Payments News

On The Web

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Standards

Is Your Chip Card Secure? Much Depends on Where You Bank

“Chip-based credit and debit cards are designed to make it infeasible for skimming devices or malware to clone your card when you pay for something by dipping the chip instead of swiping the stripe. But a recent series of malware attacks on U.S.-based merchants suggest thieves are exploiting weaknesses in how certain financial institutions have […]

On The Wires

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Standards

Financial Data Exchange Adds 39 New Members with Expanding International Footprint

“The Financial Data Exchange (FDX) has welcomed 39 new members since April 1, 2020, bringing the total membership to over 140 organizations that are working to collectively transition the financial services ecosystem to a modern, transparent and secure API-based data sharing approach.Since its launch in October 2018 with 21 founding members, FDX has seen an […]
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Standards

New ACI Worldwide Data Shows Nearly 50 Percent of Major Fuel Merchants are Currently Unprepared to Meet Extended EMV Deadline

“New data from ACI Worldwide, a leading global provider of real-time digital payment software and solutions, highlights that as of July 2020, nearly 50 percent (47%) of major fuel merchants are unprepared to meet EMV automated fuel dispenser (AFD) compliance by the new April 2021 deadline (extended from October 2020) with less than half their […]
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Standards

ASC X9 Seeks Participants for Development of New Mobile Payments Standards

“The Accredited Standards Committee X9 Inc. ( X9 ) today announced that it is seeking expert participants for two important projects. Two new mobile financial services standards, the third and fourth parts of a suite of standards (X9.134) for mobile banking and payments, will continue the process to adapt and augment ISO 12812 as a […]
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Standards

Leading Canadian Financial Services Firms Launch FDX Canada

“Financial Data Exchange, LLC (FDX) has officially launched in Canada, with 31 organizations leading the country’s financial services ecosystem in joining FDX and taking part in its mission to develop a secure, common, interoperable, flexible and royalty-free industry standard for financial data sharing. “The launch of FDX Canada proves the success of this industry-led initiative to bring […]
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Standards

ASC X9 Expands Mission of Corporate Banking Committee To Become an Industry Focal Point for Faster/Real-time Payments Initiatives

“The Accredited Standards Committee X9 Inc. ( X9 ) today announced that it has expanded the scope of its X9C Corporate Banking Committee to add focus on faster/real-time payments. The group is newly empowered to track all faster payments activity in the financial industry, and the intent is for it to become X9’s central point […]
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Domains

American Express, Discover, Mastercard and Visa to Power Global Expansion of Simple, Consistent Digital Checkout Experience

“E-commerce has reached new heights around the world, as more consumers are going online to make secure, touch-free purchases across various merchants and platforms. Now, it’s more important than ever that the online checkout experience is seamless and consistent across all types of digital channels and cards. Today, American Express, Discover, Mastercard and Visa announced […]
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Standards

EMVCo Publishes Updated Guidelines for Using EMV® Secure Remote Commerce Specifications and Icon

“Technical body EMVCo has confirmed that consumer-facing solutions and programmes based on the EMV® Secure Remote Commerce (SRC) Specifications are to be known as Click to Pay. This universal description enables ease of recognition for consumers, and signals that a consumer can confidently transact through an easy e-checkout, regardless of the payment card, digital channel […]
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Global

Payments Canada Publishes ISO 20022 Messages for Lynx, Canada’s New High-value Payments System

“Payments Canada today announced the availability of ISO 20022 messages for Lynx, Canada’s new high-value payments system.  With the publication of ISO 20022 messages for Lynx, system participants can start preparing their existing applications to leverage the value of ISO 20022. Likewise, vendors who support Canada’s payments ecosystem can use the published messages to update […]