Merchant

Recent cyber-attacks on the protocol that has long secured Web connections and, more recently, payment applications are pushing the Payment Card Industry Security Standards Council to issue an update with strong implications for e-commerce sellers.

The payments environment is undergoing unprecedented change, yet many banks and payment companies are saddled with aging infrastructure which makes it costly to support new products and features. Additionally, fragmented governance and siloed business units running disparate payments operations can stifle innovation.

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As digital technology has reshaped the acquiring business, some of the industry's biggest names are making splashy investments in mobile payments and merchant marketing.

The Office of the Comptroller of the Currency appointed Richard Taft to be its next deputy comptroller for credit risk.

Seeking online merchants that are angry about fraud-related chargeback expense, Kount and Ethoca are partnering to tip off businesses about payment cards that have a track record of suspect transactions.

Payment companies need to pay attention to social payments, which will get a major boost as consumers get more comfortable with mobile transactions.

The Consumer Financial Protection Bureau has released its annual report to Congress, detailing enforcement actions in 2014 and the status of coming up with rules for the collection industry.

While Apple Pay has won the buzz war since its launch in October, Samsung’s mobile payment initiative is poised for higher use at retailers, according to Mike Cook, a senior vice president and assistant treasurer at Wal-Mart Stores.

A New York judge dismissed a lawsuit alleging HSBC Holdings Plc violated a law requiring lenders to file paperwork entitling homeowners to settlement conferences within 60 days to negotiate loan modifications.