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Avanti Markets Inc., a self-service solutions provider, shut down kiosks in select U.S. office break rooms that may have been compromised by malware. Forensic analysts believe the intrusion occurred July 2, 2017. Avanti alerted the FBI and issued a public statement July 4, with recommendations to those who may have been affected.
Before 2011, the term "artificial intelligence" rarely cropped up in The Green Sheet. Since then, mention of artificial intelligence (AI) has gradually increased to the point where, like the terms "fintech" and "payfac," AI appears routinely in news, views and feature articles throughout the magazine. Indeed, AI is on the rise in the payments sphere. This is evidenced by news that Mastercard intends to purchase Brighterion Inc., a software company specializing in AI.
A new study found most companies may not be ready for the European Union General Data Protection Regulation (EU GDPR), which becomes law May 25, 2018. The 2017 EU GDPR Report by Crowd Research Partners and STEALTHbits Technologies Inc. amassed data from 500 cybersecurity professionals who are members of LinkedIn's Information Security Community. Nearly 90 percent of organizations surveyed were familiar with the EU GDPR, but only 32 percent considered themselves to be compliant or nearly compliant, researchers noted.
PayPal Inc. advanced its global payment position through a series of actions completed the week of July 17, 2017. First, it finalized the acquisition of TIO Networks Corp., a cloud-based multichannel bill payment processor. Samsung Electronics Co. Ltd. agreed to add PayPal as a payment option within Samsung Pay for in-app, online and in-store purchases; and PayPal extended its partnership with Visa to European businesses.
Visa launched an initiative to unseat cash from its perch atop the payments apparatus. And that has some folks crying foul. Despite the proliferation of card-based electronic alternatives, cash remains the number one choice for consumer payments in the United States, particularly for items priced at $50 or less.
Paysafe Group plc disclosed it will pay $470 million to acquire Delta Card Services Inc., the primary holding company for Texas-based payment processor Merchants' Choice Payment Solutions. A select group of syndicators will fund the transaction, including BMO Capital Markets and Deutsche Bank, representatives stated.
In the wake of Amazon Inc.'s purchase of Whole Foods Market, grocery retailers face uncertainty regarding how the acquisition will affect the market overall and their businesses in particular. And according to new research conducted by retail management consulting firm BRP, shoppers increasingly want more from their grocery shopping experiences.
The National ATM Council Inc. directors and members met with members and staff of the Senate Banking Committee and House Financial Services Committee to address ongoing concerns about Operation Choke Point and related ATM industry issues. NAC's initiative sought to educate congressional leaders about the retail ATM sector and debunk common misconceptions about the industry.
Independent studies by Juniper Research Ltd. and Accenture PLC indicate companies are committing more resources and revenue to fighting cybercrime. These findings are consistent with predictions by leading security analysts, who have urged companies to adopt advanced technologies and automation to protect against insecure Internet of Things (IoT) and distributed denial-of-service (DDoS) attack vectors.
Interest in blockchain is growing among a range of enterprises – from major corporations to upstart innovators. But where is blockchain likely to be most useful, and how disruptive will blockchain deployments be if done prematurely? These questions were among those recently explored by analysts at Juniper Research.
EMVCo released new guidelines for Quick Response (QR) code implementation. In July 2017, the global body issued two separate standards for merchants and consumers, designed to standardize QR code functionality within EMV transaction flows.
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