With the COVID-19 health pandemic wreaking havoc on jobs, investments, consumer debt and lending, secured credit cards can address a vital need for people who may not have considered the product in the past.
Identity fraud holds no prisoners when it comes to payments. If a fraudster gets hold of a consumer's credentials, everything from mobile wallets, to a checking account, savings account or P2P account is in jeopardy of takeover.
Even though the General Data Protection Regulation has put data security and privacy top of mind throughout Europe in its first year, it is not likely the U.S. will see a similar federal mandate anytime soon — if ever.
After more than two years of successful operation in delivering Same-Day ACH payments, Nacha's request to add a third processing window has been delayed by the Federal Reserve, which says it has to obtain public comment on the concept.
There's never a good time to expose customer data, but the incident Amazon disclosed Wednesday could upend two major events: Black Friday/Cyber Monday and a reported effort to get merchants to accept Amazon at the point of sale.
In the ever-changing era of cyber threats against payment and personal data, it is dangerous for companies or financial institutions to spend a lot of time or money establishing defenses only against external threats.
An organized crime ring in Eastern Europe has orchestrated sophisticated cyber and physical attacks that have drained millions of dollars from banks in Russia, and FIs in other countries could be targeted next.
The simple act of moving money can have a big impact on any political movement, so banks and payment networks are often caught up in issues of national importance. Here are some recent instances where payments and politics came head-to-head.