Payments News

On The Web

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Standards

BNY Mellon Launches ISO 20022 Hub

“BNY Mellon has launched an ISO 20022 Hub to help clients and other financial institutions to manage the transtion to the new payment standard. Set for introduction in November 2022, the ISO messaging standard promises to have significant and widespread impacts on financial institutions across the globe over the coming years.”
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Standards

EMVCo Adds Support for Elliptic Curve Cryptography

“EMVCo has issued a new specification bulletin that adds support for elliptic curve cryptography (ECC) to its EMV contact chip specifications to enable ‘robust EMV contact chip security long term as payment technologies evolve.'”

On The Wires

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Standards

Financial Data Exchange (FDX) Reports 28 Million Consumer Accounts Use FDX API for Open Finance and Open Banking

“The Financial Data Exchange (FDX) today reports 28 million consumer accounts now use its FDX API for open finance and open banking data sharing. Since the group’s last report, more than one million additional consumer accounts were transitioned to the FDX API per month, representing an increase of six million additional consumer accounts that use […]
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Standards

Financial Data Exchange (FDX) Adds 26 New Members

“The Financial Data Exchange (FDX) has welcomed 26 new members since May 2021, bringing its total membership to 208 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 its common, interoperable, […]
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Standards

Financial Data Exchange Releases FDX API 5.0

“The Financial Data Exchange (FDX) today announced a major update of its common open finance standards via the release of FDX API version 5.0. The new version of the FDX API significantly increases market standardization of financial data sharing around consent, user control and consumer dashboards, and aligns with other global standards like the Open […]
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Standards

EMVCo Publishes EMV® 3-D Secure 2.3 to Support More Secure and Convenient E-Commerce Authentication – EMVCo

“Global technical body EMVCo has enhanced the EMV® 3-D Secure (3DS) Specifications to improve the consumer experience and fraud fighting capabilities for issuers, acquirers and merchants across e-commerce channels and devices. The latest version, EMV 3DS 2.3, has been published following approval of its release by EMVCo’s Board of Advisors. EMV 3DS 2.3 introduces enhancements to […]
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Standards

EMVCo Publishes Guidance for EMV® 3-D Secure Transactions to Utilise EMV Payment Token Data – EMVCo

“Global technical body EMVCo has published new resources to help card issuers and merchants to optimise the EMV® 3-D Secure (EMV 3DS) authentication experience for online shoppers when EMV Payment Tokens are in use, enhancing the fraud-prevention benefits that EMV 3DS provides. EMV Payment Tokens are used across the payments ecosystem to increase the security of […]
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Standards

Financial Data Exchange (FDX) Reports 22 Million Consumer Accounts on FDX API

“The Financial Data Exchange (FDX) today reports that 22 million consumer accounts are now using its FDX API for open finance data sharing. Since FDX’s last report in April 2021, over 1 million additional consumer accounts per month were transitioned to the FDX API, representing an increase of 6 million more consumer accounts using the FDX API today […]
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Standards

EMVCo Publishes EMV® 3-D Secure UI/UX Guidelines – EMVCo

“Global technical body EMVCo has published EMV® 3-D Secure (EMV 3DS) UI/UX Design Guidelines to help card issuers, banks, merchants and solution providers optimise the EMV 3DS payment authentication experience for e-commerce consumers. The guidelines are publicly available on the EMVCo website in an easy-to-use interactive format. In e-commerce purchases where EMV 3DS solutions are used, […]