Payments News

On The Web

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Security

CULedger Completes Blockchain Identity Pilot With Three US Credit Unions

“CULedger claims that MyCUID users can verify their identity by using a biometric function on their smart phone, such as voice, fingerprint or facial recognition. The vendor says that data from its pilot indicated that the average time to verify a member’s identity had been reduced from the industry average of more than 50 seconds […]
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Security

JPMorgan to Ban Third-party Fintech Platforms From Accessing Customer Passwords

“JPMorgan Chase is to enforce stricter security measures, banning third-party fintech apps from accessing customer passwords. The existing method of data sharing provides — with permission — numerous apps with access to customers’ bank accounts, but concerns have been voiced about the possible dangers. No timetable has been set out, but the American finance giant […]
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Security

Fingerprint ID Dominates Authentication, But Facial Recognition Is Growing Fast

“With payments fraud growing every year, the pressure is on in markets worldwide to adopt more sophisticated technology to verify the identity of mobile users. Against that backdrop, the winning technology is fingerprint recognition, with facial-recognition systems presenting a fast-growing alternative, according to the latest study from United Kingdom-based Juniper Research. Driving much of the […]
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Global

IDology’s ExpectID to Offer Integrated Global Capabilities, Enabling Secure and Frictionless Identity Verification Across Borders

“IDology , a GBG company, today announced that its ExpectID solution will incorporate additional countries from North America, South America and Europe. By internationalizing the leading identity verification platform, multi-national organizations will be able to verify and authenticate more customers safely, in real time and without friction.  ExpectID uses an innovative, multi-layered process to access thousands of data sources […]
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Security

India’s About to Hand People Data Americans Can Only Dream Of

“India has more than 560 million internet users, all generating data by the terabyte. Soon they’ll have an unprecedented amount of control over their digital financial footprints, with the ability to decide what to share, with whom, and for how long. India’s top banks are getting ready to roll out a system that gives consumers […]

On The Wires

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Security

Mastercard Brings Digital Identity to Real World Tests

“The pilot program will test a new way for people to prove their identity without having to carry multiple documents. Instead, the model allows the data to sit with its rightful owner – the user. It will activate a distributed model that blends information stored on an individual’s mobile device and verified by additional reference […]
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Deals

Very Good Security Announces Strategic Investment From Visa

“Very Good Security (VGS), a leader in modern data security and custodianship, announced today that it has received a strategic investment from Visa Inc. to expand access to VGS’ infrastructure-as-a-service for financial technology companies (fintechs) and large enterprises. Visa joins other notable investors, including Goldman Sachs, Andreessen Horowitz, Vertex Ventures US, and Max Levchin (co-founder […]