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The European Commission says it will extend the SEPA migration deadline for the introduction of  new faster and cheaper intra-bank payments systems for six months following delays in some EU member states. The Single Euro Payments Area is meant to speed up payments and so reduce business and consumer costs by ensuring standard conditions, rights and [...]

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Amid further uncertainty for virtual currencies, there are fresh reports that India’s largest bitcoin exchange, BuySellBitCo.in, has been forced to shut after the country’s central bank issued a statement warning about the risks of using virtual currencies. The Reserve Bank of India says that bitcoin and its imitators have no regulatory approval and that people [...]

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A new white paper has been announced titled “EMV is Not Enough: Considerations for Implementing 3D Secure.” The paper considers the impending US EMV migration to Europay, MasterCard and Visa (EMV) chip to combat fraud, but concludes that there are additional steps issuers must consider to mitigate fraud risk. The report concludes that there are [...]

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Banks, credit card companies and other payment service providers (PSPs) should put multiple “security measures” in place to ensure that they can repel attempts to breach the integrity of internet payment systems, the European Central Bank (ECB) has recommended. The 14 recommendations cover all payments in which mobiles are used to initiate a transaction, whether [...]

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Microsoft have issued a warning to the Indian banking industry suggesting the entire industry could be facing meltdown as new research claims over 34,000 publicly-funded bank branches are still reliant on Windows XP – for which the company will cancel support in early 2014. The report from Ascentius Consulting revealed that XP penetration in the [...]

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