Compliance

Merchants that sell digital goods each spend an average of $10.1 million a year on fraud-related costs — and many expect fraud and chargeback costs to rise in the coming months in the wake of the EMV chip card migration at the point of sale.

As if there were not enough unanswered questions about efforts to pass regulatory relief legislation, the sudden turmoil in the Republican House leadership this week adds another fresh layer of uncertainty.

Outside experts have been left wondering what kinds of controls firms that offer daily fantasy sports contests are putting in place to prevent them from becoming money laundering hubs — and how careful banks should be when doing business with them.

Adoption of mobile payments has been slow, and it's not clear why. Some have suggested the problem is a lack of understanding among consumers. Others have questioned whether mobile payments really address a consumer pain point.

Democratic candidate Hillary Clinton's financial reform plan is far less ambitious than other Democrats' proposals but would still be a tough sell in a Republican-controlled Congress.

Samsung may have a hard time convincing users of Samsung Pay that a breach of its LoopPay technology by Chinese hackers has nothing to do with payment card data or the security of the mobile wallet.

CPI Card Group Inc., which makes payment cards for lenders including Bank of America Corp. and American Express Co., cut the size of its initial public offering for a second time to $150 million and pared its share price amid choppy equity markets.

The House voted 303 to 121 on Wednesday to pass a bill that would delay enforcement of new mortgage disclosures that went into effect on Oct. 3.

Credit card networks and issuers have done a poor job in explaining the implications of the just-passed Oct. 1 deadline for moving to EMV chip-and-PIN cards, leaving many small businesses confused, lawmakers said Wednesday during a hearing on Capitol Hill.

Europe has been a clear leader in the adoption of EMV. One notable migration took place in the United Kingdom. The U.K. began the process of promoting EMV in 2002 and completed the full roll out in 2006.