Data security

The Minneapolis-based bank has been using mobile and digital watermark technology internally at board meetings to add multimedia elements to what would otherwise be static reports. It is now extending that technology to shopping and payments.

A week ago Sunday at about 10:00 a.m., Jim Wells was on his way from church to a grandson's birthday party, when he popped into Target to pick up a gift. By the time he returned home from the party at about 3:30, there was a voicemail message on his machine from Citibank's fraud control department asking him to call because they thought there might have been fraud on his account.

JPMorgan Chase & Co. increased spending and withdrawal limits it imposed on 2 million customers who used debit cards at Target Corp. during the retailer's data breach.

Decoupled debit cards, which draw funds from an account at a separate issuer, are typically framed as a low-cost alternative to bank cards. But in the wake of the massive Target Corp. data breach, security may have suddenly become the product's biggest selling point.

Senator Patrick Leahy pledged to pursue cybersecurity legislation in the wake of a massive data breach at retail giant Target.

JPMorgan Chase and other banks are restricting debit card use by consumers potentially exposed to the retailer's recent data breach, according to reports.

The Armory Bitcoin Wallet, a security and payments application, has changed its technology to require less computer memory – but it's still a product for power users

For banks, the most obvious reaction to the recent compromise of 40 million cards at Target stores would be to re-issue credit and debit cards to all customers who shopped at the retailer. But this approach doesn't seem to be universal.

Target Corp. was sued by a Christmas shopper claiming she may have been exposed to identity theft from a data breach affecting 40 million debit and credit cards.

If Target can't protect itself from a data breach, how can any retailer hope to do so?

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.

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.

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.

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.