Merchant

CEO Michael Corbat and CFO Mark Mason dodged questions from analysts about how much time and money Citigroup expects to spend to address recent enforcement actions.

EMV specifications body EMVCo has started a pilot program to evaluate consumer mobile devices for contactless payment acceptance, enabling vendors to have smartphones and tablets evaluated for possible use by merchants to accept payments without attached card readers.

Lenders welcomed the move as a helpful first step but are still urging policymakers to develop a broader, simpler process for expediting the approvals of loans extended to troubled small businesses under the Paycheck Protection Program.

Connected devices have become a popular way for retailers to mitigate human contact, turning forward-looking projects into near-term necessities. To keep this transition on track, NCR is using Microsoft's cloud.

The regulator found that the financial services company failed to take precautions in disposing of hardware that contained sensitive customer information.

It's a perplexing problem for those developing and instituting Payment Card Industry data security standards: Even as threats rise, the number of organizations that fully comply continues to drop.

While validating the card itself can protect merchants from accepting fraudulent cards at the point of sale, it does not protect the actual data on the card itself from being intercepted in the POS device, says Bluefin's Rustin Miles.

The Small Business Administration has been covering six months of principal, interest and fees for loans that existed on Sept. 27. There are concerns the moves are masking weaknesses in lenders' 7(a) portfolios.

With travel spending still largely sidelined by the coronavirus pandemic, Amazon is looking to harness more of the spending that small and medium-sized businesses are focused on for recovery.

Longtime finance entrepreneur Jackie Reses, who led Square Capital for the last five years, is leaving the company at the end of the month. Square has not yet named a successor.