Analytics

Target has confirmed the compromise of the credit and debit card data of 40 million Target shoppers and says the problem has been identified and resolved. However, thieves are selling the card account information as fast as they can on underground sites, according to security blogger and expert Brian Krebs.

Ellen Richey has become the new chief legal officer at Visa, where she will be responsible for legal functions as well as oversight of the card network's compliance and audit teams.

Retailer Target Corp. is investigating a massive data breach that may have affected the card data of millions of bank customers, according to security blogger Brian Krebs. The breach of credit and debit card records is said to have begun on or around Black Friday 2013, the day after Thanksgiving.

Data through November, released Tuesday by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, showed stability in national default rates.

As payment companies add more mobile applications to accept transactions and speed processing, authentication will become more complex, says Todd Wilkinson, CEO of Datacard, which plans to bolster its identity technology for government and financial services clients via its acquisition of Entrust.

Discover Financial Services has begun testing a mobile payment system using biometric technology at its Riverwoods, Ill., headquarters.

Discover Financial Services has joined the Fast Identity Online Alliance, or FIDO, a group of companies working to develop new standards for online authentication.

Online bill pay technology developed with small business users in mind is lacking. But new offerings could provide companies with greater functionality, while also helping financial institutions reduce risk and build stronger customer relationships.

Card identity and personalization company Datacard has agreed to acquire Entrust, a company that sells digital identity technology.

The docket at the U.S. Second Circuit Court of Appeals quickly attracted appeals to Judge John Gleeson's Dec. 13 ruling to approve the class-action swipe-fee settlement on an antitrust case that has lingered in his court for nearly nine years.

Mobile commerce provider Spindle and mobile payment company iPayMobil have partnered to enable merchants to offer credit.

Lemon Inc. has made several significant updates within its mobile wallet this year, moving the storage app to an actual payments-facilitating product. But to scale, Lemon needed a partner with brand recognition, which it found in LifeLock Inc.

A federal judge approved the multi-billion dollar settlement of a lawsuit over credit card swipe fees, resolving an eight-year long battle between banks and retailers.

LifeLock Inc., an identity theft protection provider, has purchased Lemon Inc. and its mobile wallet to absorb Lemon's features into its new LifeLock Wallet app.

A new company has formed to tackle the pressing issue of routing EMV debit transactions in compliance with federal mandates, a task the payments industry has undertaken for nearly two years.

MasterCard Inc. said its board of directors approved an 83 percent dividend increase and a 10-for-1 stock split.

Payments servicing provider Nortridge is integrating with PayNearMe's electronic cash transaction network to enable borrowers to make payments at 7-Eleven and ACE Cash Express stores, thus reducing the risk lenders would face in in accepting cash payments at their own locations.

Mobile wallet providers such as PayPal, Google and LevelUp already allow consumers to add funds by scanning a credit or debit card with a smartphone's camera. Banks can use similar technology to allow customers to open and fund new accounts from a mobile phone.

DB Networks has joined the Payment Card Industry (PCI) Security Standards Council.

The FTC's goal of compensating victims of merchant fraud is laudable. But effectuating that goal through a "crackdown" on processors and ISOs, which effectively makes them insurers of merchant fraud, seems misguided.