Law and Regulation

The Clearing House Payments Co. LLC, operator of the Real Time Payments network, said Thursday that it will raise the RTP transaction limit from the current $25,000 to $100,000 effective Feb. 1. Steve Ledford, TCH senior vice president of product strategy and development, tells Digital Transactions News the limit is …

Payment firms that are used to choosing which PIN standard to audit against now have a much simpler choice. The Accredited Standards Committee X9 Inc. and the PCI Security Standards Council have created a unified PIN Security Standard, replacing separate ones each organization previously maintained. The consolidation, announced Tuesday, should …

Federal and European law-enforcement agencies last week seized the domain of WeLeakInfo.com, an online site that allegedly held 12 billion stolen records from 10,000 data breaches. The now-shuttered site’s data included names, email addresses, usernames, phone numbers, and passwords for online accounts, according to a news release from the FBI …

Insurer and financial-services provider United Services Automobile Association on Wednesday asked a federal court to dismiss a request by mobile remote deposit capture technology developer Mitek Systems Inc. for a declaratory judgment that Mitek’s technology does not infringe on four USAA patents. San Antonio, Texas-based USAA’s dismissal request came less …

The newly-signed trade agreement between the United States and China, the number-one and number-two global economies, respectively, finally provides an avenue for U.S. payments firms to operate independently in China. Joint payments ventures with a local Chinese partner have long been the norm, but the new U.S.-China trade agreement—signed Jan. …

MyPinPad, a provider of technology enabling PIN entry on off-the-shelf mobile devices, said it has been granted certification from the PCI Security Standards Council for its software-based PIN entry on a Commercial off-the-shelf (SPoC) product for iOS.Shift4 Payments Inc., which filed for a proposed public offering in December, said it completed certification …

Citcon USA LLC said it prevailed in a lawsuit against Canada-based RiverPay Inc. over allegations of misappropriation of source code trade secrets. Citcon, which helps North American merchants integrate Chinese mobile wallet acceptance, sued RiverPay in 2018 in the U.S. District Court for the Northern District of California because it said RiverPay …

On Track Innovations Ltd., a provider of payments technology based on near-field communication, announced it raised $2.5 million in a private placement of shares.Digital-banking and payments-processing technology provider i2c Inc. launched a mobile app and cardholder Web site it says are designed to help persons who have color-blindness conduct digital banking.TriumphPay, a …

In a move that could have wide-ranging implications for a variety of payments, the Federal Reserve on Monday announced it will support a third settlement window each day for same-day automated clearing house transactions. The later settlement time, which ACH rule-making authority Nacha and a number of banks have long …

Fleetcor Technologies Inc., a payments processor for fleet-fueling cards and other products, issued a statement contesting a Federal Trade Commission lawsuit filed against the company Dec. 20 and asserting it will “vigorously” defend itself against the agency’s complaint in court. The FTC alleges Fleetcor charged customers “at least hundreds of millions of …