Compliance

Called Mezu, the P2P platform has been live for about a week and uses a location-based code to execute payments, avoiding the need to even share usernames or other identifying information to move money.

Malware operators are joining forces, installing each others’ tools on compromised computers to target a wider range of victims, and possibly also sharing the work of harvesting funds using stolen account details.

During NAFCU’s annual conference, a panel of experts highlighted some of the legal and regulatory changes that may still be in store for credit unions.

From regulations such as GDPR and PSD2 to conversations at major conferences, financial services and payment companies are coming to grips with how vital it is to step up ID protection, according to Lina Andolf-Orup, global product marketing manager at Fingerprints.

U.K.-based fintech Revolut has entered the Russian payments market through a partnership with Russian payments firm Qiwi, and announced plans to apply for a U.S. banking license.

Exchanges aren’t very transparent about their methods, but that in fact most handle such internal transactions exactly how regular banks have worked for centuries.

The settlement resolves one of several regulatory issues that have dogged the German bank's U.S. operations.

The National Credit Union Administration is set to vote on revisions to its field-of-membership rule, even as it's entangled in a legal dispute with the American Bankers Association over the rule.

Visa, which was criticized for its vague explanation of a June 1 outage in Europe, was in the process of installing better technology, but the project was not complete at the time of the incident and won't be finished until the end of this year.

The Dixons Carphone hack shows again that merchants and payment companies need to do more to make data unattractive to thieves, according to Robert Capps, vice president of NuData Security, a Mastercard Company.