Credit

The EMV smartcard standard is so commonly combined with a PIN code that most consumers know it simply as "chip-and-PIN." But Visa and MasterCard don't agree on whether PIN use should be a priority when the U.S. adopts the EMV standard.

A crime ring based in New Jersey created thousands of fake identities to obtain 25,000 credit cards and steal more than $200 million in one of the largest scams of its type, the Justice Department said.

A café chain in northern New England is telling its customers that hackers may have breached the company’s payments system. The Works Bakery Café is a small target but its experience is indicative of a bigger trend in data security.

The Europay, MasterCard and Visa (EMV) and Single Euro Payments Area (SEPA) standards don't appear to have a lot in common, but there is one alarming similarity — the tortoise-like pace of migration which threatens deadlines for both.

What did mobile wallets look like before Apple and its peers invented the consumer smartphone market and launched App Stores to distribute systems like Passbook, Isis and Google Wallet?

An international crime ring created thousands of fake identities to obtain tens of thousands of credit cards and steal more than $200 million, the Justice Department said.

Amazon.com Inc. today announced plans for Amazon Coins, a virtual currency for its Kindle Fire tablet.

VeriFone Systems Inc. said Chief Executive Officer Douglas Bergeron’s trading was the subject of inquiries by the U.S. Attorney and Securities and Exchange Commission, which ended their probes without action.

Loss mitigation strategies for the payments business are getting a technology makeover that includes the same kind of emerging analysis used to attract consumers in the first place.

To give banks a competitive edge over companies like PayPal, Apple and Google Wallet, two-year-old Sionic Mobile released its mobile commerce platform to financial institutions today.

MasterCard Inc. is working with The Center for Financial Inclusion at Accion to launch a research initiative, Mapping the Invisible Market, with an interactive website as part of the Financial Inclusion 2020 initiative.

VeriFone announced Monday the appointment of a new chief financial officer. Marc E. Rothman, a former chief financial officer at Motorola, is becoming an executive vice president at VeriFone and its CFO. He will succeed Robert Dykes, 63, who will retire from his post at the end of the month.

Visa Inc. contravened Australia's consumer protection laws by preventing buyers from using a currency of their choice when shopping, the country's competition regulator said.

As Loylogic traverses the world looking for more than just a single partner for its rewards redemption app, it's attempting to sweeten the user experience by reducing the amount of navigation needed at the point of sale.

It's shopping season in the payments industry. Just last month, Ingenico, ACI Worldwide and Fidelity National Information Services announced separate acquisitions. Many other companies have bought their peers in recent months.

Visa Inc. has featured the San Francisco 49ers all season in a humorous TV commercial based on a fanatic 49ers fan somehow making his way into the team locker room to deliver a fiery pep talk.

Fifth Third Bancorp has agreed to buy a credit card portfolio from Quad City Bank & Trust.

Data security provider iovation Inc. has released two-factor phone authentication software it says will provide extra protection for consumers making online purchases.

MasterCard continues to ride the plastic wave in worldwide payments. The Purchase, N.Y., company on Jan. 31 reported fourth-quarter net income of $605 million, driven in large part by growing use of its credit and debit cards outside of the United States.

Numerous merchants don't realize their systems accept Discover, prompting the network to visit their stores in person to ask that the retailers stop turning down its cards.