A server containing sensitive consumer information at Experian has been breached, with the records of as many as 15 million T-Mobile customers stolen, the companies said Oct. 1.
Like campaign managers at the end of a long election trail, top payments executives spent the final hours leading up to and shortly after the official EMV liability shift launch supporting the efforts of the past four years and providing the latest details on chip-card migration.
Rules set by Visa and MasterCard suggest that by today, ideally, banks will all be issuing EMV-compliant cards and retailers will have the technology to accept them. If one party is supporting EMV and the other is not, the delinquent entity will have to cover the cost of any fraud that ensues.
In Canada, there is no Apple Pay, Android Pay or Samsung Pay. But there is a Royal Bank of Canada mobile wallet, despite the bank being challenged to explain why it has been so aggressive on the mobile scene.
Today is an important day for U.S. merchants. It marks the deadline for retailers to upgrade their point-of-sale terminals to EMV-compliant machines. After this, merchants that dont support payment cards with embedded chips will be liable for in-store fraud.
A year after its launch, Apple Pay has infiltrated numerous banks and merchants and two generations of Apple handsets. But its actual usage isn't close to living up to the hype.
A new survey reveals a wish-list for anti-money laundering specialists to help ease their process of assessing customer risk, a major concern as mobile technology and virtual currency play a larger role in the payments market.
When major card networks revealed the EMV chip card liability shift timeline four years ago, the Merchant Advisory Group was quick to make its stance clear: A conversion to chip cards won't mean a thing without a PIN authorization to go with it.
Bankers, investors and analysts stop short of declaring a bubble. But the fintech startup and investor fields are getting crowded, and there's bound to be a culling of the herd. read more »