Payment Security
EBA sets new EU-wide deadline for payment security rules
The European Banking Authority has pushed back the deadline for the migration to Strong Customer Authentication (SCA) standards to 31 December 2020, giving national authorities a 15-month extension to implement the new rules.
MasterCard introduces Threat Scan to help banks assess fraud exposure
Mastercard has launched a a service, called Threat Scan, to help banks proactively identify potential vulnerabilities in their authorisation systems.
Banks prevented $25 billion in fraud using Visa AI
Visa Inc. (NYSE: V) today announced new analysis showing Visa Advanced Authorization (VAA) using artificial intelligence (AI) helped financial institutions prevent an estimated $25 billion in annual fraud—making the global payment ecosystem safer for retailers and consumers.
Equifax buys PayNet
Equifax Inc., (NYSE: EFX) a global data, analytics and technology company has acquired PayNet, a company that provides commercial credit risk underwriting and management solutions to online and alternative finance lenders, and commercial finance and leasing companies in the U.S. and Canadian markets.
Mastercard takes aim at $125 trillion B2B payments market
Advances in technology and actionable real-time data are driving businesses to operate faster and smarter. Yet, business payments are often rooted in legacy practices established decades ago. Until now.
EMVCo publishes SRC spec and payment icon
EMVCo has released EMV Secure Remote Commerce (SRC) Specification v1.0, which is available for free public download from the EMVCo website.
EMVCo to develop standards for consumer device verification
The deployment of Consumer Device Cardholder Verification Method (CDCVM) solutions across the payments ecosystem is increasing.
APAC concern over payment system attacks persists - FS-ISAC
According to the Financial Services Information Sharing and Analysis Center (FS-ISAC), attacks on payment systems are the greatest cause of concern for Asian banks.
Swift on the hunt for new IT talent
Interbank payment network Swift is positioning itself as a cutting edge IT shop as it seeks to recruit 150 talented IT professionals worldwide.
FIS to buy Worldpay for $35 billion
FIS is to buy Worldpay for $35 billion, in a blockbuster deal which exemplifies the trend towards large scale consolidation in the payments processing space.
Australia checks growth in payment fraud
The latest payment card fraud data has shown a decline in the rate of fraud for the first time since reporting of card fraud commenced in 2006.
Figures released today by the Australian Payments Network (AusPayNet), the payments industry self-regulatory body, show the rate of card fraud for the 12 months to 31 December was 72.8 cents per $1,000 of card spending, down from 75.0c per$1,000 in the previous period.
UK banks must collaborate with fintechs to transform payments industry
The UK payments industry is undergoing an unprecedented transformation, driven by the twin engines of growing adoption of technology and changing consumer expectations.
This has led to a race to launch innovative new payment products, services and business models to meet growing customer demand.
Singapore gives banks more time to implement e-payment protection rules
The Monetary Authority of Singapore (MAS) will give banks and credit card issuers more time to adopt the E-Payments User Protection Guidelines (“Guidelines”).
The Guidelines aim to set standards in the following areas:
