Data and information management

The earliest implementations of the 3D Secure e-commerce system amounted to a password for consumers' payment cards and a link between consumer and card issuer — an idea that is growing stale in a world where consumers are able to authenticate payments with more sophisticated tech.

Biometric security has become a hot topic in the payments industry with many experts lauding its convenience and effectiveness. But there's no consensus on whether to store biometric data locally or in the cloud.

After National Credit Union Administration Chairman Debbie Matz revealed the agency is mulling new encryption standards, a trade association says the regulator should focus on its own steps to "better protect" member "data in its care."

The leak of client records at Morgan Stanley illustrates the danger posed when just one employee has unauthorized or unsecured access to sensitive information, as well as the ongoing threat to financial institutions from insider theft.

Like a coach turning to an old playbook, fraudsters have resurrected an e-mail spam method to attempt to steal personal and card data from bank customers in the U.K.

Xoom, a digital payments company based in San Francisco, disclosed that its systems were exploited for $30.8 million in fraudulent transfers to overseas accounts.

Chick-fil-A recently became the latest victim of a credit card breach, bringing to light the threat that all quick serve restaurants and small retailers are increasingly facing from hackers and data thieves and underscores the challenges businesses face in keeping their networks and data secure.

The payments industry is quickly adapting to new technology, new regulations and new consumer demands. Here are 15 of the industry's major transformations already in progress.

Consumers have long resisted security hardware such as one-time password tokens, as these devices typically slow down the payment process. But shoppers may finally be willing to give up a little convenience for some peace of mind.

The forces of change in payments are swift and coming from seemingly everywhere. Digital migration is wiping away historical industry barriers, facilitating unexpected partnerships and enabling customer relationships that go deeper than the transaction.

Customers give slightly higher marks to retail banks for their overall customer service than they do to credit card issuers, even if the credit card service is a division of the same bank, according to a recent survey of credit and debit cardholders.

The fast food chain Chick-fil-A has confirmed that it was the victim of a recent data breach.

As payments providers shore up their security, using tokenization on top of biometrics on top of encryption, will there be a need for merchants to manage fraud on a per-transaction basis?

Some bankers are worrying that when retailers are no longer such fruitful targets, the hackers will redouble their efforts to break into banks.

Like many large retailers fighting the card networks over interchange fees, Google Inc. opted out of a $5.7 billion settlement in the 2013 class-action lawsuit against Visa and MasterCard.

Credit Karma has begun offering on-demand access to credit reports from Equifax.

Experian will now offer FICO credit scores through its direct-to-consumer products.

It isn't just payday lenders and money-services firms that are being ditched by banks lately. Other banks are getting cut off too.

One of the challenges WePay faces in handling fundraising payments is the lack of visibility into when a given fundraising event will result in a spike of payment volume that is beyond what the vendor can typically handle.

It has been nearly a year since the Target breach has tuned the world into what fraud managers have been dealing with for years.