{ MARCH 2022 }

{ Eight-digit BINs, Visa incentives, a major cyber attack, $100MM in Series B funding }

{ THE NEWS }

 

BIN-FUTURE RANGE

 

Eight-digit BINs are becoming a must with six-digit combinations dwindling
BINs - or Bank Identification Numbers - have standardly been the first four to six digits on a charge or debit card to identify the institution that issued the card. With no plans to increase the numbers in a PAN (Primary Account Number), this reduces the masked numbers by 33%. Understand the implications for merchants - particularly the issues around compliance with requirements with The Payment Card Industry Data Security Standard (PCI DSS) - and what companies are already making the shift:
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Visa incentivizes merchants to accept network token transactions with lower interchange fees
Beginning in April, merchants accepting payments from secure digital wallets—specifically the network tokenized transactions occurring on platforms such as Google Pay, Apple Pay, and Visa Click to Pay—can qualify for reduced interchange fees. Learn more about the benefits of network tokens and what else merchants can expect from accepting them:
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Cybercriminals steal $321 million in wrapped Ethereum via a Wormhole vulnerability
On February 2, 2022, cybercriminals identified a vulnerability in the Wormhole platform, allowing them to steal a staggering $321 million in wrapped Ethereum (wETH). The hackers minted and then stole 120,000 wETH tokens on the Solana blockchain network. Additionally, the crypto thieves also converted 80,000 of the stolen wETH tokens to Ethereum, selling the remaining tokens on Solana. Read more about this hack as well as additional tactics in the crypto space:
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Seven Russian Banks have been removed from the financial communication service, SWIFT, putting significant pressure on their economy
Given the current crisis in Ukraine, many countries are imposing financial restrictions on Russia. One of the largest actions to date has been the removal of seven key Russian banks from the financial communication service, SWIFT. Learn more about SWIFT and their global economic impact:
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TokenEx receives $100 million in Series B funding to fuel next phase of growth
TokenEx has raised $100 million in Series B funding from K1 Investment Management, a leading investment firm focused on high-growth enterprise software companies globally. TokenEx will use the new funding to invest further in its product, customer service, and account management teams as well as scaling its global operations. Learn more about the investment and what this means for TokenEx:
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{ THE KNOW }

Data In Transit vs Data at Rest IG
DATA SECURITY

Securing Data at Rest vs Data in Transit

Examining the different states your data goes through helps ensure that your sensitive data is protected through every step of the process.

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Payment Orchestration vs Processing IG
PAYMENTS

Payment Orchestration vs. Payment Processing

Dive into what these payment solutions are and how they are different to help you find the best option for your organization.

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{ THE FUN }

What Does "STO" Stand For?

A.  Safe Token Operation
B.  Security Token Offering
C.  Severe Token Opening
D.  Secret Token Ownership

 

REVEAL ANSWER

 


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