PayThink

Dealing with a service bureau arrangement can unexpectedly become a giant, expensive nightmare. Here's one cautionary tale.

When deploying connected devices, firms much balance the mix of innovation and security, writes Pip Courcoux, sales and product manager for CLIQ Systems at Abloy UK.

It remains to be seen whether anti-money-laundering provisions will get a deeper look this Congress or whether political optics will divide lawmakers on moving ahead with changes.

Tax refund payment fraud has become far more sophisticated with attacks targeting tax professionals, human resource departments and even payroll offices, writes Deb Geister, financial crimes strategist and subject matter expert for NICE Actimize.

The Fed is stepping up transparency around its process for testing bank resiliency in a hypothetical crisis, but additional improvements are needed.

Payments providers can use this announcement as a chance to evaluate their mobile payment offerings and gain a better understanding of consumers’ evolving expectations in order to better serve their merchants, writes Casey Bullock, general manager of global enterprise e-commerce for North America at Worldpay.

The administration’s move seems aimed at cutting down on regulation. But broader reviews by the White House under the Congressional Review Act could hinder rules the industry supports.

Some companies believe that their employees will know the difference between legitimate versus spoofed emails. While this might be true some of the time, even one mistake can be costly, writes David Barnhardt, executive vice president of product at Giact.

The bureau should adopt a clear, consistent framework for determining civil money penalties against financial firms.

Machine-to-machine payments and AI are paving the way for dynamic and rapidly adapting ecosystems, and it’s an exciting time to be in the payments industry. However, with all the transformation, financial institutions and regulators should be aware of the latest developments to adequately shift their strategies, writes Martin Amend, a senior consultant at Capco.