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No Pain, No Gain? GDPR, PSD2 And The New Payments Reality

PYMNTS

Last year brought the General Data Protection Regulation (GDPR) deadline, Europe’s attempt to boost online privacy and security for consumers — a law that just resulted in a $57 million fine against Google , which was accused of not doing enough to gain the consent of users when collecting data meant for targeted advertising. 3D Secure 2.0

Payments 195
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Wirecard, Enron And Warning Signs Across Two Decades

PYMNTS

Enron filed for bankruptcy in 2001 after accounting improprieties surfaced; much of the company’s business activities — logged as revenues and profits — had been done though special purpose entities (where it had ownership interests). ” Then the swift downturn — and insolvency. Most recently, Wirecard has said that roughly $2.1

New York 178
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Data Dive, Farewells Edition: Apple, Chase, SoFi, Uber

PYMNTS

iTunes dominated after its 2001 release by putting two things in one place that had never existed before: a digital MP3 player that actually worked, properly paired with a store that made accessing music for a small fee much easier than trying to pirate it. Meanwhile, Jain is the face of SoFi to banks that package its loans into securities.

Apple 122
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In Praise Of The Selfie And The Commerce It Drives

PYMNTS

Granted, he had to sit motionless for up to 15 minutes, according to estimates, but he got the job done and secured his place in history (or, least, earned a page on Wikipedia). Brands are turning narcissism into cold hard cash. astronaut and still-living tough guy Buzz Aldrin took his own self-portrait.

National 130
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The Whole Paycheck Tracker: Walmart vs. Amazon

PYMNTS

There is a possibly apocryphal story of Amazon’s early days (around 2001) where Founder Jeff Bezos was invited to Bentonville, Arkansas to discuss the possibility of Walmart purchasing his still young – and, at this point, struggling – online bookstore. Security Shore-Up: Keeping Counterfeiters in Check With AI. US Xpress Inc.

Retail 101
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Why Regulation Won’t Fix Credit Reporting Agencies

PYMNTS

As a consequence, we have three credit reporting agencies operating today, who are largely free to do whatever they want with the data they have — consumer complaint database be damned. FICO scores are based on a credit scoring model using data from one of The Big Three agencies — Equifax , TransUnion and Experian.

Report 202
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Anullment procedure for the EU version of the FATF Travel rule: Q&A

Money and Payments

The direct consequence is that providers individually and as a sector will be faced with high operational costs, disproportionate burdens and the risk of fines for transgressing fundamental rights of their customers. The story for financial institutions after 9/11/2001 was simple.