Thursday, April 30, 2009
ASC X9 standards body launching encryption initiative with breached payment processor Heartland Payment Systems playing a big role The same organization that led the development of security standards for payment-card magnetic stripe data and PIN-based transactions will soon begin work on a new specification for encrypting cardholder data while it is in transit between systems during the transaction process.
Wednesday, March 04, 2009
First announced toward the end of Sibos 2008 in Vienna, Swift’s partnership with the reinsurance industry marks a further extension of the co-operative’s reach beyond the banking industry.
Sunday, March 01, 2009
The pressure on credit and debit card interchange builds as more alternative payment systems are introduced and lawmakers continue to eye rate regulation.
Monday, January 05, 2009
Nine years ago, the European Union set out a plan to create an internal market for financial services by 2010. The first steps towards turning the idea into reality included removing differences in costs of Eurozone cross-border card payments, ATM withdrawals and credit transfers to ensure that bank customers see no practical difference between domestic and cross-border transactions. As such, the concept of the Single Euro Payments Area started as a framework to benefit corporates and consumers but since those early days has morphed into an interbank framework that has been moulded primarily by the banks with little guidance from the European Central Bank, the European Commission or any other regulatory body.
Tuesday, December 09, 2008
Point of detection is a way to measure fraud that, if implemented across the board, could reduce fraudulent payments and reassure corporates and consumers.
Thursday, November 13, 2008
The payment technology specialist ACI Worldwide says a transformation program initiated three years ago is paying off, as a growing number of banks are asking for help stitching together transaction systems that have long functioned independently.
Friday, September 26, 2008
One year ago, the thought of a total loss of customer confidence in the stability of a major UK retail financial institution would have seemed laughable. Today, the thought of a similar collapse in trust caused by a systematic attack on a bank by highly skilled online fraudsters might seem equally risible. Yet as we have seen with Northern Rock, the unexpected can become real and to protect customer confidence, an intelligent, multi-layered approach to online security is essential.
Tuesday, September 09, 2008
Political intrigue and a lack of leadership might yet kill the European Commission’s vision of a Single Euro Payments Area.
Monday, September 08, 2008
The payments software company ACI Worldwide, Inc. hopes to use a nine-month-old alliance with International Business Machines Corp. to modernize and streamline its offerings, an executive said.
Tuesday, July 01, 2008
The UK faster payments initiative is expected to revolutionise the way consumers and companies do business, and yet it was launched in May with little fanfare. Charlie Corbett explores the impact of the new system and why the trumpets were muted.