Analytics

Any EMV detractors saying the two-decade-old security against counterfeit cards has long passed its time are likely not aware of what the future has in store for the chip-based technology.

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.