February, 2021

• 28 February

  The Card Giants Go All in for Crypto

  

  The two big card networks have made no bones about their interest in supporting cryptocurrency transactions, and last month both made major moves in that direction. The actions came as the value of the leading virtual currency, Bitcoin. has soared to record highs in recent months. The bigger move came …

January, 2021

• 29 January

  Payments 3.0: The Regulators Will Strike Back

  

  PayPal has won the first round in what is likely to be a long fight with regulators. On Dec. 30, Judge Richard Leon, of the U.S. District Court for the District of Columbia, handed down a summary judgment in the case of PayPal Inc. vs. the Consumer Financial Protection Bureau. …
• 29 January

  Security Notes: How to Defeat Ransomware

  

  Stolen data presents a burden to the thief. He needs to bring it to market, find a buyer, and compete with other hackers. Ransomware gains, by contrast, are paid in a lump sum by the victim, the money is Bitcoin-protected, and any other data crime can be executed on top …
• 29 January

  Walmart Launches a Fintech

  

  Unlike many fintech startups, Walmart’s Inc.’s new financial company is expected to be a formidable player right out of the gate. The retail giant unveiled plans last month to partner with Ribbit Capital to create a fintech that will provide what Walmart describes as “modern, innovative, and affordable financial solutions.” …
• 1 January

  Payments 3.0: A New Sheriff in Town

  

  With all the changes coming to Washington D.C., the payments industry’s focus will largely be on one appointment: the new director of the Consumer Financial Protection Bureau. The current director, Kathy Kraninger, was appointed by President Donald Trump and confirmed by the Senate in December 2018 to serve a five-year …
• 1 January

  Security Notes: Defund Financial Cyber Security

  

  Cyber fraud is endemic. No one is immune. The Federal Office of Budget and Management, the National Security Agency, political campaigns, all have been victimized. It’s the same for financial institutions—but with one subtle distinction that makes all the difference in the world. Let me explain. No harm is inflicted …
• 1 January

  Paysafe’s $9 Billion Go-Public Gambit

  

  A relatively novel method for private companies to go public gained momentum in the payments industry last month with the announcement that London-based processor Paysafe Group Holdings Ltd. will be acquired by a group put together by Las Vegas-based Foley Trasimene Acquisition Corp. in a deal valued at approximately $9 …

December, 2020

• 1 December

  Payments 3.0: Covid-19 And the New American Wallet

  

  We are all living digitally infused lives as a result of the pandemic, and as the promise of a vaccine suggests that this may end in the coming year, the question is: will the changes stick? One area of keen interest to retailers and the payments industry is mobile payments, …
• 1 December

  Security Notes: EMV Goes ECC

  

  This cryptic headline is quite telling, and it deserves proper attention from the payment community. Payment people know that EMV replaced magnetic-stripe technology, and that it sometimes takes uncomfortably long seconds to get the transaction approved. But few appreciate its big, innovative step in e-commerce. Instead of repeated exposure of …
• 1 December

  Visa Hits Back

  

  Visa Inc. isn’t taking it lying down. The card network last month delivered a rebuke to the Department of Justice over the government’s antitrust lawsuit attempting to block Visa’s $5.3-billion acquisition of Plaid Inc., calling the lawsuit “legally flawed and contradicted by the facts.” The Department of Justice, which had …