Compliance

What advantages will this new system bring to the U.K. payments market? The U.K. has traditionally struggled to find ways to break the major banks’ monopoly on payments.

Rather than hooking into the browser process, BackSwap takes the place of the user and enters the same commands into the browser that a user would if they wanted to hack themselves.

To improve bank oversight, policymakers should eliminate overly complex rules in favor of principles-based regulation.

Merchants, banks, fintechs and card networks may crave digital payments' treasure trove of data over cash's simple anonymity, but any weakness in a centralized ecosystem threatens the entire network, as Visa learned late last week.

As more small to medium-sized businesses look to international e-commerce markets to boost sales, differences in tax laws can cause complications for sellers—and an opportunity for payment gateway companies offering workarounds.

There are forward-looking regulations that govern the landscape of how personal data gets collected, processed, analyzed, stored, retained, monetized, and accessed by any organization that collects data in the EU. Its goal is the protection of individual privacy and will require a multi-year strategy, according to Bassim Alkhafaji, a partner at Andra Capital.

Payment gateway provider Pelican Group has launched PelicanPay, a new unit of the company, to focus on providing European-wide Payment Services Directive connectivity, payments and financial crime compliance services.

Heartland Payment Systems LLC sued its former top executive, Robert Carr, claiming he used his girlfriend to trade on inside information.

Many of these attacks have been server side ransomware and other sophisticated hacks, leading companies to examine the immature security processes, the technology of application security, and the insufficient expertise of development, writes Jeannie Warner, the security manager at WhiteHat Security.

Belgian security researcher Xavier Mertens has discovered a piece of a banking malware campaign that appears to target customers of various U.K. banks.