Agile Payments

MAY 19, 2021

The rule requires the originators (and third party service providers) to protect bank account information unreadable when it's stored electronically. Basically, the sensitive bank account data needs to be tokenized.

ACH Origination 88

ACH Origination Origination ACH Data Security 88

Innovative Payments Association

JULY 25, 2024

By allowing third-party financial service providers to access consumer banking data through APIs, open banking has the potential to create a more competitive and innovative financial ecosystem.

Boot Camp 52

Boot Camp Compliance Innovation Third-Party Service Provider 52

The Fintech Times

NOVEMBER 5, 2024

The amendments also require obtaining customer consent and authentication, licensee disclosures, and reporting API performance by service providers. The news comes after the Central Bank of Bahrain (CBB) updated its Open Banking Framework (OBF), mandating all licensed banks to expose APIs for corporate accounts.

Accounts 63

Accounts Third-Party Service Provider Financial Inclusion API 63

Neopay

NOVEMBER 22, 2024

These information sharing requirements include the results of testing including scenario testing and incident management playbook exercise and any action taken as a result, the annual self-assessment, and the maximum tolerable level of disruption set for each service provided to the firm.

Rules 52

Rules Third-Party Service Provider Assessments Risk Management 52

PYMNTS

JUNE 12, 2020

As more organizations migrate to an online business model, their needs from FinTechs and other third-party service providers are in flux. This week’s B2B Venture Capital roundup reflects those changing needs, with B2B fraud mitigation efforts for online businesses emerging as the funding leader.

Global Payments 57

Global Payments B2B Third-Party Service Provider Mitigation 57

Third Party Payment Processors Association

JUNE 2, 2021

Although this case is directly related to the Collections industry, it has great significance to the TPPPA members and their customers, as it threatens to link the usage of third-party service providers to consumer data privacy.

Third-Party Service Provider 40

Third-Party Service Provider Processors Privacy Service Provider 40

The Paypers

FEBRUARY 8, 2022

Switzerland-based digital payments solutions provider Netcetera has become a UnionPay certified Third Party Service provider and is fully compliant with the UnionPay card network.

Third-Party Service Provider 36

Third-Party Service Provider Acquirers Payment Solutions Digital Payments 36

VISTA InfoSec

NOVEMBER 9, 2023

Level 1 merchants and service providers, mandated by PCI SSC or customers, must complete a Report on Compliance (RoC), while others use an SAQ. Choosing the right PCI SAQ among the 10 options (9 for merchants and 1 for service providers) can seem daunting, especially with the introduction of SAQ SpoC in PCI DSS v4.0.

PCI DSS 130

PCI DSS Assessments Compliance Credit Cards 130

Payments Source

APRIL 27, 2016

An organization could go to great lengths to protect its internal network only to have all that effort undone by its third party service provider failing to take proper security measures.

Third-Party Service Provider 71

Third-Party Service Provider Checks Risk Service Provider 71

Fintech News

NOVEMBER 10, 2024

In particular, the report notes that attackers are increasingly targeting third-party service providers such as cloud storage providers, file transfer services, and remote software providers, to maximize their impact and access a larger number of customers accounts at once.

Ransomware 108

Ransomware Data Breach Scams AI 108

PYMNTS

JANUARY 14, 2020

In financial services, demand for ease of use and security are sky-high, even for business customers. But for many service providers, achieving one can often mean compromising the other. Other regulations adding weight to financial service providers’ compliance burden include Europe’s PSD2 and the U.K.’s

Security 101

Security PCI DSS Compromise Service Provider 101

The Fintech Times

JULY 5, 2024

The principles would supersede the current guidance on outsourcing in financial services with respect to the banking system. The updated principles reflect the evolution of a larger and more diverse environment of third-party service providers and would help provide a common baseline for banks and supervisors in managing third-party risks.

Consulting 71

Consulting Third-Party Service Provider Adjustments Stablecoins 71

The Paypers

JULY 28, 2020

China-based financial services company UnionPay has announced that Vaulsys will becomes a Third Party Service Provider of UnionPay International.

Third-Party Service Provider 28

Third-Party Service Provider Service Provider Payments 28

PYMNTS

JULY 27, 2020

In a blog post, Dave blamed the data breach on Waydev, a former third-party service provider. According to the FinTech, the “malicious party” gained access to user passwords “stored in hashed form using bcrypt , an industry-recognized hashing algorithm.”.

Data Breach 98

Data Breach Breach FinTech Third-Party Service Provider 98

EBizCharge

JULY 19, 2024

Yes, outsourcing payment processing to a PCI-compliant third-party service provider can help reduce your PCI scope and responsibilities. You must ensure the third party maintains compliance and appropriately manages cardholder data. Can outsourcing help with PCI compliance?

PCI DSS 52

PCI DSS Compliance Credit Cards Third-Party Service Provider 52

Fintech Finance

JANUARY 24, 2024

The RTP network was built for financial institutions of all sizes and serves as a platform for innovation allowing financial institutions to deliver new products and services to their customers. The post Mastercard and The Clearing House extend partnership on real-time payments appeared first on Fintech Finance.

Real Time Payments 52

Real Time Payments RTP Visa Instant Payments 52

PYMNTS

DECEMBER 17, 2019

Yet both of these strategies require a third-party service provider to facilitate payment processing, whether funds are coming in via check or ACH. Again, third-party service providers play an important role in alleviating ACH friction for companies. However, they persist. ACH’s B2B Future.

ACH 52

ACH B2B Third-Party Service Provider ACH Processing 52

PYMNTS

AUGUST 13, 2020

There is an array of benefits to wielding multiple cloud service providers, he said. It mitigates against the risk of a loss of service or vendor lock-in because if one service goes down, others are likely still running. Choosing the right third-party service providers can be tactical.

Third-Party Service Provider 133

Third-Party Service Provider Payments Service Provider Volume 133

PYMNTS

JANUARY 13, 2020

Also included in the findings is the fact that two-thirds of surveyed SMBs said they would not consider sharing their bank account data electronically with other financial service providers. According to reports Monday (Jan.

Third-Party Service Provider 52

Third-Party Service Provider Small Business FinTech Payroll 52

PYMNTS

JANUARY 17, 2019

The exchange’s APIs will span product offerings and service offerings such as deposits, foreign currency exchange, insurance and loan offerings — and will also include safe deposit boxes, branch and ATM services that are part of general banking operations.

API 53

API Cross-Border Payments Payment APIs and Integration Cross-Border 53

PYMNTS

APRIL 9, 2018

Payments and commerce company PaySimple announced its latest integration into a third-party service provider. Earlier this year another company, Insynq, introduced another solution for in-field service providers.

Cash Management 60

Cash Management Third-Party Service Provider Payments ACH 60

PYMNTS

DECEMBER 31, 2020

Some may take the time and effort to build direct connections into a new payment rail system while others may seek to reduce their workloads by selecting third-party service providers to facilitate that connectivity for them. Banks and CUs have options for how they make these upgrades.

RTP 67

RTP Real Time Payments Faster Payments Third-Party Service Provider 67

PYMNTS

SEPTEMBER 26, 2019

Earlier this month, we became aware of unusual activity involving a third-party service provider,” the company wrote in a blog post. “We We were subsequently able to determine that an unauthorized third party accessed some DoorDash user data on May 4, 2019.

Breach 62

Breach Third-Party Service Provider Data Breach Credential 62

VISTA InfoSec

OCTOBER 20, 2023

Establish an ePHI Communication Strategy: Create a communication plan to inform key stakeholders (like healthcare professionals, management, patients, and third-party service providers) in the event of an ePHI disaster. The plan should outline: How will communication occur?

Disaster Recovery 130

Disaster Recovery Regulatory Compliance Procedures Duplicate 130

PYMNTS

JULY 9, 2020

Under the FCA’s new rules, payment providers and electronic money issuers must maintain records of all funds received and maintain a “safeguarding account” for customer money, the news outlet reported. .

Rules 67

Rules Third-Party Service Provider Money Laundering Regulations 67

PYMNTS

AUGUST 23, 2019

The loyalty program, Priceless Specials, was operated by a third-party service provider and was shut down after the company first became aware of the breach.

Breach 61

Breach Visa Third Party Vendors Third-Party Service Provider 61

PYMNTS

DECEMBER 18, 2019

In June , Payrailz announced that it had established status as a third-party service provider to connect financial institution clients into The Clearing House’s RTP network. The company was named one of the “2019 Best Places to Work in FinTech,” a project of SourceMedia and Best Companies Group.

Visa 58

Visa Real Time Payments Third-Party Service Provider RTP 58

PYMNTS

JULY 1, 2020

“Sensitive processes performed outside of bank-owned or authorized properties and devices can increase the risk of fraud and potential for exposure of customers’ sensitive information.”.

OCC 66

OCC Compliance Risk Office of the Comptroller of the Currency 66

Basis Theory

OCTOBER 1, 2024

Third-Party Service Provider ( TPSP or "service provider") refers to an entity other than the Merchant, Acquirer, or Issuer involved in storing, processing, or transmitting card data. Today, most companies offset this effort by inheriting the compliance posture of their service provider, like Basis Theory.

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

PYMNTS

JULY 6, 2017

bank-funded entity that was mandated by the Competition and Markets Authority to provide new ways for customers to share their financial data with non-bank providers, has released an API specification for accounts and transaction information and payments initiation. Open Banking, the U.K.

Payment Initiation 71

Payment Initiation API Third-Party Service Provider Non-Bank 71

The Paypers

MARCH 18, 2016

(The Paypers) American Express has warned cardholders that their account information might have been exposed after a third-party service provider suffered a data breach in 2013.

Breach 28

Breach Third-Party Service Provider Data Breach Service Provider 28

PYMNTS

AUGUST 13, 2019

12) said Amazon’s Marketplace Appstore is now live in India, allowing sellers to access third-party applications to promote automation, business management and growth. Reports in the Economic Times of India on Monday (Aug. Businesses can access the app marketplace via the Amazon Seller Central dashboard.

B2B 55

B2B Third-Party Service Provider Automation Service Provider 55

PYMNTS

OCTOBER 9, 2019

While it’s true that smaller players lack the resources to upgrade systems to support their own enhancements to accounts receivable, auditing and process automation, he pointed to third-party service providers and banks’ own shortcomings in making better solutions more easily accessible. Failure to Act.

B2B 46

B2B Third-Party Service Provider Payments Audit 46

PYMNTS

FEBRUARY 27, 2020

Such data sharing and partnerships enable service providers to augment their products for better user experiences, and increasingly, small businesses aren’t keeping quiet about their demands for richer banking services. Open Banking Drives Challenger Bank Adoption. Enfuce Tackles Fraud In Open Banking.

Small Business 77

Small Business Third-Party Service Provider Privacy Financial Crimes 77

PayHawk

APRIL 18, 2023

The world of payment processing can be as complex as you let it be, but, one this is for certain, there are thousands of terms that merchant service providers discuss, and oftentimes, merchants are left clueless about their meanings. A Acquirer The financial institution that processes payments on behalf of merchants.

Process 52

Process Card Issuer Online and Mobile Banking Issuers 52

PYMNTS

AUGUST 28, 2018

Debitum emphasized that it is not looking to compete directly with traditional financial service providers, but rather to enhance the existing small business finance market. “We The company issued a press release Monday (Aug. 27), revealing tests completed in front of members of the crypto community at the Blockchain Centre Vilnius.

Blockchain 40

Blockchain Finance Third-Party Service Provider Small Business 40

PYMNTS

APRIL 24, 2017

The vast majority, too, depend on a third-party service provider for this service. But half of the companies surveyed said they don’t use a third-party content provider — and 80 percent of them aren’t able to integrate product management across web, mobile, application and physical stores, they told surveyors.

B2B 70

B2B Third-Party Service Provider B2C On-Demand 70