Analytics

The Federal Reserve has named Todd Aadland—who had been a senior vice president at the Federal Reserve Bank Of Chicago—as its new payments security strategy leader. Aadland will also chair the Secure Payments Task Force.

Loss prevention firm Global Risk Technologies and Quatrro Processing have entered a strategic partnership to take advantage of the growing demand for fraud technology following major data breaches.

Barclays has introduced a cloud-based contingency payment service for corporate clients.

Orchard Platform, which provides services to institutional investors in the marketplace lending industry, has raised $30 million in additional funding.

With the EMV liability shift less than a month away, U.S. merchants have far more on their plates than merchants in other countries had when only weeks from migrating to chip-based payment cards.

Private label and co-brand card provider Alliance Data Systems Corp. has released an EMV co-brand card that features tap-and-pay functionality.

Concerned about security, the Australian Parliament is recommending that all contactless transactions, which it defines as including Near Field Communication (NFC), default to opt out, meaning shoppers would have to proactively opt-in to use the technology.

Securing transactions by matching a user to his or her mobile device has existed for some time, but two major trends connected to payments will likely bring that technology to the forefront, according to InAuth CEO Lisa Stanton.

Short of a major data breach, it could be a financial technology executive's worst nightmare: a critical piece of software crashes, disrupting an important and highly visible activity like processing consumer payments or setting net asset values for mutual fund clients.

ShopKeep and MasterCard have entered a marketing partnership that includes pushing merchants to adopt the EMV standards.

The smartphone can add significant security to payments, but it is also a tool that fraudsters can exploit. Researchers and scammers have already found several unique attacks that rely on mobile devices.

The San Francisco company hopes to lower its costs by driving out human intervention as much as possible. To get there, it has made the counterintuitive decision to locate its operations staff in one of the country’s most expensive cities.

Three large U.K. banks have suffered recent payment glitches, including temporary outages at HSBC, Natwest and Royal Bank of Scotland—suggesting existing bank payment systems are challenged to process digital transactions.

Hoteliers, U.S. military brass and bankers are in very different lines of work, but they share at least one common concern—cybersecurity.

Even though consumers generally avoid liability if their payment card or account is breached, their troubles can go well beyond the initial financial hit for the bank or merchant, said long-time data security expert Brian Huntley.

Western Union has restored its outbound money transfer service from Greece, following its June suspension due to a temporary shutdown of Greek banks amid the escalation of the country’s debt crisis.

This fall, the United States will finally transition to EMV—but it’s too little too late.

Hackers can already take control of a car. And as vehicles become rolling shopping malls, cybercriminals will have an opportunity to snatch your identity, too.

Fidelity Investments is considering dropping American Express and Bank of America to find new partners and better terms for one of the top-rated cash-back credit cards in the U.S., according to people with knowledge of the matter.

When a federal appellate panel sided with the U.S. Federal Trade Commission (FTC) against the Wyndham hotel chain this week, it cemented the FTC as a power to be reckoned with for companies that have poor security.