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New Fintech Rules? The Yin and the Yang

New Fintech Rules? The Yin and the Yang

Along with all the turmoil occupying our headlines these days, comes some under-the-radar discussion of potential new rules that could affect the financial sector — or at least the financial technology or “FinTech” sector. What’s happening, as Forbes recaps, is “the Office of the Comptroller of the Currency (“OCC”), a division of the U.S. Department […]

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Two Things Growing: Smart Card Use, and Retailer Resistance

Fall is usually viewed as harvest season, where the crops grown over summer are brought in and stored for winter. Some things still grow in the fall, though: artichokes, for example. Cranberries and pumpkins. In the payment news cycle this week, comes word of some additional growth: Namely that of “smart cards.” Pymnts.com notes that […]

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Pushmi-pullyu: Payments on the Coming “Internet of Things”

The “Pushmi-pullyu” is, of course, a llama-like character from the Dr. Doolittle books and films — one with heads on either end of its body. But the legendary beast may also be a symbol of how the idea of “payments” are still sorting themselves out on the coming “internet of things.” At least, according to […]

Increasingly Cashless in an Age of “Big Hacks”

Increasingly Cashless in an Age of “Big Hacks”

We never want our posts to be about hacks or data breaches two or more weeks running. But as most of us find out, when checking the climate-shifted weather reports, or reading up on the elections, the news cycle doesn’t bow to our own particular needs or desires. We had originally intended to write simply […]

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1 in 3 Hit By Hacks; U.S. Near Top Due to Slow EMV Adoption

A recent study by ACI Worldwide and the Aite Group has found that upwards of 30% of global consumers have been victims of some type card fraud in the past five years. Statistically then, this has happened to almost a third of the people reading this very article. InformationWeek’s “Dark Reading” website, which focuses on […]

Brexit Signs: How the Vote Might Affect Payment Cards

Brexit Signs: How the Vote Might Affect Payment Cards

The big financial news this week, of course, is Britain’s surprise vote to actually leave the European Union, in all the economic arrangements that came with being part of it — like visa-less travel within the EU, ease of trade among nations, etc. True, Britain has always kept its Pound, as far as currency, so […]

EMV's Slow Rollout -- Viewed from the Hudson River Valley

EMV’s Slow Rollout — Viewed from the Hudson River Valley

Last spring, around this travel-y time of year, we had just gotten back from Europe, and reported from the land of EMV use (that’s where the “E” in those initials comes from!) about how customers were adapting to inserting their cards, and perhaps signing or using PINs more often. The surprise then was to a […]

Senator Sets Sights on Slow EMV Rollout

Senator Sets Sights on Slow EMV Rollout

We’ve reported here not only on the coming of EMV standards to American debit and credit cards — those “extra” chips that create unique codes for each sale, and make financial information in “payer present” transactions — i.e., at stores like such previous hack targets as, well, Target, Home Depot, etc. (As for online financial […]

EMV Quick Chips Are Here

EMV Quick Chips Are Here

There have been various impediments to the adoption of an EMV standard here in America — that extra chip on a credit or debit card that assigns every transaction a unique code, preventing the re-use of information, while at the same time requiring a signature or PIN number for validation. Among those impediments have been […]

The SF Fed on Fintech: Payments, Banking, to Keep Evolving

The SF Fed on Fintech: Payments, Banking, to Keep Evolving

“While fintech can also improve not just the accessibility but the quality of service—something that consumers are demanding—we also need to look out for the resilience of the financial system as a whole.” The words are those of John C. Williams, President and CEO of the Financial Reserve Bank of San Francisco. And not doubt […]