![]() The service (pronounced pay-em) allows users to send payments from within their bank’s app by entering a phone number. LAUNCH DATE SET FOR UK’S PAYM MOBILE PAYMENTS SERVICE: Paym, a peer-to-peer and commercial mobile payments system backed by a consortium of UK banks, is set to launch in late April. ![]() SECURITY EXPERT - TARGET WAS ‘BETTER PREPARED THAN MOST RETAILERS': “Target was actually better prepared than the vast majority of its peers … It had dedicated security and IR teams using multiple advanced tools … Exacerbating this situation is the incredibly manual, ad hoc nature of today’s IR … The issue isn’t Target’s security team or investment in tools, but rather the current state of the threat intelligence and IR practices…” ( Dark Reading) The bill is among the repercussions coming out of the massive Target data breach which occurred in late 2013 and affected 110 million Target customers. Consumers are currently liable for up to $500 for debit card fraud under the Electronic Funds Transfer Act. The bill would cap consumers’ debt burden at $50, thus matching the current consumer liability for credit card fraud under the Truth In Lending Act. Warner (D-VA) and Mark Kirk (R-IL) yesterday introduced a new bill to reduce consumer liability for debit card fraud. ![]() ![]() Payments Insider is delivered first thing every morning exclusively to BI Intelligence subscribers. Account icon An icon in the shape of a person's head and shoulders. ![]()
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