Payments News

On The Web

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Standards

As a Deadline Nears, TNS Offers Deferred Payments for Installing EMV at the Pump

“With gas stations and convenience stores feeling the economic pinch from the slowdown in sales caused by the Covid-19 pandemic and uncertainty over the economy, Transaction Network Services Inc. announced a new pricing structure to help cut station owners’ telecom-network installation costs for EMV at the pump. Transaction Networks Services (TNS) will defer monthly payments at […]
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Standards

Payment Card Security Remains Lax, Says Verizon Business Report

“Payment security is getting weaker as 27.9% of global organizations were in full compliance with the Payment Card Industry Data Security Standard (PCI DSS), according to Verizon. The Verizon Business 2020 Payment Security Report highlights that PCI DSS compliance is down 27.5% from 2016. Full PCI DSS compliance meets 12 requirements.”
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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

PCI Pal® Announces Strategic Alliance with Stripe to Rapidly Deploy Payment Security Deployments

“PCI Pal ®, the global provider of cloud-based secure payment solutions, has today announced an alliance with the global payment services provider, Stripe. For organizations already using Stripe’s range of payment infrastructure services for web-based businesses, they can now quickly deploy PCI Pal’s security solutions to ensure payment collections are handled in accordance with the […]
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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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