Europe’s new payments regulation promises much, including free transactions. But do banks need to be forced to do what’s in the best interests of customers and shareholders? The European Union’s revised payment-services directive (PSD2) changes rules governing payments and is intended to, and inevitably will, impact the roles and economics …

Fraud-related expenses for merchants are rising as a percentage of revenues, and merchants now spend 10 times as much preventing fraud as they lose to chargebacks, according to new findings from Javelin Strategy & Research. Pleasanton, Calif.-based Javelin says its June study of 497 e-commerce merchants found that merchants in …

What’s the future of electronic payments? For many consumers, it’s one that incorporates biometrics for authentication and payments, finds a survey from Viewpost IP Holdings LLC, a business-to-business payments provider. In the survey of more than 1,000 U.S. consumers, Viewpost found that 50% believe fingerprint technology—already in use with many …

The financial-services industry is closer than you think to widespread adoption of biometric authentication, says Kirsty Tull. Here’s why. There is always that scene in action and spy movies. You know the one. In Mission: Impossible, they must defeat the facial-recognition system to access some secret data. James Bond’s gun …

Controversial from the start, the PCI Council faces a vastly changed security landscape from the one it confronted when it was born 10 years ago. Mobile payments, tokenization, and the growth of tech startups are new elements on the payments scene, but data breaches still abound, much as they did …

By John Stewart@DTPaymentNews Online merchants are dreading an onslaught of fraud, but what they should really brace for is a much bigger problem: so-called new version, which comes from EMVCo, the standards body controlled by the global card brands, will work in-app as well as within browser-based shopping sessions and …

By Kevin Woodward@DTPaymentNews The payments industry’s efforts to protect sensitive cardholder data and transactions are moves in the right direction. They’ll have to be, because solutions to the epidemic of data breaches and online fraud are going to have to come from the private sector and from consumers’ own precautions. …

The question is, how to replace it with something more secure? One promising avenue lies in a standard developed by tech companies that belong to the FIDO Alliance. Since the birth of the personal computer, consumers have held tight to the belief that user names and passwords are secure. Those …

By Jim Daly@DTPaymentNews Two hotel and resort chains this week reported apparent data breaches involving payment cards used at their locations. These latest compromises come less than two weeks after compromise occurred between early March and mid-June. Millennium, which has 14 luxury or boutique U.S. properties, isolated and then took …

• A payment card data breach reported in May by the hamburger chain Wendy’s Co. was much more extensive than originally thought, the company said Thursday, according to Reuters. Wendy’s now says the breach affected approximately 1,025 stores, or about 18% of the company’s U.S. and Canadian units. In May, …