Fraud & Security

A deep dive into the more than 2,000 pages of the Consumer Financial Protection Bureau’s regulations covering the prepaid market shows that the CFPB is trying to extend uniform consumer protections to as many payment types as possible. That includes unauthorized or disputed transactions for all financial-access devices regardless of …

JPMorgan Chase Bank and its merchant-acquiring affiliate Paymentech have filed a breach-of-contract suit against restaurant operator and Paymentech merchant Landry’s Inc. seeking to recover $20 million in fines from Visa Inc. and Mastercard Inc. stemming from a 2014-15 data breach at dozens of Landry’s properties. The bank and processor, collectively called …

Procrastination is no longer an option. Time to comply with the massive General Data Protection Regulation for businesses that collect data about European Union consumers has run out. And with the regulation going into effect Friday, many U.S. payments companies have found they, too, have had to change their data-collection …

Some 97% of Visa Inc.’s total U.S. payment volume stemmed from EMV chip cards in March, according to the card network’s latest periodic report on EMV’s progress in the United States. EMV volume totaled $70.7 billion, up from $4.8 billion in September 2015, the last full month before the country …

The digital payments innovators used to be Mastercard and Visa, but with the rise of PayPal, it’s been a new game. Then along came Alipay and Apple Pay and many other local or specialized payment methods, making the playing field even more competitive for these card payment platforms. Visa Checkout …

The proliferation of smart watches, voice commerce, and vehicle-based payments has got merchants abuzz about the potential for making purchases more convenient. But securing these payments is a scattershot affair, with each provider wielding its own protocols, attendees learned at the CNP Expo this week in Orlando, Fla. Payments companies …

The PCI Security Standards Council issued what it calls a “minor update” to the current version 3.2 of the Payment Card Industry data-security standard. Version 3.2.1 adds no new requirements and is meant to eliminate any confusion regarding effective dates for existing PCI DSS requirements and Secure Socket Layer (SSL) …

Selling gift cards online makes a lot of sense for many merchants, but criminals know that, too, and have quickly figured out ways to steal the cards. Now, as merchants have increased their sophistication in countering these thefts, so too have criminals figured ways to foil the merchants. “Gift cards …

E-commerce merchants are beginning to learn efficient ways to navigate the newly launched Visa Claims Resolution program for managing chargebacks. With the increasing emphasis among consumers and merchants on making more of their transactions in the digital realm, Visa Inc. launched in April its new chargeback-resolution program that includes shortened …

Visa Inc. is sponsoring a contest in which the winner will receive an international trip on which all expenses will be paid without using cash. Applicants must submit a short video by June 15. Fidelity National Information Services Inc. (FIS) has extended to 2022 an agreement with Minor League Baseball …