Compliance

Opening the door for banks to offer non-branded PIN debit cards and even mobile wallets, the Debit Network Alliance is developing its own application identifier for routing transactions from EMV-chip cards.

The celebration that accompanied China's loosening card regulations is premature. It's wishful thinking that Visa and MasterCard easily be able to capture a percentage of the humongous China market.

Senate Banking Committee Chairman Richard Shelby announced Friday he was pushing back a planned vote on regulatory relief until May 21, a week after it was initially scheduled.

Visa Inc., the world's largest payments network, is in preliminary talks to buy former subsidiary Visa Europe Ltd. in a deal that may be valued at as much as $20 billion, people with knowledge of the matter said.

WASHINGTON — All 10 Democrats on the Senate Banking Committee sent a joint letter Friday that said they plan to oppose a regulatory relief bill scheduled for a panel vote next week since Republicans have not yet provided legislative language to all members.

While startups across the globe focus on building new payments technology, countries may fare better by recycling their old technology when building a national infrastructure for faster payments.

The good news is that EMV is very effective at preventing the use of counterfeit credit/debit cards at the point of sale (POS), commonly referred to as card-present (CP) fraud.

Payments technology tester and certifier Fime will serve a one-year term to represent the technical associates program on the EMVCo board of advisors.

A statement by a foreign regulator that it might penalize banks that drop businesses due to heightened supervisory risk has spooked U.S. institutions who worry domestic agencies could follow suit.

The regulators have spelled it out: If a bank wants relief from onerous compliance requirements, a path to get there is to use simple, basic practices for credit risk management.