Last month, the New York Times revealed that a group of hackers infiltrated more than 100 banks and e-payment systems worldwide. The attack is particularly disturbing because the attackers were able to avoid detection, even while ATMs were randomly dispensing cash, for two years.
While it’s important for merchants to comply with PCI standards, a comprehensive data security strategy requires more than PCI compliance. Merchants must move beyond a “moment in time” assessment and make security a daily consideration.
The celebration of Paybefore Awards winners continues.
The U.S. Treasury’s Direct Express prepaid benefit card program earned a 95 percent satisfaction rating from cardholders in 2014, marking the sixth consecutive year of near 100 percent customer satisfaction.
The Center for Financial Services Innovation (CFSI) has released a new report outlining ways big data can help financial services providers better serve their customers.
Following last week’s IPO announcement, Etsy Inc., a Paybefore Award-winning online and offline marketplace for buying and selling homemade items and artisanal products, has received a patent on its method for video-streaming interactive shopping events.
Best in Category: Walmart Closed Loop Gift Card from Walmart and First Data.
Best-in Category: Balance Financial Prepaid MasterCard from Walgreens, MasterCard Worldwide and Galileo
Best-in-Category: OceanPay Visa Prepaid Card from Brightwell Payments and The Bancorp
Best-in-Category: Global Cash Card for Popeyes from Global Cash Card and MasterCard Worldwide
Best-in-Category: Delta Air Lines Performance Pays Debit Card from Xerox, MasterCard Worldwide and Comerica Bank
The Supreme Court is backing the authority of regulators to reinterpret their own rules without seeking industry input.
The CFPB is considering next steps in weighing new regulations for arbitration agreements widely used in financial services businesses to settle consumer disputes, following today’s release of the 728-page “Arbitration Study: Report to Congress 2015.”
The long road to interchange reform in the European Union has come to an end of sorts with passage of interchange caps today in the European Parliament.
The Wall Street Journal reported last week that fraudsters were exploiting stolen credit card data to set up fake Apple Pay accounts and buying big-ticket items in Apple’s own stores and other retail outlets.
JPMorgan Chase isn’t putting all of its mobile payments eggs (or apples) in one basket.
International money transfer company Transfast has announced partnerships with three of Kenya’s largest banks to speed up its services for sending and receiving funds across borders.
EBA Clearing, a provider of European payment infrastructure solutions, is laying the groundwork for a Europe-wide instant payments processing service.
Ever since the deployment of Apple’s NFC solution – ‘Apple Pay’, and the various competitors launches since, there’s been speculation around what the future holds for consumer payments and how security will impact it
SIA, in partnership with Colt, has been awarded the contract to connect Hungarian central securities depository Keler to T2S, the new single European platform for the settlement of transactions in domestic and cross-border securities.
The Citi Mobile Challenge, which seeks to unearth innovation and developer talent in some of the most far flung reaches of globe in a bid to get the best talent to help change the way the world banks, has extended its registration deadline to allow more people to take part.
Explosive developments in mobile commerce and payments will drive a level of disruption in the next three to five years unlike anything the financial services industry has seen before, Dan Schulman, incoming CEO of PayPal, forecast this week.
Blackhawk Network Inc. is bolstering its mobile wallet app, adding a feature that will enable users to sell and exchange gift cards as well as the ability to scan physical gift cards to add them to the wallet.
Google wasted no time shutting down Softcard after acquiring technology and intellectual property from the telco-backed mobile wallet last week.
With plenty of room to further penetrate the market—40 percent of respondents had not used a prepaid card—survey results around willingness (or not) to recommend prepaid to a friend, suggest the industry may be suffering from a lingering image problem.
Brett King is joining digital financial services investment and advisory firm Anthemis Group as a venture partner.
The EMV Migration Forum, a cross-industry body focused on supporting the migration to EMV payments standards in the U.S., has announced its 2015-2016 steering committee officers. The committee will be chaired by John Drechny, senior director of payment services, Walmart. Patty Walters, senior vice president of corporate EMV strategy for Vantiv Inc., will serve as […]
The board of directors of the Federal Reserve Bank of Philadelphia has announced that Patrick Harker will assume the role of president and CEO, effective July 1, 2015.
GlobalPlatform, a nonprofit organization that standardizes managing applications on secure chip technology, has added New Doone Science & Technology as an observer member.
Online gift card marketplace Raise has announced that Don Kingsborough has joined the company’s board of directors.
Payment services provider and processor Sage Payment Solutions has appointed Paul Bridgewater as CEO and Jim Emerick as executive vice president of customer support.
Prepaid program manager UniRush LLC has promoted Douglas McGann to the role of president.
Rob Lehman has joined law firm WilmerHale as co-chair of the firm’s legislative affairs and public policy group, a government relations practice that provides strategic legislative and regulatory advocacy and solutions.
Swift has added peer assessment to its Sanctions Testing service. An optional service it will allow financial institutions to compare the performance of their sanctions filters against those of other participating institutions.
Tungsten Bank can now provide banking services in Germany, France and Italy following approval from the UK’s Prudential Regulation Authority
New mobile payments and loyalty management technologies envisioned for public transportation and automobiles may spark some big changes in commuters’ daily routines, according to announcements from Visa and MasterCard this week at Mobile World Congress in Barcelona.
Ubiquity Global Services, which last fall announced the opening of a contact center in Lisbon, has recently signed deals with two major prepaid companies, Meta Payment Systems and Wave Crest.
ATM owner/operator Cardtronics Inc. is launching a new surcharge-free ATM membership program called ATMpass that enables consumers to purchase monthly, quarterly or annual memberships for surcharge-free ATM access in retail locations.
CFPB Director Richard Cordray today addresses the House Financial Services Committee for the bureau’s semi-annual report to Congress.
New York is considering a plan to hold top banking executives personally responsible for the quality and effectiveness of their firms’ AML efforts.
