Payments News

On The Web

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Security

Banks Have a Solution for Their Identity-Fraud Woes: The DMV

“Big banks are enlisting the local DMV in their fight against identity fraud. Lenders including JPMorgan Chase & Co., Bank of America Corp. , Wells Fargo & Co. and Citigroup Inc. are looking for ways to link up with databases at state departments of motor vehicles and other government offices to make sure potential customers are who they say they are.”
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Security

What Is the Future of Third-Party Data?

“With web browsers cracking down on ad trackers, data privacy laws going into effect and data breaches remaining ever present, it is presumably not a great time for marketers to be dependent on data that they acquire from other companies. These trends give marketers incentive to use less third-party data that they obtain from companies without direct user relationships, and instead, use […]
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Global

Aadhaar verdict brings India’s banks back to square one

“Then, on Sept. 26, a five-judge bench struck down section 57 of the Aadhaar Act, which allowed corporate entities or even individuals to demand the unique Aadhaar number in exchange for goods or services. While customers are rejoicing, banks are reeling under the blow, having already spent a fortune and considerable time and effort in collecting customers’ data. […]
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Security

New Uniform Contactless ID Cards Proposed for EU

“Under the proposed new rules, identity cards will have to be produced in a uniform, credit card format (ID-1), include a machine-readable zone, and follow the minimum security standards set out by ICAO (International Civil Aviation Organisation). They will also need to include a photo and two fingerprints of the cardholder, stored in a digital […]
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Security

Canada urges blockchain on for digital ID dream

““We should be open to innovative identity verification methods like document review through a live video connection, use of blockchain, biometrics and other methods that have begun to see widespread adoption in other parts of the economy,” Parmenter comments. “These methods have the potential to prove a person’s identity more securely and accurately than showing […]
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Deals

OneLogin snares $100M investment to expand identity solution into new markets

“OneLogin is not a young startup by any means. The identity access management company was founded in 2009 and has watched while companies like Ping Identity, Duo Security and Okta had tidy exits. But as CEOs are fond of pointing out, the total addressable market is large and where investors see a chance, they take it. Today, the company announced a […]

On The Wires

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Security

PNC, GIACT® Launch New Identity Verification; Authentication Offering

“PNC Bank, National Association, announced today a strategic alliance with GIACT Systems®, the leader in helping companies positively identify and authenticate customers. By employing GIACT’s verification and authentication technology, PNC commercial clients will be armed with real-time fraud prevention tools to confirm an account is open, active and in good standing prior to initiating a […]
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Companies

Apple adds support for contactless student ID cards in Wallet

“Starting today, students at three universities are among the first to enjoy the convenience of using just their iPhone and Apple Watch to get around on and off campus. At Duke University and the Universities of Alabama and Oklahoma, students can now add their ID card to Apple Wallet and use it to pay quickly […]
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Security

Mastercard, Microsoft Join Forces to Advance Digital Identity Innovations

“This initiative will serve as the foundation for new Mastercard services powered by Microsoft Azure and built in collaboration with leaders in the banking, mobile network operator and government communities. Microsoft and Mastercard are bringing together their respective strengths – Microsoft’s expertise in identity technology and Mastercard’s expertise in securely orchestrating digital interactions in a […]