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MasterCard's Contactless Mandate Preps Europe for Mobile Wallets
MasterCard is establishing a foundation for mobile wallets in Europe by requiring the continent's merchants to accept contactless payments by the end of the decade.
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The Payment Card Industry Security Standards Council is providing updated guidance for merchants to protect against fraudulent card skimming, which it says costs U.S. businesses and consumers $8 billion a year. more »
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MasterCard Inc. won a court clash with European Union antitrust regulators who refused to hand over a study comparing the costs of bank cards with cash. more »
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Card data security has to become a 24-hour priority for businesses, not just when PCI compliance assessors come around for annual checkups, according to the Payment Card Industry Security Standards Council. more »
Janet O. Estep, president and CEO of Nacha
Nacha, the electronic payments association, has stepped up scrutiny of the automated clearing house network in an attempt to weed out fraudulent charges. more »
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Planet Payment has partnered with Banco Espirito Santo do Oriente S.A. in Macau to provide UnionPay card acceptance to local merchants. more »
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In the age of digital commerce, more business are using third parties to manage operations, increasing the risk to any payments data they handle, says the Payment Card Industry Security Standards Council. more »
Kenneth Chenault, CEO, American Express
American Express Co. Chief Executive Officer Kenneth I. Chenault defended company rules that bar merchants from asking customers to use cards with lower processing costs as a needed measure to protect its brand. more »
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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. more »
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American Express Co. courts wealthy clients with perks like access to premium tickets. That business model would be jeopardized if it cut processing fees to match those of rivals, an Amex executive testified in a trial over claims the card company violates antitrust law. more »
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The appeals process initiated by retailers just a few days after a district court approved a $5.7 billion settlement in the years-long swipe-fee case will proceed, as U.S. District Judge John Gleeson refused to dismiss the suits. more »
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Merchants are wary of the proprietary look and feel of the process by which the card networks and issuers are adopting new security standards. more »
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Payment processor Vantiv Inc. now offers EMV testing software for U.S. merchants to use to validate the steps of their acceptance of chip-based payment cards. more »

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