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ONLY FIVE PERCENT of banks and other financial institutions are aware that the revised Directive on Payment Services (PSD2) will require open access to customer accounts, according to a UK law firm TLT’s Digital Banking report. This is despite 67 percent stating that they were well prepared for PSD2. Post-Brexit, some UK banks may have been [...]

The post FIS UNAWARE OF CUSTOMER ACCOUNT ACCESS OBLIGATIONS UNDER PSD2 appeared first on Payments Cards & Mobile.

When the Payments Card Industry Data Security Programme (PCI-DSS) was first introduced in 2004, the move was in response to a series of breaches that demonstrated how exposed credit and debit card information could be at retailers, large and small, that hadn’t properly considered cyber security. The standard, which has been widely criticised as a [...]

The post Retail malware: PCI-DSS is part of the problem appeared first on Payments Cards & Mobile.

The major US card issuers have undertaken a wave of mass credit and debit card reissuance following the Target data breach in late 2013 which affected around 40 million credit and debit accounts and up to 110 million consumers. The sheer scale of the Target breach has led issuers to flip their fraud prevention strategies [...]

The post Mass card reissuance underway after Target breach appeared first on Payments Cards & Mobile.

Jackie Barwell is head of product at fraud prevention specialist, ReD. In a fraud prevention career spanning almost 30 years, Jackie has worked for a variety of payments organisations, consistently promoting the importance of collaboration in the fight against fraud. For many years, merchants, issuers, acquirers, processors and service providers have talked about creating a [...]

The post Cross-industry collaboration: the key to closing the doors on fraud appeared first on Payments Cards & Mobile.

Paul Asare-Archer is head of compliance at Telefonica Financial Services UK, and money laundering reporting officer at Telefonica UK. Paul Asare-Archer has an MBA and a law degree and 13 years’ experience in compliance and regulation. Having superseded the Financial Services Authority on 1st April 2013, the Financial Conduct Authority has stuck true to its [...]

The post The changing face of UK regulation and the forthcoming FCA Thematic Review appeared first on Payments Cards & Mobile.