Merchants Cautioned on New POS Malware Threat (Aug. 4, 2014)
Federal officials are warning retailers about a new form of malware that hackers could use to access POS systems and steal consumer data.
Federal officials are warning retailers about a new form of malware that hackers could use to access POS systems and steal consumer data.
The CFPB has launched a program for low-to-moderate income consumers that includes counseling from national and local social services staff and a Website featuring financial education tools.
Square, the San Francisco-based mobile card reader provider, will be releasing a new card reader enabling merchants to use their mobile devices to accept payments from cards that are EMV-enabled.
U.S. merchant groups have banded together to call for open standards for tokenized payments, to be managed by an independent body.
The rising volume of market data is comparable to the Cambrian Explosion in which the number of species on Earth dramatically increased around 542 million years ago. Banks will have to adjust to this deluge of data if they are to keep pace with aggressive new competitors.
Starbucks has racked up nearly 12 million active monthly users for its mobile app, which processes 6 million transactions a week—and the company is looking to build upon that success, according to CEO Howard Schultz.
CardCash.com, a Brick, N.J.-based marketplace for secondary gift cards, today announced it has acquired the assets of gift card exchange Website Plastic Jungle.
Financial institutions can capitalize now on mobile payments opportunities until the market for mobile payments at the POS matures, according to a white paper by Fiserv Inc., a Brookfield, Wis.-based financial services technology provider.
Amazon is seeking to expand its operations in India, and the e-retail giant is putting $2 billion toward that goal.
Regulators in Europe and the US are struggling to get to grips with trades that appear to be travelling back in time. Led by the UK’s National Physical Laboratory, new efforts are underway to synchronise time, with the help of atomic clocks.
New intraday liquidity reporting tools set out by the Basel Committee on Banking Supervision could pose a serious challenge for banks, according to a new white paper by Swift.
First Data has announced it will acquire digital gift card provider Gyft Inc.
Facebook is shuttering its electronic gift card service after nearly two years, shifting its focus to more recent e-commerce initiatives.
Blackhawk Network and Amazon today announced they are providing consumers with ways to spend and better manage their gift cards (from dozens of major retailers and restaurants) using the Amazon Wallet app.
The London Metal Exchange is working with Colt to launch a new dedicated network interconnecting all its systems including the LME Clear clearing service.
Entries for the Banking Technology Awards 2014 have been open for a while now, but as we move into the last few weeks, this is always a time when we are flooded with questions about the process. By way of response, here are some guidelines based on my experience chairing the judging panel over the past 11 years.
The FDIC has clarified its previous guidance related to the DOJ’s Operation Choke Point, which encourages financial institutions to scrutinize payment processor clients that process payments for certain types of businesses.
Employees and former employees of 16 McDonald’s restaurants across Pennsylvania have filed a class action lawsuit against the restaurants’ owners for violating the law when they allegedly failed to provide a method of receiving wages other than on a payroll card.
Financial technology investment by major venture capital firms more than tripled between 2009 and 2013, a new study found.
Payments processor Stripe Inc. has ventured into the Asia-Pacific region by launching its services last week in Australia.
Trading rules in the US are giving dark pools an unfair advantage over exchanges and could be damaging liquidity, according to a new report by the Capital Markets Cooperative Research Centre.
Spanish start-up support organisation Finnovista is hosting a ‘hackathon’ in Barcelona next month which it says will bring together programmers, designers and business people to develop new software for retail banking, capital markets, payments and big data.
Government-funded prepaid cards continue to grow steadily, with agencies at the U.S. federal, state and local levels using prepaid to disburse benefit funds, tax refunds and other payments.
New restrictions on campus debit cards being considered by the U.S. Department of Education have the potential to be too far-reaching and severely limit students’ access to financial services, according to more than 40 U.S. lawmakers—senators and congressman, Democrats and Republicans.
Apple could finally be preparing to make its long-awaited debut in the mobile wallet sector.
PayPal is launching its Working Capital program in the U.K. this fall for select small to midsize business customers, offering cash advances against their future sales.
Mobile payments provider LoopPay has secured funding from global payments firm Visa as it pioneers a technology that capitalises on the installed base of magnetic stripe-reader point-of-sale systems rather than NFC, which is the current favourite in mobile payment circles.
The Australian Securities and Investments Commission has launched a consultation on proposed changes to the trade reporting rules for OTC derivatives, in a move that suggests Australia is learning the lessons of OTC reforms in other countries.
London Underground, DLR and Overground trains are to accept contactless payments, following an announcement from Transport for London. The decision comes as mobile operator EE sets out plans to support NFC payments on London Underground, the UK’s biggest building society begins issuing contactless cards to its customers, and Apple explores cooperation with Visa on a potential new mobile wallet.
Italian financial infrastructure company SIA has inked a deal with mobile commerce provider Swish Payments to support mobile payments in Africa and Europe. The two firms claim the deal will help to bring more efficient forms of payment to both regions.
Standard Chartered has launched a mobile wallet in the Philippines through a partnership with Globe Telecom, in a deal that will tap into demand for mobile money in one of the world’s strongest remittances markets.
The Network Branded Prepaid Card Association announced today that Doug Bower will join the association as executive director and president, effective August 5, 2014.
The Dodd-Frank Wall Street Reform and Consumer Protection Act, the legislation born from the economic crisis a half-decade ago, turned 4 years old this week. The shockwaves from the law, which has significant impact on the prepaid industry, likely will be felt for years to come.
Raphaels Bank and the U.K. Post Office have joined to launch a new prepaid MasterCard.
The UK’s high street banks are failing to satisfy consumers and may be in danger of falling behind the big supermarkets, leaving them vulnerable to competitors, according to a new report by VerintSystems and the Customer Contact Association.
Nordic financial services group Nordea has gone live in Frankfurt and London with a web-based trade finance solution, which it says will help to strengthen its international trade finance business.
U.K.-based mobile payment solution provider Omlis has appointed Matt Banham chief technology officer.
The American Lawyer has ranked Paul Hastings LLP atop its 2014 A-List of most successful U.S. law firms.
MasterCard has appointed Ram Chari CEO of ElectraCard Services, which it acquired earlier this year.
Net Element Inc., a mobile payments and transactional services provider, has appointed William Healy to the company’s board of directors, where he will serve on the board’s audit, compensation, nominating and corporate governance committees.