In the wake of U.S. sanctions in response to Russia’s annexation of Crimea, Russian President Vladimir Putin has called for the creation of the country’s own payment system to rival Visa and MasterCard. Both American credit card companies stopped processing transactions for customers of Bank...
Wal-Mart Stores Inc., which made a name for itself in the payments industry almost two decades ago when it led a class-action lawsuit challenging the “honor-all-cards” and debit card interchange policies of Visa and MasterCard, is at it again. The mega-retailer this week filed a...
MasterCard has appointed Anna Yip as head of its Hong Kong and Macau operations. Yip will develop MasterCard’s strategy for local markers and promote strong business alliances with customer financial institutions in the region, according to The Asset. Before joining MasterCard, Yip was a managing...
VoiceVault has announced the launch of ViGo, its first, exclusively mobile, biometric platform. “Because hundreds of millions of people use their smartphones or tablets for both business and personal applications, there is very large demand for strong, but simple, log-on or activation,” Dan Miller Sr.,...
Bitcoin collecting and use just got a lot more complicated, thanks to a March 25 IRS notice classifying bitcoins as property and not currency. As such, it imposes a huge record-keeping burden on anyone who is dealing in bitcoins. According to the IRS, general tax...
A cash-payment kiosk system for marijuana sales has been developed by Kansas City, Mo.-based software company Agrisoft and C4EverSystems LLC, according to a report in the Kansas City Business Journal.
Cybersecurity and debit represent the two major common themes as it relates to recent regulatory attention globally, a top official at Visa noted in a recent analyst discussion. During the discussion with Morgan Stanley analysts, Byron Pollitt, Visa’s chief financial officer, said the company is...
The following is based on remarks made by David S. Evans at the New York Federal Reserve Board-New York University Conference on Regulating Consumer Financial Products, January 6, 2010, New York, NY. Let’s begin with a puzzle raised by the previous session on who should regulate consumer protection....
The European Central Bank (ECB) has approved a guide for payments security assessments being conducted within in the eurozone. The guide helps those planning to tighten point-of-sale security, shore up authentication technologies and provide additional security measures for stored consumer data, according to a Feb....
