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Payment Security

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.

EMVCo has released EMV Secure Remote Commerce (SRC) Specification v1.0, which is available for free public download from the EMVCo website.

The deployment of Consumer Device Cardholder Verification Method (CDCVM) solutions across the payments ecosystem is increasing.

Customer card data from nearly all of Pakistan's major banks has been stolen in a cyberattack, says the country's Federal Investigation Agency (FIA).

Interbank payment network Swift is positioning itself as a cutting edge IT shop as it seeks to recruit 150 talented IT professionals worldwide.

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.

EverCompliant, the payments industry leader in online Anti-Money Laundering specializing in business cyber intelligence, announced today the launch of eKYC Discovery, a tool that addresses potential gaps in the Bank Secrecy Act and Anti-Money Laundering-mandated Know Your Customer (KYC) processes that could leave financial institutions exposed to criminal activity.

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.

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:

Commonwealth Bank of Australia has apologised for a data centre failure which locked customers out of internet and mobile banking and hit card payments for most of Monday.

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.

UK consumers' association Which? has hit out at much of the banking industry for failing to protect online customers with two-factor authentication (2FA).

1 in 4 European merchants in the retail, travel and hospitality, and digital goods sector (26 percent) has experienced data theft and the majority (61 percent) believe they are at greater risk of a data security breach today than they were a year ago, according to new benchmark data from the 2018 Global Payments Insight Survey: Merchants published by ACI Worldwide (NASDAQ: ACIW) and Ovum.

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