Vendors in the ATM industry are beginning to move ahead with systems that would allow machine owners to remotely install and manage encryption keys mandated by a new security standard set by the bank card networks. The introduction of solutions for remote administration of Triple DES keys comes even as …

Metavante Corp., which today announced it is paying $610 million in cash to buy the NYCE electronic funds transfer network from First Data Corp. and its bank owners, sees the deal as part of a nearly $1 billion payments strategy that has led the Milwaukee-based processor to snap up other …

Metavante Corp. announced today it has agreed to buy Advanced Financial Solutions Inc., an Oklahama City-based company specializing in check-processing technology and owner of the Endpoint Exchange, a network that routes electronic check images among processors and financial institutions. No price was announced, though Metavante officials said this acquisition, in …

So-called bust-out fraud is an old credit card crime that's not going away, and currently it's responsible for about $800 million annually in largely unreported fraud losses. That sober estimate came this week during a presentation on worldwide transaction-system fraud given by John Schettino, MasterCard vice president for security and …

A new technology that fights counterfeit card fraud by allowing a sort of “fingerprint” comparison routine based on magnetic stripes is getting its first commercial application with shipments having started within the past few weeks of card-personalization machines enabled with the technology. Kiran Gandhi, vice president for Carson, Calif.-based MagTek …

A new U.S. standard in the works now could dramatically cut the costs ATM deployers face in bringing their machines into compliance with the so-called Triple DES encryption requirement set by the bank card networks. As things stand now, banks and other deployers must distribute the Triple DES encryption key, …

Pay By Touch, the San Francisco-based supplier of a point-of-sale payment technology that replaces cards and other media with fingerprint scans, says it is close to several major deals which, if consummated, will give the fledgling company and its system considerable momentum. Among the deals in the pipeline, says Pay …

The news that Barclays PLC is talking to Providian Financial Corp. about buying the San Francisco-based credit card issuer has some observers speculating that the merger could accelerate the development of new electronic transaction products both in the U.S. and in Europe, where Barclays is a major card issuer with …

Fears concerning computer security are resulting in setbacks for the movement toward electronic voting. Most recently, the Pentagon has scuppered plans to allow Americans living abroad to cast ballots on the Internet. At the same time, some county and state elections officials, bowing to worries about computer viruses and the …

With gift cards accounting for more than $17 billion in retail sales, or about 8% of merchants' total take, during the recent holiday shopping spree, according to the National Retail Federation, the plastic has become a star in the electronic transaction firmament. But while gift cards are stealing the headlines, …