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Finance Ministry: India Retailers With $7M+ Sales Must Accept Debit Cards

PYMNTS

The finance ministry in India passed a new regulation saying that companies with sales of more than ?50 50 crores (about $7 million) will have to offer customers electronic payment modes like debit cards, powered by RuPay, according to a report by LiveMint. . The new regulation went into effect on Jan.

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Glitch At National Bank of Canada Exposes Personal Information

PYMNTS

The National Bank of Canada, the sixth largest lender in Canada, has become the latest high-profile firm to announce a data breach. According to a report in Reuters , the National Bank of Canada said Thursday (Sept. The revelation on the part of National Bank of Canada comes as consumers in the U.S.

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UK Police Investigate Travelex Ransomware Attack, Ransom Demand

PYMNTS

The gang demanded $6 million in ransom in exchange for not releasing sensitive information regarding Travelex customers, including birth dates and credit card numbers. Discovered on New Year’s Eve, the cyberattack is now the focus of a criminal investigation, led by the Metropolitan Police.

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SMBs Severely Underestimate Data Breach Costs

PYMNTS

It’s National Cyber Security Awareness Month, and industry leaders are zeroing in on some of the most vulnerable targets of cyber scams: small businesses. 11 percent of businesses surveyed in Microsoft’s 2019 Global Cyber Risk Perception Survey said they are confident about their cyber resilience.

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Prepaid’s Summer Of Uncertainty

PYMNTS

Brad Fauss, CEO of the National Branded Pre-Paid Card Association and MPD CEO Karen Webster dug into the potential for these rules to create the kind of inconsistencies that could very well disadvantage the very consumers that the CFPB intended to protect. Who Uses Prepaid Anyway? So far, so good.

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Could a National Know-Your-Customer Registry Be in the Cards?

American Banker

Comments by JPMorgan Chase's Jamie Dimon have added fuel to the long-discussed idea of a national database that would make it easier for banks to vet customers for anti-money-laundering and other risks.

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Could a National KYC Registry Be in the Cards? Dimon's on Board

American Banker

Comments by JPMorgan Chase's Jamie Dimon have added fuel to the long-discussed idea of a national database that would make it easier for banks to vet customers for anti-money-laundering and other risks.