Page 10 - GS181002

NewsBriefs

Editor's Note: Following are excerpts from news stories recently posted Cash discounting push continues
under Breaking Industry News on our home page. For links to these and
other full news stories, please visit www.greensheet.com/breaking- The trend toward ISOs and merchant level salespeople
news.php?flag=previous_breaking_news. offering to support merchant cash discounting initiatives
is gaining steam. VizyPay LLC, headquartered in Des
Moines, Iowa, is the latest ISO to disclose it has created a
cash discount program for card-accepting merchants. "The
program creates a more reliable, transparent payments
process for business owners and incentivizes customers to
pay in cash," the company said in a statement.

Widespread adoption of cash discounts had been hampered
by card brand rules, which were negated following passage
of the 2010 Dodd-Frank Act. It authorized merchants to
offer discounts or other incentives to customers who use
certain payment methods provided the programs are
"conspicuously disclosed."

Getting real about real-time payments
The Federal Reserve Board is considering changes to
how the Reserve Banks support bank-to-bank payment
Visa to support DCC in 2019 services, with an eye toward real-time settlement. It has
issued a request for public comment on potential actions
Visa Inc. disclosed that it plans to enable dynamic to make real-time interbank settlement of payments a
currency conversions (DCC) on international ATM reality, but those actions could be several years off.
transactions around the world. The card brand said the
capability will become effective April 13, 2019, with the In 2015 the Fed published a set of strategies it would
release of the revised Visa Rule Book. "Visa is updating the undertake with the private sector to identify and pursue
rules and expanding Visa/Plus ATM network services to faster payments capabilities. It also convened the Faster
help issuers cost-effectively increase their ATM footprint Payments Task Force comprising representatives from
while providing added convenience to cardholders hundreds of banks, nonbank providers of payment
with additional banking transactions and services," the services, business and government end users, consumer
company stated. groups, and government entities.
New standards push to sideline passwords ETA SRP finds broad support, implementation
Web security is about to get turbo charged with a new set Just over a month after the Sept. 4, 2018, launch of the
of access security standards that eliminate the need for Electronic Transactions Association's Self-Regulation
passwords, replacing them with cryptographically secure Program (ETA SRP), the global trade association has
login routines. The new standards are the work of the garnered positive reviews and broad support for the
FIDO Alliance and the World Wide Web Consortium. FIDO program across multiple payments channels. Designed
was created in 2012 to promote interoperability among to provide industry stakeholders with practical tools and
authentication technologies and to foster an environment guidance, the program sends a clear message to lawmakers
where web users don't need to rely on multiple user names that the payments industry adheres to consistently high
and passwords to access web services. standards of ethics, security and risk management, said
Verizon notes pervasive security Jason Oxman, CEO of the ETA.
flaws, Facebook one example Google finds bug, deletes Google Plus
Verizon's 2018 Payment Security Report, published Sept. Google Inc.'s parent company, Alphabet Inc., disclosed
25, 2018, identified widespread vulnerabilities in financial on Oct. 8, 2018, that it deactivated the Google+ platform
services. For the first time in six years, a majority of for consumers after detecting a software flaw that can
survey respondents had not fully implemented security potentially expose private data to software developers.
best practices or complied with the Payment Card Security analysts said a bug in the Google+ API made
Industry Data Security Standard (PCI DSS), researchers it possible for third-party app developers to access data
found. While 87.3 percent of respondents are securely for users and individuals in their Google+ networks.
transferring cardholder data, only 71.8 percent comply Some have criticized Google for failing to report the
with PCI guidelines. vulnerability as soon as it was discovered; keeping the
matter private only delayed the inevitable public relations
nightmare, they stated.
10
10