Equifax fine punches a hole in data security culture
Payments Source
JULY 22, 2019
The timing of the settlement serves as a warning to other companies of the risks they face in an increasingly data-focused economy.
What is a BIN in Payment Processing
Clearly Payments
NOVEMBER 13, 2024
Settlement : If approved, the funds are settled, and the payment processor ensures that the money is transferred to the merchant’s account. Payment processors typically must apply for membership and meet the network’s standards, including security, compliance, and transaction volume criteria.
Process 
104
104 Join 5,000+
Insiders
Sign Up for our Newsletter
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Trending Sources
What is a Payment Processing System and How Does It Work?
Stax
MARCH 18, 2025
Funds are settled and deposited into the merchant account – Once the transaction has been approved, the funds are deducted from the customers account and deposited into the merchant account or payment service provider account after settlement. Security is the core of any payment processing system.
Process 88
88 
Key considerations for the adoption of digital currencies
Finextra
JUNE 30, 2025
They will need to co-exist with existing clearing and settlement processes and infrastructures, and this means interoperability is crucial. The DLT network provides a highly secure and reliable platform for the exchange of the digital currency as part of clearing and settlement. billion in April. Let’s explore.
What Is a Clearinghouse and How Does It Facilitate Safe Transactions?
EBizCharge
DECEMBER 18, 2024
A clearinghouse is an intermediary organization that facilitates the settlement of transactions, ensuring the accurate and efficient exchange of money, securities, or data between parties in financial or other transactional systems. This benefits buyers and sellers by providing quicker settlements.
Facilitators 52
52 
The Journey of Payments and Clearing Systems in India
Finextra
JUNE 11, 2025
Clearing houses, often managed by the RBI or lead banks, facilitated the physical exchange and settlement of cheques. Real-Time Gross Settlement (RTGS) (2004): A major leap forward, establishing a robust system for large-value, real-time interbank fund transfers, enhancing systemic efficiency and reducing settlement risk.
Announced at Singapore FinTech Festival 2024: New Partnerships, Product Launches and Appointments
The Fintech Times
NOVEMBER 6, 2024
“This innovative solution represents our commitment to providing a simple, convenient, and secure way for consumers to pay,” said Adeline Kim , country manager for Singapore and Brunei at Visa. “Based on our biometrics study, close to seven in 10 Singapore consumers see this as a secure way to pay.
Product 101
101 
FTC Settles With Two Websites Over Lack Of Consumer Data Security
PYMNTS
APRIL 25, 2019
This led to a security breach that compromised the data of approximately 2.1 As part of the settlement with the FTC, i-Dressup and its owners have agreed to pay $35,000 in civil penalties, and are prohibited from violating COPPA. million users, including around 245,000 users who indicated they were under 13.
FTC 53
53 
BIS Introduces Project Aperta for Secure Cross-Border Data Sharing in Finance
Fintech News
OCTOBER 17, 2024
The Bank for International Settlements (BIS) has launched Project Aperta , an initiative aimed at improving open finance interoperability, reducing frictions, and cutting costs in global finance. These differing standards hinder cross-border data flow.
Cross-Border 117
117 
Looking for the Best Payment Gateway? Here’s How to Choose the Right One
Stax
JANUARY 21, 2025
Consider the following security and compliance features when choosing a payment gateway: PCI DSS Compliance – The Payment Card Industry Data Security Standard (PCI DSS) is a set of rules and principles designed to keep payment card information safe and secure. This is known as the settlement time.
Open Banking is the Key to Facilitating Better Payments: Eviden, Ordo and ByzGen Launch New Offering
The Fintech Times
DECEMBER 12, 2024
Staying on top of bills Evidens AI platform proactively monitors customer bank account data to recommend the most appropriate payments frequency during any given month, this could be one or multiple monthly payments, helping customers stay on top of their bills with realistic options.
Facilitators 72
72 
Ripple Selects Chainlink Price Feeds to Bring Pricing Data for its USD Stablecoin Onchain
The Fintech Times
JANUARY 10, 2025
Ripple says that stablecoins offer an opportunity to redefine how businesses and consumers engage in financial transactions, by enabling low-cost, instant settlement of local and cross-border payment transactions. ” Ripple revealed that it chose Chainlink Price Feeds after reviewing various Oracle solutions. .”
Stablecoins 64
64 
Macro Global and Trust Payments Expand Strategic Partnership to Offer Transformative Cross-border Payment Experience
Fintech Finance
OCTOBER 16, 2024
This collaboration brings together Macro Global’s expertise in cross-border payments technology with Trust Payments’ cutting-edge acquiring solution and the TRU Connect Payment Gateway , delivering a superior customer experience by providing timely and accurate card-based money transfers with robust data security at its core. “We
Uber Agrees To Pay $145M Fine To Settle Data Breach Lawsuit
PYMNTS
SEPTEMBER 26, 2018
26) that they have reached a settlement with Uber Technologies Inc., in which Uber will pay $148 million to resolve allegations that it violated state laws pertaining to data breach reporting. The company failed to safeguard user data and notify authorities when it was exposed.
Data Breach 69
69 
The Anatomy of a Credit Card Transaction
Clearly Payments
MARCH 14, 2025
A credit card transaction is a process involving multiple entities, complex technology, and rigorous security protocols. It occurs in a matter of seconds but consists of multiple stages, from authorization to settlement. Tokenization : Converts sensitive card data into a unique token, reducing the risk of data breaches.
Credit Cards 52
52 
Equifax nears $700 million settlement of probes into data breach
Payments Source
JULY 19, 2019
The agreement with authorities including the Federal Trade Commission and state attorneys general — and possibly the Consumer Financial Protection Bureau — may be announced as soon as Monday.
Credit Card Processing for Small Business: Everything You Need to Know
Stax
NOVEMBER 21, 2024
It also ensures that data security best practices, particularly PCI DSS (Payment Card Industry Data Security Standards) requirements , are followed to the letter to prevent any breach or loss of sensitive customer data. It serves as a link between your website and your payment processor.
Credit Cards 88
88 
ID-Pal and CLOWD9 Enter Global Strategic Partnership to Revolutionise Payment Processing
Fintech Finance
SEPTEMBER 17, 2024
CLOWD9, a B-Corp certified issuer processing platform, sits at the centre of the global payments system, acting as the interface between banks, FinTechs and payment firms to authorise transactions and initiate payments, maintain the system of record for cardholder data, and provide settlement instructions.
Process 95
95 
Lucinity secures patent for federated learning AI, enabling secure data sharing
The Payments Association
SEPTEMBER 27, 2024
The design of the patented technology was born out of Lucinity’s research and development division, Lucinity Labs, which had been looking for a way to strengthen the financial services ecosystem while complying with data-sharing laws. The biggest thing holding back the adoption of advanced AI systems is the global concern over data security.
Security 88
88 
Neiman Marcus Agrees To Pay $1.5M To Settle Payment Card Breach
PYMNTS
JANUARY 9, 2019
. “Businesses that collect and hold consumers’ payment card data have a responsibility to make sure that data is protected from hackers,” said Frosh. This settlement requires Neiman Marcus to bolster its protection of consumers’ information to prevent a breach like this from reoccurring.”. In addition to paying the $1.5
Breach 63
63 
The Ultimate Guide to Online Payment Processing
Stax
MARCH 11, 2025
Encryption and transfer of payment information The payment gateway that underpins your checkout page will now encrypt the customers payment details as stipulated by industry data security regulations like PCI DSS (Payment Card Industry Data Security Standard) before transferring the data to your payment processor.
How Merchant Services Contracts Work in Payment Processing
Clearly Payments
MAY 2, 2024
Funding and Settlement Period : This section details when the funds from transactions will be deposited into your bank account. Also ensure you review any fees for settlement. PCI Compliance Fees : To comply with the Payment Card Industry Data Security Standard (PCI DSS) , processors might charge a fee.
Process 105
105 
CLOWD9 Integrates ID-Pal Into Payment Verification Process
The Fintech Times
SEPTEMBER 19, 2024
The partnership will see ID-Pal provide CLOWD9 with identity verification processes during the payment transaction ensuring users’ data is kept safe. It will also see CLOWD9 utilise ID-Pal ‘s tech to ensure its own data security is up to date too. It authorises transactions and initiates payments.
Verification 64
64 
G+D Filia® Unplugged Brings Offline Capability to Digital Payments
Fintech Finance
JULY 4, 2024
The Bank for International Settlements (BIS) defines offline payments as the transfer of a digital money token between devices that takes place without the payer and payee requiring a networked connection to any ledger system or backend system to complete the payment. billion unbanked people worldwide.
NMI Partners With INIT to Revolutionize the San Diego Transit System With ‘Tap-On/Tap-Off’ Contactless Payments
Fintech Finance
SEPTEMBER 20, 2024
INIT used NMI’s straightforward API to embed the NMI Gateway into its transport ticketing solution to establish a secure and efficient ‘open loop’ system. When a passenger ‘taps on’, the NMI Gateway processes initial authorization and card tokenization, as well as subsequent authorization and settlement at ‘tap-off.’
India Google Pay Users Can Now Buy 24-Karat Pure Gold
PYMNTS
APRIL 11, 2019
. “Google Pay operates as a technology service provider to its partner banks, to allow for payments through the UPI (Unified Payments Interface) infrastructure, and is not part of payment processing or settlement. Google also said it was aware of data security and that it was serious about following the law.
Tokenisation 2.0: Are we ready for the next generation of payment security?
The Payments Association
JUNE 3, 2025
Moreover, network tokenisation reduces the regulatory burden by eliminating the need to store sensitive card data, supporting the Payment Card Industry Data Security Standard (PCI DSS) compliance and lowering the risk of data breaches.
Security 88
88 
On-Demand – The final countdown: What’s next for Verification of Payee?
Finextra
JUNE 12, 2025
As implementation progresses, financial institutions are grappling with data security, core banking change, and ensuring all-channel implementation of VOP. However, it is not only the technical implementation challenges that institutions are facing.
Payee 52
52 
Choosing the Right Payment Gateway for Your Specific Business Needs
My Payment Savvy
JUNE 16, 2025
It collects payment data, secures sensitive information, and connects all parties needed to move money from your customer’s bank to yours. Unlike payment processors, which handle backend money transfers, payment gateways focus on securely capturing payment methods.
Accepting Online Payments with Internet Merchant Accounts
EBizCharge
NOVEMBER 27, 2024
The gateway acts as the intermediary that collects, encrypts, and transmits transaction data to the payment processor. This integration ensures a seamless and secure transaction flow. Transaction settlement: After a payment is authorized, the merchant account facilitates the settlement process.
Accounts 52
52 
Deep Dive: Mastercard’s Shift - From Plastic to Platforms
Finextra
JUNE 14, 2025
Every time you tap or swipe a Mastercard, the company earns fees by routing the transaction through its network and facilitating authorization, clearing, and settlement between the merchant’s bank and the cardholder’s bank. This fundamental network model (shared with its main rival Visa) has proven enormously scalable and resilient.
Visa 52
52 
Blockchain Tracker: Prizes And Regulations, Do They Mix?
PYMNTS
OCTOBER 12, 2016
The basis for blockchain technology is something that works well in practice, but not in theory,” said Luther Martin at HPE Security-Data Security. That close attention means through a working group specifically focused on payments and settlements and on a research-oriented approach related to other market applications.
Blockchain 77
77 
Eviden and Ordo Launch Open Banking Solution to Revolutionize Bill Payments
Fintech Finance
DECEMBER 12, 2024
Evidens AI platform proactively monitors customer bank account data to recommend the most appropriate payments frequency during any given month, this could be one or multiple monthly payments, helping customers stay on top of their bills with realistic options.
Payments 98
98 
Everything You Need to Know About Credit Card Processing
Stax
NOVEMBER 14, 2024
Mitigating Delays in International Settlement Times Cross-border transactions can take longer to process than domestic ones due to currency conversions, regulatory checks, and additional verification steps. Some payment processors offer expedited international settlement options to help merchants avoid lengthy wait times.
Credit Cards 88
88 
All You Need to Know About Internet Credit Card Payment Processing
Stax
MARCH 5, 2025
Security Its a given to have a provider that protects cardholder data in this digital age. PCI DSS , which stands for Payment Card Industry Data Security Standards, are the standards put in place to make sure payment data is securely processed, transmitted, and stored.
Industry Statements on on Merchant, Payment Network Lawsuit Agreement
Electronic Payments Coalition
MARCH 26, 2024
26, 2024– After nearly 20 years of litigation, Visa (NYSE: V) today announced it has agreed to a landmark settlement with U.S. The settlement also provides updates to several key network rules giving merchants more choice in how they accept digital payments. The settlement will reduce credit interchange rates for U.S.
Agreements 52
52 
FTC Submits Progress Report To The Senate
PYMNTS
SEPTEMBER 27, 2016
The testimony summarized the consumer protection cases and permanent injunctions that the FTC has presided over and cited the Volkswagen settlement that resulted in $10 billion of consumer compensation. Also included in the testimony were the commission’s efforts to protect consumers’ privacy and data security.
FTC 63
63 
How To Integrate a Payment Gateway into Salesforce
EBizCharge
APRIL 24, 2025
Increased security and compliance: Reputable Salesforce payment integrations are designed with strong security protocols and compliance with Payment Card Industry Data Security Standards (PCI DSS). These insights help merchants make smarter business decisions and spot potential issues or opportunities early.
What Is the Role of Merchant Acquirers in Credit Card Processing?
EBizCharge
AUGUST 12, 2024
Put simply, merchant acquirers focus on merchant relationships and transaction settlement, while card issuers focus on cardholder accounts, and payment processors ensure smooth data transmission between all parties involved. If approved, the merchant completes the sale.
Credit Cards 52
52 
NetSuite Payments: Your Guide to Processing Credit Cards
EBizCharge
FEBRUARY 26, 2025
NetSuite automates key aspects of the payment process, including authorization, capture, and settlement, reducing manual effort and minimizing errors. Additionally, it includes security features such as tokenization, encryption, and fraud prevention tools to ensure compliance with Payment Card Industry Data Security Standards (PCI DSS).
Credit Cards 52
52 
Understanding Credit Card Processing Fees for Merchants: How Much Does Processing Credit Cards Cost?
Stax
APRIL 18, 2024
Processor: An entity responsible for handling transaction data between the merchant, acquiring bank, and card networks. They often provide services such as authorization, clearing, and settlement. Step 3: Settlement With the authorization code in hand, the merchant proceeds with the transaction.
Credit Cards 88
88 
Understanding Visa Rules
Payment Savvy
MAY 11, 2023
Security: Visa has strict security requirements to protect cardholder data and prevent fraud. As a merchant, you will need to comply with the Payment Card Industry Data Security Standard (PCI DSS) and other security regulations to ensure the safety and security of Visa transactions.
Rules 52
52 
Unimarket Enhances Spend Management Platform with AP Payments as a Service
Fintech Finance
MAY 1, 2024
The post Unimarket Enhances Spend Management Platform with AP Payments as a Service appeared first on Fintech Finance.
Recurring Billing: Definition, How it Works, and Best Practices
Stax
MARCH 6, 2024
The role of payment gateways in recurring billing Payment gateways play a crucial role in the recurring billing process by securely processing and managing the transactions between customers and businesses. These standards ensure that customer payment information is handled securely and that transactions meet legal requirements.
Let's personalize your content