Investment

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.

In his first day as Global Payments' chief executive, Jeff Sloan shared his thoughts about how a new security initiative from Visa, MasterCard and American Express could affect his company.

Daon, an identity services provider, is providing its biometric authentication system to online payments provider Optimal Payments to support high-risk businesses with stringent Know Your Customer requirements.

Visa, MasterCard and American Express introduced a proposed framework for new global standards that would replace traditional account numbers with a digital payment "token" for online and mobile transactions.

Because third-party processors are on the hook for losses from fraudulent transactions, they have as much interest in eliminating bad actors as anyone.

PCI services and merchant intelligence provider Sysnet Global Solutions is working with iScan Online, which specializes in security scanning of devices, to provide acquirers with new mobile security.

The PCI council continues to expand its reach, with the intent of remaining a strong guide for data security well into the future.

General Payments Systems has developed a software and hardware system that will allow its government agency clients to automate the collection of payments by check.