Technology

Visa announces new secure payments offerings for internet devices

Visa announced last week a new suite of offerings aimed at securing payments across a number of internet-connected devices and wearables. Visa Digital Solutions offerings will fall into two categories: support for new methods of payment and technology to protect consumers and facilitate innovation, according to a Visa press release. “Visa... Read More...

NCSA to host event for businesses, consumers on securing online activities

The National Cyber Security Alliance (NCSA) will host an event next month to educate businesses and consumers on enhancing the security of their everyday online activities. The event, which will begin at 9 a.m. on Aug. 5 at the Wilma Rudolph Event Center at Liberty Park in Clarksville, Tenn., will include participation from Rep. Marsha... Read More...

Goodwill investigates potential breach involving customers’ credit info

Goodwill announced on Monday that it is currently investigating a potential data breach involving consumers’ credit card information after a payment card industry fraud investigative unit and federal authorities alerted the organization to potential theft. “Goodwills across North America take the data of consumers seriously and their... Read More...

MasterCard launches MasterPass technology in Poland

MasterCard extended its global reach even further last week with the introduction of its MasterPass digital wallet technology in Poland. uPaid will be among the first to use the MasterPass platform to power its uPaid wallet. uPaid will switch its current MasterCard Mobile users to the wallet, according to a Mastercard press release. “In... Read More...

NAC issues guidance on EMV migration for ATM operators

The National ATM Council (NAC) issued guidance last week for the U.S. ATM industry on EMV migration, urging operators to ensure that new machines purchased have EMV hardware and software functionality. “EMV is one of the most crucial issues facing the US Independent ATM industry today, and NAC felt a real need to help provide clarification... Read More...

Senate Intelligence Committee approves Cyber Information Sharing Act

The Senate Intelligence Committee voted 12-3 last week to advance the bipartisan Cyber Information Sharing Act (CISA), which is intended to help the government and private sector prevent security breaches and cybercrime. The bill—introduced by Sens. Dianne Feinstein (D-Calif.) and Saxby Chambliss (R-Ga.)—expands information shared about... Read More...

MasterPass digital payments technology goes live in South Africa

MasterCard announced on Tuesday the launch of its MasterPass service in South Africa, which will be the 10th country to gain access to the company’s digital wallet technology. Standard Bank will be the first local bank to offer a digital wallet powered by MasterPass—the app will be available for download for Apple, Android and Blackberry... Read More...

SmallBizDev Hackathon to be held in Chicago later this week

The SmallBizDev Chicago Hackathon, which encourages developers, designers entrepreneurs and others to create mobile solutions to solve financial challenges faced by small businesses, will be held later this week at 1871 in the Merchandise Mart Plaza. The event—sponsored by the D2D Fund and the Center for Financial Services Innovation—will... Read More...

Allied Wallet recognized by Acquisition International for payments

Online payment processor and merchant services provider Allied Wallet was recently named the “Customized Payment Solutions Provider of the Year” in the U.S. by Acquisition International for its small-business online payment solution. Acquisition identifies and recognizes success, innovation and ethics in awarding the title, which is one of... Read More...

BofA Merrill Lynch offers cross-currency payments through online portal

Bank of America Merrill Lynch recently announced that corporate and government clients now have access to low-value, cross-currency payments through the company’s CashPro Online banking portal. “We’re pleased to add this new capability to CashPro Payments and extend the available options that clients have to initiate their cross-border... Read More...

Creditcall CTO offers tips to simplify migration to EMV

Jeremy Gumbley, the chief technology officer at payment service provider Creditcall, recently offered tips to participants in the payment industry to help ease the transition to EMV ahead of the October 2015 liability shift. Gumbley said one of the first steps in migrating to EMV involves the selection of a PIN pad. In order to choose the... Read More...

Retailers overly confident in ability to detect data breaches

A new survey from Tripwire showed that while data breaches largely go undiscovered for a long period of time, retail firms are overly confident in their ability to detect breaches. The survey, which evaluated the attitudes of 154 retailers across a number of cybersecurity topics, found that 42 percent of retailers expected to detect a data... Read More...

FFIEC launches cybersecurity webpage, announces pilot program

The Federal Financial Institutions Examination Council launched its cybersecurity webpage on Tuesday to promote awareness of its cybersecurity activities. The FFIEC page provides links to webinars, statements and other resources that may assist financial institutions as they examine and revamp their cybersecurity programs. In addition to the... Read More...

Debit use increases despite growing threat of data breaches

A recent study commissioned by the PULSE EFT Network showed that despite recent and well-publicized data breaches at major retailers, the performance of debit card programs improved in 2013. According to the study, consumers have increasingly turned to electronic payments—the number of transactions per card increased to 20 from approximately... Read More...

Medvedev: Russia must cooperate with U.S. card processors

Russian Prime Minister Dmitry Medvedev said earlier this week the Russian government must cooperate with card companies Visa and MasterCard in building the country’s national payment system. "To do this, we have taken a number of steps, including changes in the law on the national payment system... which caused heated discussion,”... Read More...

Malware migrates from Russia to threaten U.S. mobile banking users

Russian IT security company Kaspersky Lab recently discovered malware that has migrated from Russia to the U.S., presenting a threat to mobile device users. According to Kaspersky, Svpeng—a type of malware that targets mobile devices—was detected a year ago. The first releases of the malware sought to steal payment card information from... Read More...

JetPay Payment Services receives Data Integrity Compliance award

JetPay Payment Services was recently awarded the 2013 Data Integrity Compliance award, which recognizes processors with the highest compliance percentage, by MasterCard International. “JetPay Payment Services has a 15-year record of delivering superior quality service to our business partners,” Trent Voigt, the founder and CEO of JetPay’s... Read More...

Oink to be integrated into Woozworld social network for teens

Virtual Piggy, the provider of family/teen wallet solution Oink, announced an agreement last week that will bring payments to the popular social network Woozworld for teens. Woozworld has more than 25 million registered users; it allows users to gather to socialize and play games with friends. “We’re thrilled to add the Oink technology... Read More...

MasterCard’s MasterPass goes live in Singapore

MasterCard announced on Monday the introduction of its MasterPass digital wallet in Singapore, which will allow the country’s consumers to store payment card information, address books and shipping information for future purchases. “Singapore is already an evolved market for digital payments, and we continue to see great potential for... Read More...

Virtual Piggy partners with Global Collect

Virtual Piggy, the provider of the Oink digital piggy bank for families and teens, announced on Thursday a partnership with international payment service provider GlobalCollect. "GlobalCollect has built an extensive network of industry partners, and we're thrilled to work with them to expand international processing acceptance and... Read More...

National Security Alliance to hold first members meeting on biometrics

The Natural Security Alliance, a group launched and financed by retailers, banks and point-of-sale manufacturers in 2008 to promote biometric payments authentication standards, will hold its first members meeting next week to discuss the development of a biometric standard. The meeting will be held on June 5 in Paris. Registration begins at 9... Read More...

MasterCard extends identity theft assistance to all U.S. cards

MasterCard announced on Tuesday the addition of identity theft assistance for all of its credit, debit, prepaid and small business cards issued in the U.S. as part of an effort to combat fraud. “Fraud prevention and detection is a 24/7 job at MasterCard,” MasterCard North America President Chris McWilton said. “The changes that... Read More...

iPayment, VeriFone partner to offer tablet POS solution for merchants

California-based iPayment, which provides credit and debit payment processing services to more than 150,000 merchants in the U.S., and VeriFone announced on Monday a new tablet, app-based point-of-sale solution for merchants. “VeriFone is impressed with the innovative technology and tools iPayment provides to small and medium sized merchants;... Read More...

Chase ties for top spot in mobile banking functionality among U.S. banks

Chase was ranked the top bank in the U.S. for mobile banking functionality in a report released on Monday by Forrester Research. Chase earned 69 out of 100 points and tied with another bank for the top spot overall, marking the third consecutive year the bank has earned the position in Forrester’s report. The research and advisory firm... Read More...

Intuit to acquire Check for $360 million

TurboTax developer Intuit announced on Monday that it plans to purchase California-based mobile bill pay provider Check in a $360 million acquisition intended to expand and build the company's presence in the mobile market. According to a report from Aite Group released in September, American consumers spent an estimated $3.8 trillion paying... Read More...

Mobile wallet functionality to double by 2018

New data from U.K.-based Juniper Research released last week showed that mobile wallet functionality will double over the next four years, with one in five phones expected to have mobile wallet capabilities by 2018. According to the data, growth will be driven by two distinct models—stored value accounts, which are similar to prepaid cards... Read More...

MasterCard, Bank of Punjab launch program to push financial inclusion

MasterCard and Pakistan’s Bank of Punjab announced on Tuesday the launch of a Social Security program aimed at streamlining government disbursement, subsidy and assistance programs as part of an effort to encourage financial inclusion in the country. Under the terms of the agreement, the Bank of Punjab will issue payment cards to millions of... Read More...

Retail trade group launches cyber intelligence sharing organization

The Retail Industry Leaders Association (RILA), along with several of America’s largest retailers, recently launched the Retail Cyber Intelligence Sharing Center (R-CISC)—an independent organization that seeks to improve cyber threat information-sharing. Launched with support from retailers like American Eagle, Gap, Lowe’s, Target and... Read More...

ETA warns against overly broad federal data breach notification standard

The Electronic Transactions Association told lawmakers on Thursday that while the organization supports a federal data breach notification standard, nationwide notification should be limited to breaches that pose a substantial risk to consumers. In a letter dated May 22, the ETA pointed to different data breach notification laws across 47... Read More...

Logic PD engineers develop solution to prevent mobile payments fraud

A team of engineers and designers from Logic PD recently unveiled a solution aimed at reducing the incidence of identity fraud in mobile payments. The platform unveiled by the team at the Logic PD ACME-thon late last month uses NFC authentication and camera imaging to protect consumers. The team’s members included designers and engineers... Read More...

CFSI, D2D to host mobile app development events to aid small businesses

The Center for Financial Services Innovation (CFSI) and Doorways to Dreams Fund (D2D) announced on Thursday a new initiative—SmallBizDev Hackathons—aimed at encouraging the development of mobile apps that will help small business owners meet financial challenges. The initiative, sponsored by Capital One, is a series of two-day events that... Read More...

AECU first in Missouri to launch NCR-branded ITM virtual teller

American Eagle Credit Union (AECU) recently became the first credit union in Missouri to deploy a remote, interactive video ATM machine produced by transaction technology provider NCR to provide personalized teller services to members. NCR-branded ATMs are now available at AECU, a division of the Anheuser-Busch Employees’ Credit Union,... Read More...

« Previous Stories