Recently publicized data breaches are impacting the operations of financial institutions, according to a recent survey by ACI Worldwide. The survey of financial industry professionals was conducted in March 2014 at BAI Payments Connect and reports that 44 percent of customer accounts have been compromised. • 44 percent of customer accounts have been compromised •
In a speech delivered at the China Development Forum, Ajay Banga, president and CEO of MasterCard, recognized the growth of financial access within the country over the past 30 years and highlighted the critical role financial inclusion plays in the continued development of the Chinese economy. This is the fourth year that Banga has attended
The National Retail Federation has expressed disappointment in a court decision that will keep the Federal Reserve’s cap on debit card swipe fees at 21 cents rather than reducing it to a lower level. “NRF is disappointed and remains confident that the Federal Reserve erred when it set the swipe fee cap far higher than
MasterCard has announced a new initiative to help smaller merchants create efficiencies in their operations by accepting electronic payments. The effort combines changes to the company’s U.S. region rules with best practices and insights developed from conversations with smaller merchants. The new standards deliver greater transparency and value to smaller business owners. In the standard,
Thames Card Technology Ltd (TCT), a manufacturers of secure and non-secure plastic cards, has won a tender to be the supplier for the production, personalisation and distribution of one million EMV chip payment cards for Ghana Commercial Bank (GCB Ltd.). Thames will also offer its portfolio of consultancy services to support GCB Ltd. in its
hyperWALLET Systems Inc., a payments provider, has announced that Karrot has launched hyperWALLET’s branded prepaid card services to provide a unified payment solution for its loyalty and reward payment solutions. Karrot, a Chicago based company, provides online loyalty and reward program solutions for a wide variety of companies. With a deep understanding about the impact
Fiserv, Inc., a provider of financial services technology solutions, has announced an agreement to make Visa’s common debit EMV solution available for the Accel debit network. Under the agreement, Fiserv will adopt Visa’s common debit solution offering issuers, acquirers and merchants a simple, streamlined approach for debit EMV adoption. The agreement will help enable the
The EMV Payment Tokenisation Specification – Technical Framework v1.0 has been published by EMVCo. The technical document – which will be of interest to all industry participants including merchants, acquirers, card issuers and new payment entrants engaged in the mobile and digital secure payment ecosystem – is designed to allow market implementers to develop interoperable
Fiserv, Inc. and MasterCard have announced an agreement to make MasterCard’s U.S. common debit EMV solution available for the Accel debit network. Under this agreement, MasterCard issuers receive flexibility to select and implement network relationships, while merchants and acquirers will continue to route transactions as they prefer, without introducing multiple applications and complicated technology upgrades.
Datacard Group, a provider of secure ID and card personalization solutions, has announced its continued commitment to educate and consult financial institutions on EMV migration. The company, along with its partners – Visco (Cambodia) Joint Stock Co., Ltd in Cambodia and Omega Computer Corporation in Philippines – will conduct two half-day EMV seminars. Ideal for
