Compliance

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.

WorldPay has received American Express' EMV payment processing certification, which means the processor is compliant with Amex's requirements for handling chip-card payments.

Western Union Co., the world's biggest money-transfer business, tumbled as much as 13 percent after reporting a drop in third-quarter profit and plans to increase expenses tied to regulatory compliance.

PayPal, having long ago charted the state-by-state regulatory waters for U.S. payments companies, is urging a reform to the rules in an effort that could ultimately help other players in its market.

ALEXANDRIA, Va.—A year after the wind-down of U.S. Central FCU-the industry's ultimate source of liquidity-the NCUA Board voted Thursday to require all credit unions over $250 million to contract for a federally backed source of emergency liquidity, either the Central Liquidity Facility or the Federal Reserve's Discount Window.

Payfone Inc., a provider of mobile- phone security, is raising $10 million from Early Warning Services LLC, a provider of fraud-detection tools for banks and financial-services companies.

Optimal Payments Plc, which is based in Isle of Man, has registered with the New Jersey Division of Gaming Enforcement to provide services to Internet gambling businesses licensed by New Jersey.

TAS Group has upgraded its card management software to allow banks to quickly design new EMV chip-based payment products and develop related programs.