Payments News

On The Web

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Security

PNC Bank to offer dynamic CVV cards to commercial customers

“PNC Bank is piloting dynamic CVV cards that use an e-ink screen on the reverse of the card to display a continuously updated three-digit CVV security code. The US-based bank plans to begin offering the cards to its Treasury Management division’s commercial cardholders in early 2019. PNC is using cards based on Visa’s Dynamic CVV2 Specification […]
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Security

Credit Freezes are Free: Let the Ice Age Begin

“It is now free in every U.S. state to freeze and unfreeze your credit file and that of your dependents, a process that blocks identity thieves and others from looking at private details in your consumer credit history. If you’ve been holding out because you’re not particularly worried about ID theft, here’s another reason to […]
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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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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 […]

On The Wires

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Security

Whitepages Pro Introduces Transaction Risk API

“The predictive identity data features included in Transaction Risk API are leveraged in models, alongside internal company data, to provide an additional layer of identity verification for real-time risk reduction at scale. In under 100 milliseconds (ms), the core identity data elements of email, IP, phone, address, and name are scored to return a concise […]
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Security

Financial Industry Unites to Enhance Data Security, Innovation and Consumer Control

“Financial institutions, fintech firms and industry groups announced the launch of the Financial Data Exchange (FDX), a non-profit organization to unify the financial sector around the secure exchange of financial data. FDX will address common challenges around the way the industry shares consumer account information to enhance security, innovation and consumer controls. FDX is a subsidiary […]
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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 […]