Merchant

Consumers and merchants in a digital ecosystem are changing the way people interact with each other and machines, changing payments and requiring an updated approach to security, according to Mastercard.

Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely.

Equifax's data breach may be the most serious, given that it covered 143 million consumers and involved reams of confidential information, but it wasn't the largest. Following are the biggest to date.

Menusifu receives a $3 million round to boost a system that integrates with Alipay and WeChat Pay, enabling Chinese travelers to make direct payments with renminbi from Chinese bank accounts and digital wallets.

The agency and the National Association of Federally-Insured Credit Unions plan to boost efforts to get more credit unions involved with SBA lending.

With the integration to Payveris’ platform complete, FedComp will turn to enhanced digital payments for its credit union clients.

An internal CFPB memo says it was considering a $10 billion fine before settling on $100 million; state suit against credit bureau is likely to be the first of many.

Software PIN pads can be compromised by crooks who intercept the PIN after it's typed. MagicCube attempts to position itself "in the middle" to block these hacking attempts.

Data breaches and payment hacks require not only tech measures, but crisis management. Had Equifax gotten out in front of the story, particularly during the slow news period of August, it would have earned kudos and perhaps mitigated some of the public scrutiny, writes David E. Johnson, CEO of Strategic Vision.

The company has used word of mouth for its marketing, but will use the new funds to reach different channels.