lost, badly reduce customers trust on it. According to a report from ZDNet, an America technology website, there is a huge security flaw in 7pay's password reset feature. The password reset link can be sent to any third party email address instead of originally registered email address. Lacking secondary verification, hac...