Data and information management

As the payments industry attempts to standardize the process of using a token to replace sensitive data, the end result may still involve several different approaches.

Target Corp., struggling to fix a botched expansion in Canada and undo the lingering damage of a holiday hacker attack, hired former PepsiCo Inc. executive Brian Cornell as chief executive officer.

WEX Inc. is working to finalize several key acquisitions to bring the corporate payments provider into new markets.

The Secure Remote Payment Council wants a more open process in the development of a standard for tokenization, with the goal of ensuring a single token can be handled by multiple parties to improve security.

With the increased proliferation and reliance on public cloud solutions, combined with the recent high-profile data breaches that have occurred in the past few months, cybersecurity should be a top concern for both issuers and retailers who handle sensitive financial data.

The Justice Department's legal case against American Express will not benefit consumers and will weaken competition, said Jeff Campbell, executive vice president and CFO of American Express.

BJ's Wholesale Club is planning to convert its co-branded credit card program to chip-enabled MasterCards.

Diebold is unveiling an anti-skimming card reader designed to prevent criminals from stealing card data from unsuspecting automated teller machine users.

Since the collapse of the subprime mortgage market, lenders have all but stopped offering loans that sound too good to be true. But that's not the case with subprime automobile loans, which lenders continue to market aggressively to consumers with imperfect credit.

First Data is making a push into offline and online gambling payments processing, providing new services that cover a riskier set of transactions than those it already handles for businesses that operate casinos.

If there's one lesson bankers and retailers can take away from the hacking incident at online ticket seller StubHub, it's that they need to educate their customers about the dangers of using the same passwords on multiple sites.

More consumers are skipping the mall and buying online instead. Many traditional retailers have already moved online to maximize their sales among customers who either don’t have access to their physical shops due to distance, or for whom shopping online is simply more convenient.

Machine-learning fraud detection, which self-updates to adapt to fraud trends, is growing in popularity but hasn't rendered hands-on methods obsolete.

Visa, which just revamped its digital payment system, will introduce secure "tokens" in September to replace the 16-digit account number for online payments.

The Clearing House and EMVCo launched separate efforts to develop standards for tokenization, a process that replaces sensitive account data with a secure token. But now, their paths are converging.

The credit card issuer is looking to build its campus business at a time when other banks' relationships with college and universities are facing regulatory threats.

ProPay, a division of the payment processor Total System Services (TSYS), will provide ControlScan's data security compliance tools to small businesses.

Nonbank mortgage lenders are chafing at a report from a government watchdog claiming they are less regulated than large banks and pose increased risks to Fannie Mae and Freddie Mac.

Discover Financial Services reported a rise in quarterly profits on strong growth in its loan portfolio.

As the U.S. shifts to EMV-chip cards to improve security at the point of sale, fraud will move online, and ACI Worldwide is preparing for that challenge. The payment technology company's $205 million purchase of ReD will help it close up vulnerabilities in card-not-present transactions.