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).
-
Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
10m ago -
Swiss banking giant UBS Group AG received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
25m ago -
Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
46m ago -
Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
1h ago -
CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
1h ago -
Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
2h ago











