Investment

Ellen Richey has become the new chief legal officer at Visa, where she will be responsible for legal functions as well as oversight of the card network's compliance and audit teams.

Retailer Target Corp. is investigating a massive data breach that may have affected the card data of millions of bank customers, according to security blogger Brian Krebs. The breach of credit and debit card records is said to have begun on or around Black Friday 2013, the day after Thanksgiving.

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.

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

Lemon Inc. has made several significant updates within its mobile wallet this year, moving the storage app to an actual payments-facilitating product. But to scale, Lemon needed a partner with brand recognition, which it found in LifeLock Inc.

LifeLock Inc., an identity theft protection provider, has purchased Lemon Inc. and its mobile wallet to absorb Lemon's features into its new LifeLock Wallet app.

A new company has formed to tackle the pressing issue of routing EMV debit transactions in compliance with federal mandates, a task the payments industry has undertaken for nearly two years.