The inclusion of biometrics in mobile devices will generate approximately $9 billion worth of revenue by 2018 for the biometrics industry, not just through unlocking mobile devices through security applications, but also through multi-factor authentication services and the approval of instant electronic payments.Details
Mexico’s Banco del Bajío, one of the top 10 banks in Mexico, has gone live with its licensed PRIME solution from TSYS.
Banco del Bajío has deployed PRIME within its dedicated card services center to manage its credit and private label card portfolios, along with its loyalty and installment programs, in-house on the single-platform PRIME solution.
Wells Fargo is now the only major U.S. bank not charging a foreign transaction fee on all of its small business credit cards. The bank removed its foreign transaction fees on all business credit card and business line of credit access card transactions made outside the U.S,. effective October 1st.Details
A new survey discovers the majority of IT departments (86%) plan to implement two-factor authentication for access to cloud applications. Currently, 38% of users utilize two-factor authentication, this is expected to rise to over half (51%) of users using it in two years. Over half (57%) already use two-factor authentication to secure external users’ access to resources, indicating the varied use of the technology.Details
MasterCard and Cardlytics inked an agreement to deliver targeted card-linked services to US banks of all sizes. The new partnership will match Cardlytics card-linked marketing solutions and advertising expertise with MasterCard’s bank partners and its offers and rewards platform to deliver a solution that is unsurpassed in the loyalty business.Details
CT-based CardFellow, a free web-based service helping businesses find their perfect credit card processor reports its client portfolio now exceeds $1 billion in transactions processed each year. The Company also inked an agreement with credit card processor Payment Depot.Details
American Express is committed to make Apple Pay to be available in key global markets allowing its cardholders to pay on the go with an iPhone, Apple Watch or iPad. Apple Pay is expected to be available for Card Members in Canada and Australia this year and in Spain, Singapore and Hong Kong in 2016.Details
New research shows the average cost of a data breach to a company last year was $3.8 million, a 23% increase from 2013. About 84% of adults with incomes of $100K or more indicated that the security of their financial information was their greatest concern regarding their bank, as did 85% of adults who are college graduates.Details