Payments News

On The Wires

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Standards

How EMVCo Is Supporting the Rising Use of QR Codes for Payments – EMVCo

“Advances in technology are making secure card payments possible in new ways – whether online or face-to-face. EMV® Specifications have evolved beyond the original EMV Chip Specification to support a wide range of technologies for card-based payments, including contactless, mobile, tokenisation and QR Codes™. Increasingly, QR Codes are used to initiate mobile payments at the point-of-sale. […]
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Standards

Financial Data Exchange (FDX) Adds 18 New Members

“The Financial Data Exchange (FDX) has welcomed 18 new members since the beginning of 2021, bringing its total membership to 186 organizations. FDX members include financial institutions, financial data aggregators, fintechs, payment networks, consumer groups, financial industry groups and utilities and other stakeholders. FDX works through its members to define and promote adoption of common, […]
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Companies

Less Than Half of Major Fuel Merchants Meet Extended EMV Deadline, According to New ACI Worldwide Data

“New data from ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions , shows that as of April 17, 2021 — the extended EMV liability shift deadline — less than half (48%) of fuel merchants will meet EMV automated fuel dispenser (AFD) compliance mandates. As of the extended deadline, […]
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Standards

Financial Data Exchange (FDX) Announces Results of Annual Strategic Survey

“The Financial Data Exchange (FDX) today announced results from its 2021 annual strategic survey of its members. The FDX strategic survey provides an inside look at where leading financial firms are prioritizing technical standards work for consumer-permissioned data sharing and how the marketplace is maturing. Specific to the 2021 survey, FDX members indicated a desire […]
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Standards

NACS Seeks to Delay EMV Compliance

“NACS, along with Energy Marketers of America, the National Association of Truck Stop Operators and the Society of Independent Gasoline Marketers of America, have requested a delay of the deadline for the upcoming EMV liability shift  for automated fuel dispensers to October 2021. The requests were sent to American Express , Discover , Mastercard , Visa , Voyager and […]
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Standards

ASC X9 Launches ISO 20022 Best Practices Forum

“The Accredited Standards Committee X9 Inc. ( X9 ) announced the formation of the U.S. ISO 20022 Market Practice Industry Forum, which will work to research and document best practice recommendations in order to catalyze ISO 20022 usage in the United States. ISO 20022 is a multi-part international standard that defines a common platform for […]
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Standards

Financial Data Exchange Adds 33 New Members

“The Financial Data Exchange (FDX) welcomed 33 new members in the past 4 months, bringing the total membership to 168 organizations. The group is collectively working to transition the financial services ecosystem to a modern, transparent, and secure API-based financial data sharing approach. Since its launch in 2018 with 21 founding members, FDX experienced an […]
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Standards

Volante Extends Collaboration With Citi for Global ISO 20022 Migration

“Volante Technologies , the global leader in cloud payments and financial messaging, and Citi Treasury and Trade Solutions (Citi) are deepening their longstanding relationship to accelerate the bank’s adoption of the ISO 20022 financial messaging standard across its global payments operations. As a result of this collaboration, Citi will be the first Volante customer to offer […]
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Standards

ASC X9 Issues First Blockchain Terminology Standard

“Today the Accredited Standards Committee X9 Inc. ( X9 ) announced the publication of X9.138 — Distributed Ledger Technologies Terminology, a much-needed standardized glossary of the most important common terms and definitions used with distributed ledger technology (DLT). The highest-profile example of DLT is bitcoin. The new standard is available for download at no charge.”