Beyond the Firewall: Rethinking Payment Data Security
Finextra
JUNE 13, 2025
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Finextra
JUNE 13, 2025
Please read our Privacy Policy. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Clearly Payments
JULY 23, 2025
In 2025, staying compliant with payment rules is essential for businesses of every size. Card networks like Visa and Mastercard are enforcing stricter standards, regulators are expanding privacy laws, and payment providers are under pressure to monitor merchant activity more closely. What Is Payment Compliance?
Finextra
JUNE 11, 2025
s AI Revolution 13 June David Weinstein Co-founder and CEO at KayOS Why the Smartest Fintechs Are Scaling with AI Agents – Not Headcount 13 June James Richardson Global Head of Solutions at Bottomline Beyond the Firewall: Rethinking Payment Data Security 13 June Now Hiring All companies Welcome to Finextra.
Finextra
JUNE 26, 2025
They want to know that their personal and financial data is secure. When you follow compliance rules, you reduce the risk of fraud, chargebacks, and penalties. Non-compliance, on the other hand, can lead to data breaches and legal troubles. PCI DSS stands for Payment Card Industry Data Security Standard.
Clearly Payments
NOVEMBER 13, 2024
Card Type : Specifies whether the card is a credit card, debit card, prepaid card, or other, allowing merchants to apply appropriate processing rules. Additional Data : Some BINs provide extra details, such as whether the card is for personal or business use, or if it’s part of a high-reward program.
The Payments Association
NOVEMBER 12, 2024
Vendor Dependence: Reliance on a third party for critical functions and data security. Data Privacy Concerns: Sharing sensitive data with vendors may introduce privacy and compliance risks. Armstrong identifies a prevalent belief that developing such a system is primarily about implementing a rules engine.
Finextra
JUNE 13, 2025
No outside rules. s AI Revolution 13 June David Weinstein Co-founder and CEO at KayOS Why the Smartest Fintechs Are Scaling with AI Agents – Not Headcount 13 June James Richardson Global Head of Solutions at Bottomline Beyond the Firewall: Rethinking Payment Data Security 13 June Now Hiring All companies Welcome to Finextra.
The Fintech Times
FEBRUARY 28, 2025
The use of AI in fintech has sparked concerns about data privacy and the misuse of sensitive financial information. It necessitates robust safeguards and adherence to data protection regulations. “Another big challenge is related to data security and privacy.
Finextra
JUNE 14, 2025
In essence, it provides the rails and rules that allow money to move securely between parties worldwide. Please read our Privacy Policy. Mastercard operates one of the world’s fastest payment processing networks, acting as the intermediary for electronic funds transfers on debit, credit, and prepaid cards.
Finextra
JUNE 30, 2025
Data privacy is also a concern. Banks handle sensitive customer data that cannot be simply fed into public AI models without safeguards. While there are not yet AI-specific financial regulations in force, UK banks anticipate incoming rules. Please read our Privacy Policy. Challenges U.S. In 2024, U.S.
Finextra
JUNE 12, 2025
Could VoP become the global standard for payee verification, similar to how GDPR reshaped data privacy? Verification of Payee (VOP) scheme rules have been released by the European Payment Council (EPC) to comply with the EU’s Instant Payments Regulation (IPR). Please read our Privacy Policy.
Finextra
JULY 7, 2025
Even the largest fintech players rely on colocation to scale data operations under strict privacy rules. While some may eventually build their own data centres, colocation remains a practical and agile choice for many, delivering scalability without the constraints of rigid, expensive setups.
Finextra
JUNE 18, 2025
Legacy systems are limited in their ability to handle this type of fraud due to outdated architectures, fragmented data, and reliance on rigid rule-based detection. Please read our Privacy Policy. Many systems are also still heavily reliant on manual investigation processes. Tracking fraud is another major headache.
Fintech Review
APRIL 11, 2025
As fintech platforms handle sensitive data and money, regulators must ensure transparency, fairness, and data security. Digital lenders, neobanks, and payment firms must comply with capital requirements, operational standards, and governance rules. Data privacy and cross-border standards are increasingly important.
Fintech Finance
MARCH 3, 2025
Antom , a leading unified merchant payment services provider under Ant International, has received Service Organization Control (SOC) 2 Type II certification, a globally recognised benchmark for data security and privacy protection.
The Payments Association
MARCH 18, 2025
Industry Voices The evolution from open banking to open finance and open data represents a global paradigm shift fuelled by regulatory tailwinds like PSD3 in Europe and similar initiatives worldwide. This raises profound questions around privacy, consent, data security, and liability. reached $1.1
Open Banking Excellence
JULY 8, 2025
Consumer Financial Protection Bureau (CFPB) had worked to address these regulatory gaps by developing new rules under the Dodd-Frank Act’s Section 1033. However, in mid-2025, the CFPB moved to vacate its own final rule, stating it exceeded its statutory authority. has seen a more fragmented, market-driven evolution.
Finextra
JUNE 30, 2025
This can concern payments, conditional payments (a DLT based version of a letter of credit) and the post-trade settlement of securities and derivates (including margin calls). Please read our Privacy Policy. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Nanonets
NOVEMBER 13, 2024
Real-time data syncing with existing systems for smooth automation. Strong data privacy measures, perfect for regulated industries. Hyperscience vs. Nanonets: Pros and cons Hyperscience Nanonets Pros: Advanced data extraction, including handwritten text recognition. Real-time data validation and augmentation capabilities.
Finovate
JANUARY 24, 2025
The regulatory landscape for fintechs and financial services companies operating in the European Union is expected to undergo significant changes this year, with new standards, guidelines, and rules governing payments, data privacy, digital assets, and more. What makes the EU AI Act stand out is its risk-based approach.
Finextra
JUNE 18, 2025
s AI Revolution 13 June David Weinstein Co-founder and CEO at KayOS Why the Smartest Fintechs Are Scaling with AI Agents – Not Headcount 13 June James Richardson Global Head of Solutions at Bottomline Beyond the Firewall: Rethinking Payment Data Security 13 June Now Hiring All companies Welcome to Finextra.
Payments Dive
JULY 15, 2025
By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. Deep Dive Opinion Library Events Press Releases Topics Sign up Search Sign up Search Retail Banking Restaurants Regulations & Policy Risk Technology B2B An article from Fintechs blast JPMorgan over data fees The largest U.S.
Payments Dive
JULY 24, 2025
By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. open banking rule move forward. open banking rule move forward. open banking rule. bank, JPMorgan Chase, rolled out new access fees for aggregator firms that request customer financial data. You can unsubscribe at anytime.
Nanonets
NOVEMBER 18, 2024
Product Main feature G2 rating Free trial Pricing Total score* 1 Rossum Cloud-based AI platform for data extraction 4.4/5 2 Nanonets 98% data accuracy with AI and highly customizable workflows 4.8/5 7 Docparser Rule-based data extraction from documents 4.6/5 5 No Custom pricing 43.8 5 No Custom pricing 46.3
Finextra
JULY 7, 2025
This article delves into the multifaceted reasons behind this phenomenon, exploring why organizations are choosing to keep their AI contained within the familiar confines of their data silos. The Security Fortress: Protecting Data in a Vulnerable World At the heart of this reluctance lies a deep-seated concern for data security and privacy.
Finextra
JUNE 17, 2025
s AI Revolution 13 June David Weinstein Co-founder and CEO at KayOS Why the Smartest Fintechs Are Scaling with AI Agents – Not Headcount 13 June James Richardson Global Head of Solutions at Bottomline Beyond the Firewall: Rethinking Payment Data Security 13 June Now Hiring All companies Welcome to Finextra.
VISTA InfoSec
MAY 24, 2024
In an era where digital transactions reign supreme, ensuring the security of payment card data is paramount for businesses. It helps assess and mitigate security risks systematically by identifying vulnerabilities and implementing controls to address them before they materialize. of PCI DSS.
PYMNTS
MAY 1, 2020
have passed laws or implemented programs over the past two years to put more focus on digital banking and data security, fundamentally changing how online transactions work. This also makes data security critical, though, because banks must protect growing volumes of personal information. and the U.S.
PYMNTS
MARCH 6, 2019
The Federal Trade Commission (FTC) has requested comment on the proposed amendments of two rules that protect the privacy and security of customer data held by financial institutions (FIs). The proposed changes are related to the Safeguards Rule and the Privacy Rule under the Gramm-Leach-Bliley Act.
PYMNTS
MARCH 30, 2020
California Consumer Privacy Act (CCPA), Washington Privacy Act (WPA) and other new privacy and online transaction standards are changing how businesses interact with consumers’ data in the U.S. Privacy conversations are old hat for retailers, Ahrens noted.
VISTA InfoSec
JULY 17, 2024
Overcoming language barriers and security vulnerabilities Talking to people in a language they understand makes it easier for them to follow security rules. Each word in your security plan needs to fit perfectly into every language you’re using. Use stories from real life to show why security is important.
PYMNTS
OCTOBER 24, 2019
Mastercard is introducing a Data Responsibility Imperative to spark a conversation with other companies about data security, Mastercard said in a press release on Oct. Mastercard wants organizations to work together to heighten privacy and fend off cyberattacks.
PYMNTS
FEBRUARY 20, 2020
will no longer have access to European Union data security, instead being moved by the tech giant to American jurisdiction, according to officials, according to Reuters on Wednesday (Feb. companies, is staying in the EU and will keep some of the EU’s famously stringent data protection rules, the General Data Protection Regulation.
Payments Source
SEPTEMBER 7, 2018
British Airways may become the first high-profile company to face Europe’s far-reaching data privacy rules that come with potential fines after a computer hack compromised credit card data from some 380,000 customers.
PYMNTS
JUNE 9, 2020
The EU enacted open banking rules in 2018, inspiring regulators worldwide to reconsider how they were transacting funds or transmitting data. Data privacy and security standards are critical for regulators to address in regions such as the U.S., Australia and Canada.
The Finance Weekly
OCTOBER 15, 2023
But, there are important things to think about, like data security, ethics, rules, and biases. CFO Uncertainties Using AI in financial operations comes with certain risks, which include: Data Security and Privacy: , Protect financial data through strong security measures to maintain trust and comply with regulations.
VISTA InfoSec
JUNE 3, 2024
If your company has ever worked with businesses in European Union countries, you probably had to follow the EU’s General Data Protection Regulation (GDPR). This rule, which started on May 25, 2018, gives customers more control over their data and makes data collection and use more transparent.
PYMNTS
APRIL 12, 2019
The General Data Protection Regulation (GDPR) represented a new phase in data security and EU regulators’ approach to it. Such a scenario would leave the door wide open for data-controlling companies to send customer information to that criminal under the false pretense of regulatory compliance and data security.
VISTA InfoSec
OCTOBER 21, 2024
Overcoming language barriers and security vulnerabilities Talking to people in a language they understand makes it easier for them to follow security rules. Each word in your security plan needs to fit perfectly into every language you’re using. Use stories from real life to show why security is important.
Fi911
JANUARY 31, 2024
The financial sector operates within a web of stringent rules designed to protect consumers and maintain economic stability. The complexity of these rules demands strict adherence from AI systems. Regulation remains a concern, too. Striking a balance between innovation and responsibility should guide our approach.
PYMNTS
AUGUST 31, 2018
To take on apps that don’t give users information on the use of their personal data, Apple is introducing a new requirement: At the beginning of October, apps will have to have a privacy policy – even those that are in testing, according to reports. Starting Oct. Starting Oct.
The Fintech Times
FEBRUARY 22, 2024
Alexis Alexander , chief legal and compliance officer, Liberis explores how to employ a considered and educational approach to data privacy including traditional practices, while also accepting that there are additional considerations when it comes to embedded finance. One area to consider carefully is data privacy.
Fintech Review
FEBRUARY 13, 2024
It’s crucial for regulators to enforce stringent standards for data security and privacy to ensure consumer protection. Fintech companies should be held to high standards regarding how they manage and protect consumer data to prevent misuse and abuse.
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