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NewsBriefs

faster payments. Nine in 10 expect to be able to send and receive faster payments PAX patch keeps hackers at bay
by 2023; many are already doing so.
Positive Technologies issued a
"Businesses' appetite for faster payments has clearly accelerated due to growing press release regarding three
acceptance during the pandemic," said Shonda Clay, chief of customer and vulnerabilities in PAX S920 and
industry engagement for the Federal Reserve Bank System. "Businesses are D210 terminals. Artem Ivachev,
calling for consumer-to-business and business-to-business payments that Positive Technologies' researcher
facilitate quicker access to funds, the ability to post payments immediately and and reverse engineer, commended
automatically, and timely notification of payments." PAX for promptly addressing these
issues and urging users to install
the manufacturer's software patches
immediately to protect transactions.
Ivachev stated he found stack buffer
overflow errors during a routine
investigation, which attackers could
exploit to gain access to keystore
and protected memory of affected
devices.

"The chains of these and some other
vulnerabilities made it possible
to intercept user card data (Track
2, PIN) and send arbitrary data
to the processing of the acquiring
bank (for this, attackers would
need encryption keys that could be
extracted from the terminal)," he
stated.
Fintechs embrace inclusion,
education

The Sept. 13, 2021, reopening of
FinovateFall in New York City
drew thousands of exhibitors and
attendees. The popular conference
and a flurry of investment rounds
and M&A activity reflect a vibrant
fintech community, stated David
Penn, research analyst with The
Finovate Group.

"From the smiles on the faces of the
hundreds who joined us yesterday
at the Marriott Marquis in Times
Square to the thunderous applause
that greeted virtually every
demoing company and keynote
speaker, yesterday was a wonderful
reminder of both how much we
missed hosting live events and how
much so many of you have enjoyed
attending them," Penn wrote. He
noted that Finovate Fall 2021 offered
on-site and live-streamed demos
focused on emerging technologies,
financial crime prevention and open
banking.

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