Technology

Smaller banks need to develop detailed marketing plans to reach out to cardholders, while also working with their processors to prepare for the transition to EMV cards.

The merchant acquiring industry faces continuing pressure from shrinking margins and disruptive competitors, but it has used the past five challenging years to seek out a position of strength.

When it comes to protecting sensitive payment data, call centers are often the forgotten operation, and card data leaks out unintentionally. Protected data spoken in one cubicle can be overheard by 20 nearby reps, along with any customers on the phone with those reps.

The check may not be in the mail. Today’s consumer uses an average of three different payment methods each month, from online to mobile to walk-in and yes, even the occasional check, according to Seventh Annual Billing Household Survey from Fiserv.

Community banking groups have recently struck referral deals with marketplace lenders that could add revenue in the short run, but they might be giving away potentially valuable data and customers in the process.

Square has boosted its technology capabilities while expanding its presence in Canada through the acquisition of Toronto-based Kili Technology Corp.

Apple Pay and cryptocurrencies such as Bitcoin have a lot of appeal for banks looking to stay at the cutting edge of digital payments. But security and compliance risks are part and parcel of these innovations.

Apple Pay and cryptocurrencies such as Bitcoin have a lot of appeal for banks looking to stay at the cutting edge of digital payments. But security and compliance risks are part and parcel of these innovations.

A false sense of security still emanates from 70% of information technology teams that feel they are safe from cyberattacks, despite evidence that data breaches are a growing and ongoing threat.

For the past two years, acquirers and processors have taken aim at the lengthy EMV chip-card certification process as a major stumbling block for U.S. merchants preparing to upgrade from magnetic stripe technology in time to avoid a shift in fraud liability.