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The Green Sheet Online Edition

September 24, 2018 • Issue 18:09:02

News Briefs

Editor's Note: Following are excerpts from news stories recently posted under Breaking Industry 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.

Faster payments growing, NACHA poised to help

The U.S. market is moving closer to a faster payments environment. A new report from Mercator Advisory Group projects $255 billion will be sent this year via faster payments initiatives available in the U.S. The projection represents just a fraction of total payments – in 2017 the top five card acquirers in the United States saw nearly $4 trillion in credit and debit card payments; ACH payments topped $46 trillion.

PCI SSC unveils new security guides for SMBs

The PCI Security Standards Council recently unveiled the PCI Data Security Essentials Evaluation Tool. Council members said the solution is designed to simplify security for small business owners. Citing Verizon's 2018 Data Breach Investigation Report, the council said small and midsize merchants accounted for 61 percent of all data breaches in 2017.

Mobile payments shifting to software-based biometrics

The biggest shift in mobile payments security over the next five years will be toward software-based biometrics, according to Juniper Research. A new report from the research and analytics firm predicts smartphone users relying on biometric security will balloon by 250 percent between now and 2023, when the total will exceed 1.5 billion users worldwide.

Road to security paved with self-regulation, ETA says

The new Electronic Transactions Association's Self-Regulation Program is the ETA's latest bid to formalize best practices across diverse service providers. The global trade association designed the initiative to improve security and reduce risk by officially recognizing companies that adhere to industry best practices. Jason Oxman, CEO of the ETA, has long avowed that payments industry stakeholders are principled technology providers that go above and beyond minimal compliance standards.

Toshiba, Ingenico to launch co-branded retail solution

Ingenico Group recently participated in a joint presentation with Toshiba Global Commerce Solutions at Toshiba's annual partner conference. The event showcased innovative trends in consumer behavior and commerce technology from new entrants and leading global brands. During the conference, Toshiba and Ingenico disclosed near-term plans to launch a co-branded retail solution, following a lengthy discovery process.

Mobile banking startup snags fintech bank charter

The Office of the Comptroller of the Currency, the Treasury Department agency that oversees national banks, announced in late July that would begin accepting applications for "special purpose" charters from fintech firms. Just over a month later, Varo Money Inc. announced it had received a preliminary okay for an OCC charter, putting Varo Bank N.A. on track to become the first all-mobile national bank in the country. end of article

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Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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