SWIFT says that a group of banks are to trial instant gpi cross-border payments in Europe using the TARGET Instant Payments Settlement (TIPS) platform. The European Central Bank (ECB) and... more
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The Eurosystem operates two systems that form the backbone of the financial market infrastructure in Europe – TARGET (the real-time gross settlement (RTGS) system for the euro) and TARGET2-Securities, or T2S (the single securities settlement platform). TARGET, launched 17 years ago, enables payment transactions to be settled immediately in central bank money and supports the [...]
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In the immediate aftermath of the Target 2013 breach, Verizon consultants probed its network for weaknesses and came back with results that point to one overriding – lesson: be sure to implement basic security best practices. In a recent KrebsOnSecurity post, Brian Krebs details Verizon’s findings as set down in a Target corporate report.The findings demonstrate [...]
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Target’s recent settlement with Visa to reimburse card issuers up to a reported $67 million for expenses related to the retailer’s 2013 data breach may pave the way for a similar revised settlement with MasterCard. And it could eventually derail banks’ pending lawsuit against retail giant. In May, banks and credit unions rejected MasterCard’s proposed $19 [...]