Data privacy

A shopping experience so easy that you feel like you’re shoplifting may be appealing, but it also raises privacy concerns, writes Peter Zaborszky, founder of BestVPN.com

The concept of Smart Cities — which use mobile payments, global positioning and related technology to streamline parking, transit, building access and traffic — is deeply intertwined with the development of payments technology and regulation.

The Amazon effect and rules such as PSD2 and GDPR are threatening technology laggards in traditional financial services, contends Stephen Menon, vice president of product at Finn AI.

Cash is unlikely to go anywhere, while application programming interfaces promise a wealth of new innovation, according to Devon Watson, CMO of Diebold Nixdorf.

A recent study concluded there are first-mover benefits for banks that embrace open banking. But many executives see its risks instead.

To personalize products and services, banks are now tracking all sorts of alternative data sources, even the manner in which customers type in mobile banking apps.

The law gives residents more — and welcome — control over their data. But it will take work for credit unions to meet the new requirements, such as possibly having to amend third-party vendor agreements.

Fintech developers are trying to monetize data without scaring away privacy-conscious consumers — and, increasingly, to make sure bigger financial companies don't overstep the same boundaries.

This European regulation means fraud detection will inevitably need to evolve as the fraudsters find new ways to exploit new loopholes, according to Catherine Tong, vice president and general manager for Accertify.

The Danish bank found more than $200 billion of suspicious deals at its Estonian branch; merchants can opt out of the deal as another case on network rules continues.