Data and information management

WASHINGTON — To hear the Consumer Financial Protection Bureau tell it, the private student loan market is a mess, filled with angry borrowers many of whom claim to have been taken advantage of by banks and servicers.

Web standards developer W3C has formed the Web Payments Interest Group to create security and customer experience standards.

American Express Co. is pulling new levers to build its business with small merchants and drive mobile wallet adoption, emphasizing its work with Apple Pay.

Next year's updates to the Payment Card Industry data security standards will give compliant retailers better protection, but hackers will be targeting the weaknesses of companies that don't put in extra effort.

American Express Co. said third-quarter profit rose 8.1 percent, beating analysts' estimates, as customer spending increased.

The growing prevalence of Internet-connected devices, along with a seemingly endless string of data breaches, is creating more opportunity to convince retailers to safeguard sensitive account data through new technology.

FICO is joining The CardLinx Association, which develops standards for card-linked offers.

Fuel retailers may shudder at the potential costs of upgrading gas pumps for EMV chip-based card acceptance, but they are a prime target for vendors offering secure mobile payments and deeper fraud-screening analytics.

WASHINGTON — A long-running battle between the Mortgage Bankers Association and the Labor Department is headed for the Supreme Court in December and the outcome could have a significant impact on banks and other mortgage lenders.

Friendly fraud may sound like less of a threat to business than other more large-scale, aggressive attacks, but this sleeper predator costs retailers nearly $12 billion per year, leaving unprotected merchants completely empty-handed and liable for fraud that wasn’t really fraud in the first place.

International Dairy Queen, the ice cream chain owned by Warren Buffett’s Berkshire Hathaway Inc., said customer data were compromised by hackers.

Merchants hope this year's holiday shopping season is better than last year, when high profile data breaches stole the headlines.

I have coined the phrase "managed risk" merchant to correctly define and segregate the stigmatism that traditional Card Not Present (CNP) merchants obtain when labeled as "high risk" merchants.

Online authentication software from Nok Nok Labs now supports Apple's TouchID application interface, enabling consumers using any custom iPhone applications to leverage the fingerprint scanner for authentication.

Oberthur Technologies is launching a payment card that integrates fraud prevention technology from NagraID Security, a move designed to protect against online payment, or "card not present" fraud, twhich is expected to increase due to the EMV migration.

As Federal Reserve Bank leaders continue to study the business case and complexities of establishing a faster U.S. payments system, FIS contends its past experience in other countries makes its technology the right fit for the initiative.

Payments providers have a unique challenge when it comes to satisfying their target audiences.

WePay is adding white-label risk management and other merchant services in an effort to reach digital marketplaces that are under pressure to improve user experience.

Gasoline retailers have three years to upgrade their pumps to accept EMV chip-based payment cards, but most are having a difficult time convincing themselves the cost to do so will be worth it.

Apple Pay couldn’t have arrived at a better time; security breaches in major retailers appear almost daily in the news, and consumers are looking for a more secure way to pay. And while Apple Pay may address that need for many, there are still potential security breaches.