Payments News

On The Web

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Standards

New Swift ISO Will Be Delayed

“A proposed migration date for a new ISO covering cross border payments looks set to be delayed by a year. The ISO 20022, which was proposed by international financial network service provider Swift, was due to come into force in November of next year (2021). The aim of the new system was to provide a […]
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Global

AsiaKredit To Pioneer Global Standards Of Responsible Finance And Client Protection For The Underbanked

“AsiaKredit, a leading digital consumer finance fintech in the Philippines, is spearheading financial consumer protection and empowerment in the Philippines via the world’s first financial consumer protection standard, the Smart Campaign. The Smart Campaign is a globally recognized initiative by the Centre for Financial Inclusion at Accion (CFI), a U.S-based think-tank for financial inclusion.”
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Standards

EMVCo Adds Support for IoT Payments

“The IoT is creating new ways to pay, with payment functionality enabled across various industries globally,” comments Bruce Rutherford, Chair of the EMVCo Executive Committee. “This innovation needs to be balanced with functionality, usability and security. By optimising existing processes to support new IoT payment use cases, EMVCo brings efficiencies and confidence to the IoT […]
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Security

Keeping Merchants PCI-Compliant Is Becoming Tougher, Survey Finds

“Independent sales organizations are increasing their use of non-compliance fees for merchants that don’t adhere to PCI Security Standards Council requirements, with 23% of ISOs surveyed for the ControlScan/MAC 2020 Acquiring Trends Report saying they assess these fees. That’s up from the historic range of 17% to 18%. The report, released Tuesday, is based on […]

On The Wires

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Standards

Inadequate Data Security Practices Come With Serious Financial Consequences for Canadian Businesses

“Over one-third of Canadian consumers have experienced the consequences of a security breach or hack, according to newly released research conducted by secure payments provider to contact centers, PCI Pal . The findings suggest that a combination of recent high-profile breaches, media coverage of new data privacy regulations such as GDPR and Canada’s Personal Information […]
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Standards

US Payments Forum Releases Guidance for Streamlining EMV Certifications at the Fuel Pump

“Testing and certification have been cited as one of the biggest challenges for EMV chip implementation at the automated fuel dispenser (AFD). With the AFD fraud liability shift slated for October 2020, the U.S. Payments Forum has released guidance for streamlining this process and reducing redundancy, implementation time and effort required to achieve certifications for […]
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Standards

Ally, Discover, MassMutual, and TransUnion Among 25 New Members Joining the Financial Data Exchange

“FDX represents an industry-wide movement to enhance consumer and business controls of financial data, through its FDX API and technical standards that prioritize the group’s Five Core Principles of Financial-Data Sharing – Control, Access, Transparency, Traceability and Security.   The growing membership is also reflected in the rapid adoption of the FDX API, as data […]
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Standards

NFC Forum Specifications Improve NFC Communications Speed and Robustness For Smartphone Users Worldwide

“The NFC Forum , the global standards body and advocacy association for Near Field Communication (NFC), released four new specifications today improving the robustness and communications speed for the over two billion NFC-enabled devices, like smartphones, in use today. These specifications improve the user experience in noisy radio environments by adding recovery rules and enhanced […]