Payments News

On The Web

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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

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 […]
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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 […]
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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

EU Court Blocks Data Pact Amid Fears Over U.S. Surveillance

“The European Union ’s top court struck down a key method used by Facebook Inc. and other companies to transfer data across the Atlantic amid fears over potential U.S. surveillance. Thursday’s decision by the EU Court of Justice on the so-called Privacy Shield means thousands of businesses that ship commercial data to the U.S. risk […]
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Security

Payment App Data Breach Exposes Millions of Indians’ Data

“A major data breach at mobile payment app Bharat Interface for Money ( BHIM ) has exposed the personal and financial data of millions of Indians. The breach occurred after BHIM failed to securely store vast swathes of data collected from users and businesses during a sign-up campaign. On April 23, researchers at vpnMentor made […]

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 […]