Payments News

On The Web

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Companies

Capital One Reports Data Breach Affecting 100 Million Customers, Applicants

“Capital One Financial Corp. , the fifth-largest U.S. credit-card issuer, said Monday that a hacker accessed the personal information of approximately 106 million card customers and applicants, one of the largest-ever data breaches of a large bank. The bulk of the exposed data involves information submitted by customers and small businesses that applied for Capital One […]
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Global

Concerns Over Security: Govt Fears WhatsApp May Share Payments Data With Facebook, Others

“Indian authorities are concerned that WhatsApp’s payment service might share user data with group companies Facebook & Instagram, compromising the security, privacy and non-commercial information of its subscribers. The government has asked the National Payments Corporation of India (NPCI) to look into the matter and ensure that user data collected through payment services such as […]
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Security

UniCredit Investigating Data Breach Possibly Related to Capital One

“UniCredit SpA is investigating the possibility of a data breach that the Italian lender believes could be related to a similar hacking incident at Capital One Financial Corp. COF 1.33% , according to a person familiar with the matter. The company is examining whether a directory held on a cloud server was accessed without authorization, the person […]
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Security

CULedger Completes Blockchain Identity Pilot With Three US Credit Unions

“CULedger claims that MyCUID users can verify their identity by using a biometric function on their smart phone, such as voice, fingerprint or facial recognition. The vendor says that data from its pilot indicated that the average time to verify a member’s identity had been reduced from the industry average of more than 50 seconds […]
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Security

New York payments startup exposed millions of credit card numbers

“A massive database storing millions of credit card transactions has been secured after spending close to three weeks exposed publicly to the internet. The database belongs to Paay, a card payments processor based in New York. Like other payment processors, the company verifies payments on behalf of selling merchants, like online stores and other businesses, […]
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Security

India’s About to Hand People Data Americans Can Only Dream Of

“India has more than 560 million internet users, all generating data by the terabyte. Soon they’ll have an unprecedented amount of control over their digital financial footprints, with the ability to decide what to share, with whom, and for how long. India’s top banks are getting ready to roll out a system that gives consumers […]

On The Wires

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Security

Cross-Industry Coalition Advances Digital Trust Standards

“The Linux Foundation, the nonprofit organization enabling mass innovation through open source, today announced it will host the Trust over IP (ToIP) Foundation, an independent project to enable trustworthy exchange and verification of data between any two parties on the Internet. The ToIP Foundation will provide a robust, common standard that gives people and businesses […]
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Security

OFX Joins Financial Data Exchange to Accelerate Financial Data Sharing Standards

“In an important step toward establishing a single interoperable industry standard for financial data sharing, the Open Financial Exchange (OFX) will join the Financial Data Exchange (FDX) effective immediately. With this milestone, the industry continues to align around the FDX standards, which spell out how consumer-permissioned financial data is securely shared, and clarifies the security and […]