Technology

Historically, the industry has placed much greater emphasis on preventing fraud at the point of transaction without doing enough to stop fraudulent account openings, writes Melissa Townsley, co-founder and CEO of GIACT systems.

Consumers and merchants in a digital ecosystem are changing the way people interact with each other and machines, changing payments and requiring an updated approach to security, according to Mastercard.

The Cincinnati bank says its investment unit is taking an equity stake in NRT Sightline to provide a wide range of banking and payments services to casino operators.

Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely.

It's not just big banks. Even U.S. community banks may be subject to the General Data Protection Regulation given the boundlessness of digital commerce.

Equifax's data breach may be the most serious, given that it covered 143 million consumers and involved reams of confidential information, but it wasn't the largest. Following are the biggest to date.

Menusifu receives a $3 million round to boost a system that integrates with Alipay and WeChat Pay, enabling Chinese travelers to make direct payments with renminbi from Chinese bank accounts and digital wallets.

China’s crackdown on cryptocurrency exchanges raises questions about the future of digital asset innovation, a movement that some bankers view as a threat and others embrace as a boon to payments, P-to-P lending and other activities.

The third-party wallets don't market interoperability or share much data, frustrating the process of adding new riders.

While the payments industry may believe a "breach fatigue" has set in, it may have been the expectation of a cowed and apathetic public that partly led to Equifax’s maligned response after its data breach was finally made public.