Technology

According to Javelin Strategy & Research’s 2014 Identity Fraud Report, 13.1 million consumers became a victim of identity fraud in 2013—the second highest level on record. This means that 5% of the U.S. population is now being affected by identity fraud every year.

Jamie Topolski, the new director of alternative payment strategies for the Output Solutions division of Fiserv, expects that the U.S. migration to EMV will take as many as 10 years to complete.

Nacha, the electronic payments association, has stepped up scrutiny of the automated clearing house network in an attempt to weed out fraudulent charges.

Square Cash, a person-to-person payment service Square launched in October 2013, has been redesigned to become more useful as an app-based product.

Online electronics retailer Newegg is now accepting bitcoin payments from Canadian customers.

The Shazam electronic funds transfer network has appointed Paul Waltz as its president and chief operating officer in anticipation of CEO Michael Hollinger's retirement next year.

Convenience store and gas station operator Mapco is using PayPal-funded mobile payments to keep motorists from straying to competitors' gas pumps.

The U.S. won a Dutch top court ruling allowing it to seek the extradition of a Russian man suspected of helping to lead a ring that hacked 17 companies including Nasdaq OMX Group Inc. and 7-Eleven Inc.

The U.S. won a Dutch top court ruling allowing it to seek the extradition of a Russian man suspected of helping to lead a ring that hacked 17 companies including Nasdaq OMX Group Inc. and 7-Eleven Inc.

Sequent has patented a payment system that allows merchants to simultaneously accept several types of cards with a single tap of a mobile device at the physical point of sale, with the goal of making mobile wallets more user-friendly.