Page 10 - GS200101
P. 10

NewsBriefs






        Following are excerpts from news stories recently posted under Breaking Industry   PayPal sues CFPB over prepaid card rules
        News on our home page. For links to these and other full news stories, please visit
        www.greensheet.com/breakingnews.php?flag=previous_breaking_news.   PayPal is asking a federal court to deep six the
                                                                        Consumer Financial Protection Bureau's prepaid
                                                                        card rule. In a lawsuit filed in U.S. District Court
                                                                        for the District of Columbia on Dec.11, 2019, PayPal
                                                                        asserted that the prepaid rule is riddled with
                                                                        flaws.

                                                                        Chief among those flaws are required disclosures
                                                                        that violate the company's constitutional rights,
                                                                        the payments company claimed. PayPal has taken
        Simplified P2PE may broaden merchant adoption                   issue with requirements that consumers using
                                                                        its Venmo digital wallet be provided a "short
        An updated PCI Point-to-Point Encryption (P2PE) Standard will   form" disclosure that references fees for ATM
        simplify P2PE procedures, according to the PCI Security Standards   balance inquiries, customer service, electronic
        Council (PCI SSC). Positioned as part of the council's broader effort   withdrawals and other activities.
        to evolve standards and validation programs, PCI P2PE version 3.0
        is designed to appeal to diverse payments industry stakeholders,   New year to ring in new fraud, experts warn
        workplace environments, technologies and methodologies, PCI
        SSC representatives stated. Troy Leach, PCI SSC senior vice     Security analysts are advising companies to harden
        president, emphasized the council's commitment to making its    their security postures in the new year. Fraudsters
        security standards, programs and resources accessible to a wider   and fintechs are innovating, borrowing from each
        audience.                                                       other's  playbooks  to  weaponize  solutions  that
                                                                        alternately compromise or protect data.

                                                                        Forensic investigators have seen increasingly
                                                                        dynamic and sophisticated strains of malware,
                                                                        ransomware and money laundering attacks. These
                                                                        new attack vectors require an equally strong and
          We’re More Than an Authorization                              proportional response from cybersecurity firms,
                                                                        experts noted.
            We’re The Best Solution For You and Your Merchants
                                                                        Cracking down on free trials

                                                                        The card brands are cracking down on free
                                                                        trial subscriptions. Mastercard disclosed new
                                                                        rules requiring businesses to obtain cardholder
                                                                        approval before they bill those customers for
                                                                        recurring deliveries of products or services after
                                                                        a free trial period ends. Visa devised similar rules
                                       RETAIL/POS  DEVELOPERS
                                                                        to take effect in April 2020. The changes aim to
                  eCOMMERCE                                             streamline processes for subscriptions that feature
                                                                        a free trial or introductory offer, to improve
                                                                        transparency on billing terms and support easier
                                                                        cancellation for customers.
                                                                        Color blind gain access to digital banking
                                        MOBILE     QUICKBOOKS
               Plus ePN offers customized, versatile services           i2C Inc. launched a digital banking website and
                     to help you support your business                  mobile app Dec. 23, 2019, designed to provide
                                                                        color blind customers access to web and mobile
          EMV • Level III • Inventory • CDM • QuickBooks • Bill Pay • Recurring Payments
                                                                        banking services. The company's website and
            Through our ePN Partnership, ISOs/MSPs will experience:     mobile banking app are the newest additions to
              •  No fee, lead distribution                              its global software-as-a-service platform.
              •  FREE online documentation, development test account, and sample code for
                experienced developers                                  Approximately one in 12 men and one in 200
              •  FREE brandable marketing materials through our Reseller Support Center  women worldwide can see clearly but are unable
             (800) 296-4810 • eProcessingNetwork.com                    to identify red, green or blue colors, according to a
                                                                        2018 study published in the International Journal of
           © eProcessing Network, LLC. All Rights Reserved. All trademarks are the property of their respective holders.
                                                                        Interactive Mobile Technologies.
        10
   5   6   7   8   9   10   11   12   13   14   15