Technology

With 63% of all data breaches resulting from stolen, weak or default passwords, and recent compromises targeting millions of stored passwords, Fast Identity Online Alliance members say the time is now for device manufacturers and e-commerce merchants to embrace new authorization technology.

One of the supposed perks of EMV chip-card upgrades was that the process would enable more modern payment options such as mobile wallets. In practice, however, EMV is closing as many doors as it opens.

I’d like to suggest there is one more bubble which has yet to be called out, but is nevertheless pretty obvious to a handful of payments professionals who don’t practice the art of denial or are not paid to cover up the obvious symptoms. It’s the payments bubble.

For the first time, the Fed this year is requiring banks subject to stress tests to show how they would cope with the possibility of rates dipping into negative territory. Analysts say they will be keeping close watch on custody banks, asset-sensitive regionals and banks with little overseas exposure.

Malaysian remittance company Metro Money Exchange has selected Dragonfly Fintech, a Singapore-based blockchain technology provider, to power its remittance business.

Following a similar move from Visa last week, MasterCard is streamlining EMV certification and will adjust its fraud-cost policy for non-EMV compatible merchants.

Four state-run banks in Thailand and 15 corporations will soon begin registering for PromptPay, formerly known as the AnyID scheme, a national payments platform that will allow users to send money with only their national ID or mobile phone number.

Changing the rules in the middle of the game. Rescuing the investors who took big risks at the expense of those who behaved prudently. Undermining the credibility of the system.

The term real-time payments is a slight misnomer. It focuses the industry and the market on the outcome instead of the input.

As sexy as decentralized systems and automation are these days, human involvement is still necessary in many areas.