LAS VEGAS — "It has to be secure." "It has to be easy to use." "It has to be exciting."
Industry observers and executives with other processing companies predict that the recent supervisory letter on FIS security problems may have a limited impact on FIS’ sales but will likely heighten the importance of security for all payments processors.
Long, complicate processor switch process should impede exodus from FIS after regulatory letter, card consultant says.
The NCUA has asked credit unions that process their debit and credit card transactions with FIS to evaluate their relationship with the card processor in light of an information technology supervisory letter the company has received from other federal financial regulators.
Card Analysis Solutions has announced its next Credit Card Management School, scheduled for early June in Florida.
This year saw a regulation capping the interchange card issuers were able to earn on a debit card transaction come into effect for the first time in history.
More small merchants seen seeking cash instead of cards.
The Federal Reserve's most recent update of its rule implementing the Durbin amendment makes it a bit better for most CUs but leaves most of their deep concerns about the measure untouched.
An unknown number of the third largest credit union's members were put at risk of identity theft after the CU had its security breached by a program carried on an infected laptop.
Debit card rewards programs at credit unions will survive the coming downturn in debit card interchange, but they will have to change and broaden their foundations in order to remain a part of credit union programs and services.