Payments News
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On The Web

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Security

Regulators Urge Banks to Strengthen Customer Authentication

“U.S. financial regulators are calling on banks to strengthen their authentication processes to better protect customer accounts and information systems. The Federal Financial Institutions Examination Council on Wednesday issued new guidance for how financial institutions can properly employ an authentication process for customers, employees and third parties as the number of access points to information […]
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Security

Experian’s Credit Freeze Security Is Still a Joke

“In 2017, KrebsOnSecurity showed how easy it is for identity thieves to undo a consumer’s request to freeze their credit file at Experian , one of the big three consumer credit bureaus in the United States.  Last week, KrebsOnSecurity heard from a reader who had his freeze thawed without authorization through Experian’s website, and it reminded […]
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On The Wires

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Reports

Remote Authentication Fraud: Are You Who You Say You Are? – FedPayments Improvement

“Heightening the need for greater attention to authentication fraud, the COVID-pandemic increased demand for more consumers to enroll in online or mobile (digital) accounts to make remote payments. In fact, average U.S. consumer e-commerce spending was 36% of total spending in December 2020, up from just 26% in March 2020. [1] Unfortunately, fraudsters have noticed […]
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Deals

LoginID Announces Investment From Visa to Accelerate FIDO-certified Strong Customer Authentication

“LoginID , a FIDO-certified authentication provider, today announced additional investment from Visa on the heels of its $6M seed round from veteran payment and fintech entrepreneurs. The investment amount from Visa is undisclosed. Customers are readily accepting the use of biometrics to make payments and other transactions in a secure and convenient way. According to an […]
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Deals

Stripe Newsroom: Stripe Acquires Bouncer to Help Businesses With Fraud Prevention

“Stripe, a global technology company that builds economic infrastructure for the internet, announced today it has acquired Bouncer , a company building card authentication technology to reduce fraud during online transactions. Bouncer’s team and technology will join Stripe to further enhance the capabilities of Radar, Stripe’s powerful, machine-learning-based fraud prevention tool. Bouncer’s card scanning and […]
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Security

PayMyTuition Changes the Game by Incorporating Open Banking Into Their International Student Payment Plans Solution for Educational Institutions

“PayMyTuition, a leading provider of technology-driven payment processing solutions, announced today that it has incorporated open banking into its innovative solution for international payment plans for universities and colleges. This launch will enable educational institutions to validate student banking information and account balance status in real time, creating a highly efficient payments process saving both the […]
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Security

Nok Nok Labs and Netcetera to Provide Delegated Authentication Solutions for Compliance With PSD2-Strong Customer Authentication and EMV® 3-D Secure

“Nok Nok Labs (Nok Nok), the trusted leader in passwordless authentication and Netcetera, the trusted partner for digital payment solutions, today announced a partnership that will deliver delegated authentication solutions to merchants and payment providers seeking to address PSD2-SCA and 3DS 2.x protocols compliance. By utilizing the Nok Nok™ S3 Authentication Suite’s FIDO-based passwordless authentication, merchants, PSPs […]