Investment

Tyfone Inc. has added Acculynk’s Payzur person-to-person payment capability to the mobile banking application it supports at Boulder Valley Credit Union.

Arroweye Solutions is launching an EMV chip-card customization platform called EMV On-Demand.

South Korean mobile payment provider Danal will partner with biometric technology provider Crucialtec to develop an app for mobile payments in South Korea, and eventually in China and the U.S.

The Republic of Kenya is among the latest countries to make the move to EMV-chip cards, as its local banks and processors mount an ambitious campaign to transition the smart-card standard by early next year in a move to combat fast-rising fraud.

MasterCard has become the first payment network to join the Fast IDentity Online Alliance, which aims to improve online payment security through the use of common technology across browsers, applications and servers.

Visa, MasterCard and American Express are seeking ways to replace account numbers for digital payments. As they research possibilities, they can learn from the many existing and developing technologies that already accomplish much of what the card networks want.

The only way for the payments industry to thwart future hackers is to create a system that can adapt quickly to unanticipated threats – but many companies still struggle with the costs of handling their basic security needs.

The original iPhone revolutionized consumer technology and breathed life into the market for mobile payments — but the newest iPhone's most futuristic feature may signal a growing problem for banks and card networks.

Bad guys are very good at sharing technology and systems that work with other criminal networks — and payments companies can suffer if they embrace the same technology without realizing how it is being exploited.

The payments industry has a significant security challenge on its hands as too many consumers become "chronic oversharers" of their personal and payment card data, says Ellen Richey, chief enterprise risk officer for Visa Inc.