U.S. To Invest $9.5 Billion In Smartcards
<p> <location idsrc="xmltag.org" value="LU/us.dc.wash">Washington D.C.</location> (PRWEB) <chron>December 01, 2014</chron></p> <p> According to the new <a href="http://homelandsecurityresearch.com/2014/10/u-s-banking-financial-services-retail-payment-cybersecurity-market-2015-2020/">U.S. Banking, Financial Services, <org>Retail & Payment Cybersecurity Market</org> – 2015-2020</a> report, published by <org>Homeland Security Research</org> (HSRC), the flood and sophistication of "successful" cyber-attacks during 2013 and 2014, pressed the U.S. administration, retail and payment cards industries to replace over one billion insecure magnetic-stripe payment cards, 1.2 million point of sale (POS) card readers and 7 million card reading terminals with the global EMV (EuroPay, <org idsrc="xmltag.org" value="NYSE:MA">MasterCard</org>, and Visa ) standard Chip & PIN (Personal Identification Number) technology. The report forecasts that this process will cost more than <money>$9.5B</money> and that it will take until 2018 to reach a penetration of 80%. This is in sharp contrast to the retail & payment cards industry commitment to complete the conversion by <chron>December 2015</chron>.</p> <p> According to the report, organized cybercrime rings are persistently coming up with new and creative methods of stealing funds and identities. As a result, payment cards customers are losing confidence in the industry's ability to stop these crimes and frequently change providers after experiencing fraud.</p> <p> The <a href="http://homelandsecurityresearch.com/2014/10/u-s-banking-financial-services-retail-payment-cybersecurity-market-2015-2020/">report</a> also shows that much of the U.S. customers' vulnerability stems from outdated U.S. payment cards technology. As of <chron>January 2014</chron>, 95% of U.S. payment cards still use the 1970's magnetic strip technology. This makes the U.S. the only G-20 country that uses this insecure technology, while more than 100 countries have converted their payment cards to the secure Chip & PIN smartcard technology by 2004.</p> <p> Smartcards contain an embedded microchip and are authenticated using a PIN. When a point of sale (POS) terminal is connected to the network, the authenticity of the card and chip can be confirmed, along with the PIN, with the bank servers. If the POS terminal is not connected to the network, the chip can confirm to the terminal if PIN was entered correctly. <location idsrc="xmltag.org" value="LC/fr">France</location>, for example, has cut face to face and ATM transactions fraud by more than 80% since the introduction of Chip & PIN EMV smartcards</p> <p> The report concludes that in reaction to the growing payment cards fraud, major retail chains such as Home Depot, Target, <org idsrc="xmltag.org" value="NYSE:WAG">Walgreens</org> and <org idsrc="xmltag.org" value="NYSE:WMT">Walmart</org> joined Visa and <org idsrc="xmltag.org" value="NYSE:AXP">American Express</org> and committed to replace the magnetic stripe cards and POS readers to the secured Chip & PIN technology by <chron>December 2015</chron>. Signed on <chron>October 10th, 2014</chron>, <person>President Obama's</person> "BuySecure" Executive Order lays out a new policy to secure payments to and from the federal government by applying Chip & PIN technology to newly issued and existing government credit cards, as well as debit cards like Direct Express, and upgrading retail payment card terminals at federal agency facilities to accept chip and PIN-enabled cards.</p> <p> Some US banks issued Chip and PIN cards for their more affluent, frequent-travel customers. However, even though these cards have chips on board, many are in fact "Chip and Signature" cards as they require verification with a signature instead of an encoded PIN. As a result, such cards do not work on standalone kiosks for Chip and PIN cards, and also have similar vulnerabilities to the traditional magnetic swipe cards.</p> <p> According to the report, the <org>U.S. Financial Services</org>, <org>Retail & Payment Cybersecurity Market</org> is the largest and fastest growing private sector cybersecurity market. Based on our <chron>October 2014</chron> survey of financial industry CEOs, CISOs and CIOs, we forecast a onetime 2015/2014 market hike of 23%.</p> <p> The report examines each dollar spent in the market via two orthogonal money trails: Technology & Service sectors and the Banking & Financial Services Industry sector that procure the products & services. Within these trails, the report is further granulated into 25 sub-markets, 18 technologies, solutions & services and 7 financial industry sectors.</p> <p> Also included in this report is a roster of 21,643 banking and financial services enterprises that are potential cybersecurity customers. 87% of the listed enterprises include corporate contact information. Provided in an Excel file, the roster is segmented into 10 U.S. financial industry sectors (e.g., Banks, Credit Card Issuers, Credit Unions, Insurance Companies, Pension Funds, Accounting Companies, Stock Brokerage Companies, Stock Exchanges, Mortgage Companies and Real Estate Investment Companies).</p> <p> The report presents in 704 pages and 259 tables & figures, analysis of 23 current and pipeline services & technologies and 193 leading cybersecurity vendors. It is explicitly tailored for both the cybersecurity industry and banking & financial services industry decision-makers. The report details market & legislation trends, and enables the two communities to identify business opportunities, present and pipeline technologies, market size, drivers and inhibitors. It also provides for each submarket 2013 -2014 data, analyses, and projects the 2015-2020 market and technologies from several perspectives, including:<br /> <br /> • Business opportunities and challenges<br /> • SWOT analysis<br /> • Market analysis (e.g., market dynamics, market drivers and inhibitors)<br /> • 2013-2020 market size data & forecasts, current & emerging technologies & services, key facts, sector background and analysis of the following 18 sub-markets: 1. Endpoint Security<br /> 2. Identity and Access Management<br /> 3. Mobile Enterprise Management<br /> 4. Mobile Security<br /> 5. Security Information and Event Management<br /> 6. Content Security<br /> 7. Data Loss Prevention (DLP)<br /> 8. Datacenter Security<br /> 9. Firewall<br /> 10. Next Generation Firewall<br /> 11. IDS/IPS<br /> 12. Unified Threat Management<br /> 13. Cloud-Based Services<br /> 14. Vulnerability/Risk Management & Managed Security Services<br /> 15. Consulting Services<br /> 16. Integration Services<br /> 17. Education and Training Services<br /> 18. Forensics, VPN, Web Security, Policy & Compliance and Other Services<br /> • 2013-2020 market size data & forecasts, key facts and analysis of 7 banking & financial services sectors including: 1. U.S. Banking Industry<br /> 2. U.S. Insurance Industry<br /> 3. U.S. Payment Card & Mobile Payment Providers and Retailers industry<br /> 4. <org>U.S. Government Related Financial Services</org> industry<br /> 5. U.S. Stock Brokerages & Exchanges<br /> 6. U.S. Pension Funds industry<br /> 7. U.S. Credit Unions, Investment Funds, Accountancy Companies & Other financial sectors<br /> The report includes the following 8 Appendices:<br /> 1. Appendix A: Other Banking & Financial Services Cybersecurity Solutions<br /> 2. Appendix B: Techno-Tactical Trends<br /> 3. Appendix C: Cyberspace Layers<br /> 4. Appendix D: Cybersecurity Standards<br /> 5. Appendix E: The E.U. Banking and Financial Services Security Regulations<br /> 6. Appendix F: Payment Card Transactions & Security Systems<br /> 7. Appendix G: Financial Sector Acronyms & Glossary<br /> 8. Appendix H: NIST - Framework for Improving Critical Infrastructure Cybersecurity<br /> • 191 Cybersecurity companies operating in the market (profiles, contact information & management personnel) including: 41st Parameter, <org idsrc="xmltag.org" value="NYSE:ACN">Accenture</org>, Agiliance, <org idsrc="xmltag.org" value="Korea:0538">AhnLab</org>, <org idsrc="xmltag.org" value="LSE:0KVV">Airbus</org>, <org idsrc="xmltag.org" value="ACORN:2548781823">AirWatch</org>, <org idsrc="xmltag.org" value="NASDAQ-NMS:AKAM">Akamai</org>, Alert Logic, AlertEnterprise, AlienVault, Alt-N Technologies, Application Security, <org idsrc="xmltag.org" value="ACORN:1712145277">AppSense Limited</org>, Arbor Networks, Attachmate, Authentify, <org>AVAST Software</org>, Aveksa, <org idsrc="xmltag.org" value="NYSE:AVG">AVG Technologies</org>, <org idsrc="xmltag.org" value="ACORN:3657028655">Avira</org>, <org idsrc="xmltag.org" value="NYSE:CUDA">Barracuda Networks</org>, Beyond Security, BeyondTrust, <org idsrc="xmltag.org" value="ACORN:1789163454">Bit9</org>, Bitdefender, BlackBerry, <org idsrc="xmltag.org" value="ACORN:1741078707">BlackStratus</org>, <org idsrc="xmltag.org" value="ACORN:3592433685">Blue Coat Systems</org>, <org idsrc="xmltag.org" value="ACORN:2056394310">BoxTone</org>, <org idsrc="xmltag.org" value="ACORN:0899670022">Bromium</org>, BullGuard, <org>Cassidian Communications, Inc.</org>, Catbird Networks, Centrify, <org idsrc="xmltag.org" value="ACORN:2660066805">Cenzic</org>, Check Point, <org idsrc="xmltag.org" value="ACORN:3331423153">CipherCloud</org>, <org idsrc="xmltag.org" value="NASDAQ-NMS:CSCO">Cisco Systems Inc</org>, Clearswift, Click Security, CloudFlare, CloudLock, Code Green Networks, <org>Commtouch Software</org>, Comodo, CORE Security, <org idsrc="xmltag.org" value="LSE:CNS">Corero Network Security</org>, Courion,Covisint, <org>CrowdStrike Holdings</org>, CSID, <org idsrc="xmltag.org" value="OTC-PINK:CYPJ">Cyber Operations</org>, Cyber-Ark, <org idsrc="xmltag.org" value="ACORN:1868410121">CyberArk Software</org>, <org idsrc="xmltag.org" value="ACORN:0960647906">Cyberoam</org>, <org idsrc="xmltag.org" value="NASDAQ-SMALL:CYRN">Cyren</org>, Damballa, DigiCert, <org idsrc="xmltag.org" value="OTC-PINK:DGIF">Digital Info Security Company</org>, <org idsrc="xmltag.org" value="ACORN:0383574306">EdgeWave</org>, EiQ Networks, Elbit Systems,Enterasys Networks, Entrust, <org idsrc="xmltag.org" value="ACORN:4144608331">ESET</org>, <org idsrc="xmltag.org" value="OTC-PINK:EXBX">Exobox Technologies Corp</org>, <org idsrc="xmltag.org" value="NASDAQ-NMS:EXTR">Extreme Networks</org>, Faronics Technologies, Fast facts, <org idsrc="xmltag.org" value="ACORN:0742336631">Fiberlink</org>, <org>Fidelis Security Systems</org>, <org idsrc="xmltag.org" value="NASDAQ-NMS:FEYE">FireEye</org>, FireMon, <org idsrc="xmltag.org" value="ACORN:3263627415">ForeScout Technologies</org>, FoxGuard Solutions, <org idsrc="xmltag.org" value="Helsinki:FSC1V">F-Secure</org>, <org>Fulcrum IT Services Company, LLC</org>, G2 Web Services,Gemalto, <org idsrc="xmltag.org" value="NYSE:GD">General Dynamics</org>, <org>GFI Software</org>, Good Technology, Guardian Analytics, <org idsrc="xmltag.org" value="NASDAQ-NMS:GUID">Guidance Software</org>, <org idsrc="xmltag.org" value="NYSE:HPQ">Hewlett-Packard Co</org>, HyTrust, ID Analytics, <org idsrc="xmltag.org" value="Korea:067920">Igloo Security Inc</org>, <org idsrc="xmltag.org" value="NYSE:IMPR">Imprivata</org>, <org>Intel Security Group</org>, <org idsrc="xmltag.org" value="NYSE:IBM">International Business Machines Corp</org>, <org idsrc="xmltag.org" value="OTC-PINK:INTZ">Intrusion Inc</org>, <org idsrc="xmltag.org" value="ACORN:1439245539">IOActive</org>, Iovation, Juniper Network,<org>Kaspersky Lab</org>, <org idsrc="xmltag.org" value="NYSE:LLL">L-3 Communications</org>, <org>Lacoon Security Ltd</org>, Lancope, <org>LANDesk Software</org>, <org idsrc="xmltag.org" value="ACORN:2701288759">LogRhythm</org>, Lookingglass Cyber Solutions, Lookout Mobile, <org idsrc="xmltag.org" value="ACORN:2890468755">Lumension Security</org>, M5 Network Security, <org idsrc="xmltag.org" value="ACORN:3577639418">Mandiant</org>, <org idsrc="xmltag.org" value="NASDAQ-NMS:MANT">Mantech International Corp</org>, Memento, <org>Merlin International</org>, <org>MessageLabs</org>, <org idsrc="xmltag.org" value="ACORN:2238690386">MetricStream</org>, Mobile Active Defense, Mobile Vault, <org idsrc="xmltag.org" value="NASDAQ-NMS:MOBL">MobileIron</org>, <org idsrc="xmltag.org" value="LSE:MBO">Mobilityone Ltd</org>, Mocana, MU Dynamics, N-Dimension Solutions, <org idsrc="xmltag.org" value="ACORN:3581340337">NetCentrics Corporation</org>, <org>Network Security Systems</org>, <org>Nics Tech Co., Ltd.</org>, <org idsrc="xmltag.org" value="ACORN:4142019266">NIKSUN</org>, <org>NSS Labs, Inc.</org>, <org idsrc="xmltag.org" value="Bombay:530175">Odyssey Technologies</org>, Okta, OpenDNS, <org idsrc="xmltag.org" value="ACORN:2553545477">Palantir Technologies Inc</org>, <org idsrc="xmltag.org" value="NYSE:PANW">Palo Alto Networks Inc</org>, <org idsrc="xmltag.org" value="ACORN:1542867741">Panda Security</org>, ParetoLogic, <org idsrc="xmltag.org" value="ACORN:0855561177">Perimeter Internetworking Corp.</org>, PerspecSys, Ping Identity, Prolexic Technologies, <org idsrc="xmltag.org" value="NASDAQ-NMS:PFPT">Proofpoint</org>, <org idsrc="xmltag.org" value="NASDAQ-NMS:QLYS">Qualys, Inc.</org>, <org>Quick Heal Technologies (P) Ltd.</org>, QUMAS, QuoVadis,<org>Radware Ltd</org>, <org idsrc="xmltag.org" value="ACORN:0414358757">Rapid7</org>, <org idsrc="xmltag.org" value="ACORN:0631579199">Raytheon Pikewerks Corporation</org>, <org>Red Lambda Inc.</org>, <org>ReD plc</org>, <org>RedSeal Networks, Inc.</org>, <org>Retail Decisions Plc</org>, <org idsrc="xmltag.org" value="ACORN:2873318664">RLM Communications, Inc.</org>, <org idsrc="xmltag.org" value="ACORN:2976359222">RSA Security LLC</org>, <org idsrc="xmltag.org" value="ACORN:0640518546">SafeNet, Inc.</org>, <org idsrc="xmltag.org" value="ACORN:0890084074">SailPoint Technologies, Inc.</org>, <org>SAINT Corporation</org>, <org idsrc="xmltag.org" value="ACORN:3115718838">Salient Federal Solutions, Inc.</org>, SecurityMetrics, <org idsrc="xmltag.org" value="Australia:SEN">Senetas Corp Ltd</org>, <org idsrc="xmltag.org" value="ACORN:2918678959">SilverSky</org>, <org>Skybox Security Inc.</org>, <org idsrc="xmltag.org" value="NYSE:SWI">SolarWinds</org>, <org>Solera Networks Inc.</org>, <org idsrc="xmltag.org" value="LSE:SOPH">Sophos Ltd.</org>, <org idsrc="xmltag.org" value="ACORN:2613762283">Sotera Defense Solutions, Inc.</org>, <org idsrc="xmltag.org" value="NASDAQ-NMS:SPLK">Splunk Inc.</org>, Stormshield Network Security (Formerly: <org>NETASQ S.A.</org>), <org idsrc="xmltag.org" value="OTC-PINK:SFOR">Strikeforce Technologies</org>, <org idsrc="xmltag.org" value="NASDAQ-NMS:SYMC">Symantec Corporation</org>, Sympli ied, Inc., <org idsrc="xmltag.org" value="LSE:SNX">Synectics Plc</org>, <org idsrc="xmltag.org" value="NASDAQ-NMS:TNGO">Tangoe</org>, <org>TeleSign Corp.</org>, <org idsrc="xmltag.org" value="ACORN:2114746823">Tenable Network Security</org>, Thales, <org idsrc="xmltag.org" value="NASDAQ-NMS:KEYW">The KEYW Holding Corporation</org>, ThreatMetrix, <org idsrc="xmltag.org" value="NASDAQ-NMS:TIBX">TIBCO Software</org>, TraceSecurity, <org idsrc="xmltag.org" value="Tokyo:4704">Trend Micro Inc</org>, <org idsrc="xmltag.org" value="ACORN:0276476142">Tripwire</org>, Trusteer, Trustwave, <org>Utimaco Safeware, Inc.</org>, <org>Vanguard Integrity Professionals, Inc.</org>, <org idsrc="xmltag.org" value="NASDAQ-NMS:VRNS">Varonis Systems</org>, <org idsrc="xmltag.org" value="NASDAQ-SMALL:VDSI">VASCO Data Security International</org>, Venafi, <org idsrc="xmltag.org" value="ACORN:2562102270">Veracode</org>, <org idsrc="xmltag.org" value="ACORN:2567863009">Verdasys</org>, <org idsrc="xmltag.org" value="NASDAQ-NMS:VRNT">Verint Systems Inc</org>, <org idsrc="xmltag.org" value="ACORN:4008075240">WatchGuard Technologies</org>, Webroot, WhiteHat Security, Workshare Technology, <org idsrc="xmltag.org" value="NASDAQ-NMS:ZIXI">Zix Corporation</org>, Zscaler<br /> • The report includes contact information of 87% of the following U.S. financial institutions in an attached Excel file: 6665 Banks<br /> 770 Credit Card Issuers<br /> 6977 Credit Unions<br /> 944 Insurance Companies<br /> 252 Pension Funds<br /> 1277 Accounting Companies<br /> 3817 Stock Brokerage Companies<br /> 18 Stock Exchanges<br /> 831 Mortgage Companies<br /> 92 Real Estate Investment Companies<br /> Total 21,643</p> <p> Explore more Homeland Security and Public Safety Reports at <a href="http://www.homelandsecurityresearch.com">http://www.homelandsecurityresearch.com</a>.</p> <p> About <a href="http://www.homelandsecurityresearch.com"><org>Homeland Security Research Corp</org></a>. (HSRC)<br /> HSRC is a <location idsrc="xmltag.org" value="LU/us.dc.wash">Washington, D.C.</location> based international market research and strategic consulting firm serving the Homeland Security and Public Safety communities. HSRC provides premium market, present & emerging technologies and industry expertise, enabling our global clients to gain critical insight into the business opportunities that exist within the Homeland Security & Public Safety markets. Government clients include the <org>U.S. Congress</org>, DHS, <org>U.S. Army</org>, <org>U.S. Navy</org>, <org>NATO</org>, <location idsrc="xmltag.org" value="LC/gb">U.K.</location>, <location idsrc="xmltag.org" value="LC/jp">Japan</location>, <location idsrc="xmltag.org" value="LC/kr">Korea</location>, <location idsrc="xmltag.org" value="LC/tw">Taiwan</location>, <location idsrc="xmltag.org" value="LC/il">Israel</location>, <location idsrc="xmltag.org" value="LC/ca">Canada</location>, <location idsrc="xmltag.org" value="LC/de">Germany</location>, <location idsrc="xmltag.org" value="LC/au">Australia</location>, <location idsrc="xmltag.org" value="LC/se">Sweden</location>, <location idsrc="xmltag.org" value="LC/fi">Finland</location>, and <location idsrc="xmltag.org" value="LC/sg">Singapore</location>; <org>DOD</org>, DOT, GAO, and the EU are among others. HSRC serves over 650 private sector clients, including all major defense and security contractors and many Fortune 500 companies. 70% of our reports are acquired by repeat customers</p> <p> Read the full story at <a href="http://www.prweb.com/releases/2014/12/prweb12361092.htm">http://www.prweb.com/releases/2014/12/prweb12361092.htm</a></p> <table border="0" cellpadding="0" cellspacing="0"> <tbody> <tr> <td align="right"> Copyright: </td> <td> (c) 2014 PRWEB.COM Newswire</td> </tr> <tr> <td align="right"> Source: </td> <td> PR Web</td> </tr> <tr> <td align="right"> Wordcount: </td> <td> 1592</td> </tr> </tbody> </table> <!-- start_body --> <p> </p>
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