Investment

The major card networks operate from a position of strength as among the first movers in providing tokenization, but they must move with the market if they want to hold that position.

The central bank originally established a 10-year time horizon for completing upgrades to the nation's aging electronic payment system. But a task force convened by the Fed thinks that's not ambitious enough.

Though the EMV transition is a significant step in the effort towards making payments more secure, this EMV liability shift won’t solve mass data breaches on merchants.

Hackers did not steal banking or payments data from Experian, but they might as well have. Breaches like the one sustained at the company call into question the entire system of identification that banks rely on to open accounts and conduct other everyday business.

Compared with other recent breaches, the theft of 6,400 user email addresses and passwords on the American Bankers Association's website might seem like small potatoes. But experts said the attack — the first in the association's history — was still significant and could have implications for banks.

A server containing sensitive consumer information at Experian has been breached, with the records of as many as 15 million T-Mobile customers stolen, the companies said Oct. 1.

A server containing sensitive consumer information at Experian has been breached, with the records of as many as 15 million T-Mobile customers stolen, the companies said Thursday.

The Trump Hotel Collection has disclosed a data breach that may have compromised customers’ debit and credit card data for more than a year. The breach was caused by malware lurking in the hotel’s payment system.

Like campaign managers at the end of a long election trail, top payments executives spent the final hours leading up to and shortly after the official EMV liability shift launch supporting the efforts of the past four years and providing the latest details on chip-card migration.

In updating cards with EMV technology, Visa and MasterCard have neglected an important element of what makes the security standard so successful elsewhere. The need for PIN verification is clear.