Compliance

More independent sales organizations are using fees to force merchants to take Payment Card Industry security standard compliance seriously.

With a population of 1.35 billion people, more than half of whom already use mobile services, the People's Republic of China represents the largest and perhaps the most attractive, if somewhat challenging, market for mobile commerce on Earth.

ACI Worldwide completed its $109 million acquisition of electronic billing technology developer Official Payments Holdings.

Verizon Communication Inc. will operate as an approved Qualified Security Assessor for certifying client's payment networks for the Payment Card Industry data security standards.

ATLANTA—The Affordable Care Act has sent a number of small credit unions scrambling to find affordable employee healthcare coverage.

WASHINGTON—While industry observers brace to see whether the cost of international wire transfers will skyrocket after the new Consumer Financial Protection rule went in effect on Oct. 28, early indications from credit unions are that prices will rise and some may exit the market entirely because of the increased compliance burden.

As the U.S. adoption of EMV-chip cards encounters legal roadblocks and merchant opposition, critics have questioned whether the card networks' October 2015 deadline is overly aggressive.

MasterCard, echoing remarks made 16 hours earlier by Visa, is placing security at the heart of its emerging payments strategy.

Retailers that have long criticized the card networks' plan for them to accept EMV-chip cards are starting to view the smart-card migration as a reason to adopt mobile payments.

Visa, which reports its fraud rate is at a historic low of 6 cents for every hundred dollars processed, is positioning itself as a safe haven for payments services.