Payment Security
A central bank will issue a consumer-ready digital currency within five years - IBM research
Policy-makers at a number of central banks around the world are seriously considering developing and issuing a central bank digital currency (CBDC), with a consumer-ready CBDC likely to arrive in the next five years.
Globalisation of payments highlights need for new standards of governance
2020 will see a development in the standards governing the flow of money to match the increased globalisation of payment processing, according to Deloitte.
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.
NCSC Operation Haulster flagged fraud on more than one million stolen credit cards
The National Cyber Security Centre (NCSC) has defended the UK against more than 600 cyber attacks in the past year – bringing the total number to almost 1,800, new figures show today.
The figures are contained in the NCSC’s third Annual Review, which also sets out the various ways the organisation has been protecting the public. This includes a pioneering operation to stop hundreds of thousands of people losing money to credit card fraud.
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.
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.
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.
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.
