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Chicago Fed Official Tapped to Lead Payments Reform Effort
The Federal Reserve Board on Friday announced the appointment of a senior official at the Federal Reserve Bank of Chicago to lead the central bank’s efforts to improve the national payments system.  more »
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Image: Thinkstock
As the deadline nears for U.S. EMV adoption, more processors are partnering up to help their clients speed through the certification process. more »
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Merchants expect that payment card fraud will migrate to e-commerce as the U.S. gets more protection at the physical point of sale through EMV chip cards. That means chargebacks, already a problem in physical retail, will escalate in e-commerce as well. more »
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The state has moved against the Embassy Suites hotel chain after one of its hotels was breached, affecting about 17 customers. more »
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California officials are considering a wide range of options to regulate digital currencies such as Bitcoin. more »
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The Federal Reserve Board is taking public comment on whether to require member banks to move to same-day payments after an industry group voted to mandate faster payments among the nation’s 12,000 financial institutions. more »
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ATMs have long been a target of fraudsters hoping to steal a large amount of card data from unsuspecting consumers, and the problem looks like it can only get worse before it gets better. more »
Ryan McInerney, Visa's president
Visa Inc. isn't expecting a near-term financial boost from processing domestic card transactions in China, even though the doors have finally opened up to do business in the massive Chinese market. more »
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It took a long time, but the U.S. banking industry has finally embraced the concept of speedier payments. more »
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The Consumer Financial Protection Bureau has cited PayPal for illegally signing up consumers for online credit. more »
Janet Estep, Nacha's president and CEO
The plan calls for the implementation of two new same-day settlement windows by March 2018. Fees that banks and credit unions will pay each other to cover the cost of the upgrades have been decreased. more »
Paul Galant, CEO of Verifone
If Verifone wants to benefit from the major card brands' efforts to operate in China, it must confront a virtual army of independent sales organizations already selling low-cost payment terminals. more »
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In a move foreshadowed by Alibaba Group Holding's initial public offering in the U.S., the China-based e-commerce giant's Alipay division has received a U.S. money transmitter license. more »