Numbers

Mastercard plans to eliminate credit card numbers and switch to tokenization technology to reduce the risk of information leakage

ChainCatcher news, according to the Singapore United Morning Post, Mastercard is planning to eliminate traditional credit card numbers and adopt "authentication technology" (Tokenization) to combat online fraud. This technology replaces sensitive data such as credit card numbers with randomly generated numerical sequences (tokens) to reduce the risk of data breaches. Mastercard CEO Michael Miebach stated that the company will expand the use of this technology and replace traditional passwords with biometric identification (such as fingerprints or facial scans). This measure is in response to the increasingly serious problem of online payment fraud, which is expected to exceed $91 billion by 2028.Miebach pointed out that the conventional thinking in the past was to protect data and transactions with passwords to ensure security; however, this approach has gradually become a security vulnerability. But "authentication technology" replaces sensitive information with "tokens," making it impossible to decipher real information even if the data is illegally accessed by hackers. Furthermore, "authentication technology" also helps businesses comply with data protection regulations, such as the EU General Data Protection Regulation (GDPR) and the Payment Card Industry Data Security Standard (PCI DSS). Mastercard stated that by the end of this century, all e-commerce transactions in Europe are expected to be replaced by "tokens."

The EU investigates Telegram over user numbers

ChainCatcher news, according to the Financial Times in the UK, Brussels is investigating whether Telegram has violated EU digital regulations by failing to provide accurate user numbers, with officials pushing to place this controversial messaging app under stricter regulation.EU legal and data experts suspect that the app has underreported its user numbers in the EU to keep its users below the 45 million threshold, as large online platforms exceeding this threshold will be subject to a series of regulations from Brussels aimed at limiting their influence.The EU investigation coincides with a broad investigation by France into alleged criminal activities on Telegram, which led to the arrest of its founder, Russian-born billionaire Pavel Durov, on Saturday. A magistrate will decide on Wednesday night whether to file charges or release him.Telegram stated that Durov "has nothing to hide." Durov now holds citizenship in France and the UAE.In February, Telegram stated it had 41 million users in the EU. According to the EU's Digital Services Act (DSA), Telegram was supposed to provide updated figures this month, but it did not, only announcing that its "average monthly active user count in the EU is well below 45 million."Two EU officials stated that the failure to provide new data puts Telegram in violation of the DSA, adding that the EU investigation may find the actual numbers to be above the threshold set for "very large online platforms."Such designation brings greater compliance and content moderation, third-party audits, and obligations for mandatory data sharing with the European Commission.
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