PayThink

Security is a constantly changing game, with criminals adopting new strategies and the payment industry and other financial institutions deploying increasingly sophisticated techniques to stop them.

It’s time organizations use the same type of data security approach to meet Nacha compliance as they do to secure PANs in accordance with PCI DSS, says comforte AG's Trevor Morgan.

With greater connectivity and more information being shared about customers and transactions, there will be more potential to generate valuable business intelligence, says Citizens' Matt Richardson.

Banks could be a better option than payday lenders to meet consumers’ short-term credit needs. But all the OCC’s regulation does is enable partnerships that circumvent state usury laws.

While a merchant may choose to run a program incorrectly, it is our responsibility as professionals to fully understand what the rules are and communicate the impact if they are not followed, says Clearent's Phil Ricci.

Merchant service providers need dynamic cybersecurity assessment tools to identify the key areas of risk in their portfolio in near real-time, says ZeroRisk's Neira Jones.

Without rollbacks of existing anti-money-laundering reporting requirements, a measure designed to make Bank Secrecy Act enforcement more risk-focused would do little to ease banks' regulatory burden.

The quick adoption of financial technology, coupled with remote work, requires firms to focus on internal innovation as well as customer-facing advancements.

The Federal Reserve and other central banks deciding whether to compete with private cryptocurrencies should heed the financial stability risks, such as expanding the economic power of governments and altering longstanding payments models.

Fraud detection and prevention technology must align with clear return policies and strong customer service ensuring that confused but loyal and well-intentioned customers can continue to purchase from merchants, says Ravelin's Mairtin O'Riada.