Merchant

The Merchant Customer Exchange, a retailer-backed mobile wallet venture of over three years in the works, has postponed its plans for a national rollout of its mobile wallet.

The Supreme Court on Monday ruled that private attorneys hired by states are not in violation of the Fair Debt Collection Practices Act when using official letterhead to collect a debt. The case has been watched closely by financial institutions for its interpretation of “false, deceptive or misleading” practices.

Huntington Bancshares is the latest institution to add a cybersecurity expert to its board, highlighting the growing importance of guarding against hackers and other online dangers.

Two Ohio law firms did not use illegal tactics when they mailed debt collection letters on stationery bearing the name of Ohio’s attorney general, according to a unanimous Supreme Court ruling Monday.

Complaints against debt collectors filed with the Consumer Financial Protection Bureau dropped last month from 3,505 complaints in March to 2,816 complaints in April, a 19.7% decrease.

Stadiums, concert halls and other entertainment settings have long been venues in which terminal providers like NCR or Oracle would likely have units in place, offering a vast array of functions tailored to those businesses.

Transaction laundering is an increasingly popular scam, in which cyber-criminals hijack the legitimate payment process to sell all manner of illicit goods and services online.

Square, which has been aggressively adding merchant services to enhance its mobile payments product, has added an invoice scheduling feature to add flexibility to merchant payments.

The rub is that the global messaging system's security is only as strong as the weakest link.

The May issue of The Atlantic contains an insightful story that puts a face to one of the biggest economic issues facing this country: the erosion of household savings in America and the resulting traumatic impact on the middle class.