Monday , October 22, 2018

AmEx Disputes CFPB Opinion and other Digital Transactions News briefs

  • American Express Co. says it disagrees with an opinion from the Consumer Financial Protection Bureau that differences in card products it offered in Puerto Rico, the U.S. Virgin Islands, and the Pacific Territories from cards it offered in the United States amounted to discrimination. AmEx says it resolved the differences in 2013 after reporting them to the CFPB.
  • Middleware provider Datacap Systems Inc. announced it completed the second round of EMV level 3 certification with Chase Paymentech for a series of Ingenico Group point-of-sale terminals.
  • Bitcoin’s value remained stable Thursday morning in the low $4,000s after a so-called soft fork in the Bitcoin code took place as expected Wednesday. The fork, known as Segregated Witness, or SegWit, is intended to boost transaction capacity by suppressing certain signature data. A second step in the SegWit process is expected in November and will double Bitcoin’s block size.
  • Loylogic Inc., a loyalty-program platform, has partnered with Coinify, a blockchain payment-service provider, to allow loyalty-program members to convert loyalty points into Bitcoin.
  • Thieves hot-wired a forklift from a Hialeah, Fla., McDonald’s restaurant undergoing renovations, then used it to rip out a drive-through ATM at a Bank of America Corp. branch across the street, police told a Miami TV station. The ATM later was recovered later with no loss of money, as was the forklift, but part of the branch sustained substantial damage.
  • The city of Oceanside, Calif., has shut down its online bill-payment system for utility customers and is working with the FBI and other agencies while it investigates a possible data breach of customers’ account and credit card information, The San Diego Union-Tribune reported.
  • Cybersecurity firm Thales said its nShield XC hardware security modules and Vormetric Application Encryption solution have been certified under the Federal Information Processing Standard (FIPS) 140-2.
  • BLM Technologies Inc., a hardware distributor and IT services provider for financial institutions and other businesses, said it is offering clients Panini’s Cardmint FX printer for instant issuance of EMV credit and debit cards.
  • The Federal Reserve named Dave Sapenaro as payments strategy director in charge of payment system improvement initiatives that include faster payments and improved security. Sapenaro will retain his position as first vice president and chief operating officer of the Federal Reserve Bank of St. Louis. He succeeds Gordon Werkema, who is retiring.

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