Orbiscom said it expects recent broad security breaches involving credit card data to give a lift to its Controlled Payment Numbers technology aimed at securing online purchases. The product, known as ControlPay, enables credit and debit cardholders to generate a substitute number when making a 'card not present' purchase. The real card number is never revealed during the purchase and is never stored in the merchant's database. Orbiscom markets the product to several large card issuers under various brand names, including ShopSafe (MBNA); Discover Desktop (Discover); and Virtual Account Numbers (Citibank).
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3