When black market criminals use tighter security than global payment systems, you know the banking industry needs to wake up. Two-factor authentication (2FA) is now a standard practice on the dark web, yet most banks require just one password to authorize transactions.
While the current phase of the U.S. chip card migration is still far from the finish line, attention is turning to the 'next' EMV migration at gas stations, which figures to be just as challenging.
With the rise of online card fraud and the availability of new EMV and encryption technology, a San Mateo, Calif.-based startup sees an opportunity to combine these new tools with a card reader called Chip Shield.
Digital transformation goes beyond digitizing processes like payments or other financial services.
Paul Fiore's path from online banking vendor Digital Insight to credit union mobile payment venture CU Wallet included a stop in the film business, where he saw firsthand the tricky task of bringing modern technology to a legacy industry where cooperation is in short supply.
While the benefits of coupon 'extreme stacking' are traditionally geared to consumers, it can also help retailers understand consumer behavior and better plan their marketing initiatives.
There is merit to the 'coopetition' strategy, such as faster time to market and reduced consumer confusion. But time and again, bitter rivals such as telcos and big-box retailers try to work together only to see their efforts fall apart or vastly reduce the scope of their goals.
Users of the Walmart MoneyCard, issued by Green Dot, took to social media Wednesday to complain about problems they've encountered checking balances and accessing funds. The problems come at inopportune time for Green Dot.
During the ascension of marketplace lending, banks responded to the competitive threat in several different ways. Now some banks are better positioned than others to take advantage of the online sector's recent woes. read more »