Compliance

Becoming a licensed money transmitter throughout the U.S. is a time intensive and costly process many Bitcoin businesses are struggling with. But the costs of compliance could be cut substantially with the proactive step of hiring in-house compliance officers.

ALEXANDRIA, Va. — NCUA chairman Debbie Matz has informed CUNA and NAFCU that the comment period for the agency's risk-based capital proposal will not be extended, the trade associations report.

Preparing for a Payment Card Industry (PCI) compliance assessment is a major task for any size organization.

Digital currency exchanges may soon file formal proposals and applications to operate under regulations set by the New York State Department of Financial Services.

EMVCo, the EMV standard governing body has released specifications for payment tokenization, a process that it says will strengthen security on card-not-present transactions initiated by EMV-chip cards.

Mobile banking technology company Monitise is attempting to make account alerts two-way conversations, with an eye on marketing and security capabilities for payments applications.

Three months after coming to light, the massive exposure of 40 million card accounts at Target Corp. still has the payments industry and consumers talking about what should be done to prevent this happening again. In the United States, that is.

Chase Merchant Services has developed technology that could have helped its parent company, JPMorgan Chase, deal with the hefty task of reissuing 2 million cards in the wake of the massive Target data breach.

MasterCard and Visa have formed a new group to improve efforts in the U.S. to migrate to the EMV-chip cards other security methods.

The Electronic Transactions Association is lobbying Congress to enact a uniform national data breach reporting standard that would replace a welter of contradictory state and local rules.