Compliance

The spread of Bitcoins is now prompting regulators in Scandinavia to draft new rules in an effort to prevent virtual money from slipping into a legal gray zone.

WASHINGTON -- NCUA is collaborating with the federal bank regulators in a 10-year review of rules, the Government Accountability Office said in report.

MasterCard is tightening the screws around the use of prepaid cards as a way to pay employees. Some issuers will find its demands are straightforward and achievable; others may consider discontinuing the product.

As payment companies add more mobile applications to accept transactions and speed processing, authentication will become more complex, says Todd Wilkinson, CEO of Datacard, which plans to bolster its identity technology for government and financial services clients via its acquisition of Entrust.

Discover Financial Services has begun testing a mobile payment system using biometric technology at its Riverwoods, Ill., headquarters.

Discover Financial Services has joined the Fast Identity Online Alliance, or FIDO, a group of companies working to develop new standards for online authentication.

Online bill pay technology developed with small business users in mind is lacking. But new offerings could provide companies with greater functionality, while also helping financial institutions reduce risk and build stronger customer relationships.

Chinese central bank officials told third-party payment service providers to stop offering clearing services to online Bitcoin exchanges, according to China Business News, which is affiliated with the Shanghai government.

Card identity and personalization company Datacard has agreed to acquire Entrust, a company that sells digital identity technology.

The docket at the U.S. Second Circuit Court of Appeals quickly attracted appeals to Judge John Gleeson's Dec. 13 ruling to approve the class-action swipe-fee settlement on an antitrust case that has lingered in his court for nearly nine years.