Compliance

India’s soaring digital payments market has prompted Mastercard and Visa to increase their investments in India, targeting one of the world’s largest cash displacement opportunities while complying with local regulations such as expensive data store requirements.

Visa, Mastercard and PayPal may have magnified the biggest risk they face — tougher regulation — by becoming early backers for Libra, Facebook's new digital money.

Security companies report a recent spike in spearphishing campaigns originating in Iran and targeting banks.

For many banks, especially midtier institutions, payments isn’t a core business — and their batch processing-based legacy systems weren’t designed to deliver real-time payments.

As many as 20% of institutions haven't started planning for the new standard, according to one study. Many say CUs must start now in order to be ready, even if the rule is postponed.

As lawmakers meet this week to discuss artificial intelligence, they should work with regulators to create universal and workable definitions.

A court decision brings much needed clarity to the complex world of money transmitter licensing by holding that the transmission of information alone is not engaging in the business of money transmission under Pennsylvania law, writes Anita Boomstein, a partner with Manatt, Phelps & Phillips, LLP.

A recent proposal by the Financial Stability Oversight Council to focus less on certain nonbank firms and more on risk activities would create unintended economic harm.

In the eyes of regulators, Facebook and bitcoin have a lot in common. Both challenge citizens' relationship to privacy, and both use technology in ways that current laws were unprepared for.

Visa has agreed to acquire token services and digital ticketing technology from Rambus Inc. in a move the card brand says will expand its tokenization security beyond Visa cards into other networks.