Opinions

As retailers, banks and technology companies continue to suffer data breaches, issuers and merchants need to take extra care when selecting payment vendors.

To act like a startup — as many banks say they want to do — institutions must employ a nontechnical strategy: build services based on customers say they want.

In response to a series of cyber bank thefts, Swift has developed new guidance. It's a necessary first step, though banks for now are still left to fend for themselves.

Banks should embrace artificial intelligence so that they can more easily navigate policy shifts that will affect their compliance resources and processes.

Both major brands are accelerating a move away from traditional checkout, and all retailers need to make adjustments for the future.

Merchants should check operating systems, since the PC-based operating systems which run most legacy point of sale software have security flaws and are targets for malware.

Crooks are getting more clever when hacking e-commerce sites to hide illegal activity, requiring banks and processors to developer a broader picture of merchants and payment activity.

As regulators open the door to fintech firms applying for bank charters, what has already been a long journey to this point is only going to get more intense.

Both major brands are accelerating a move away from traditional checkout, and all retailers need to make adjustments for the future.

U.S. banks are smart to take their time in embracing a model that cedes space to nonbank competitors and could put consumers more at risk for identity theft.