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By Xavier Giandominici, Vice President, Americas and Financial Services at FIME
For issuers and merchants alike, fraud is an unwelcomed part of the payments industry. To take counterfeit card fraud out of the system, the U.S. is migrating to EMV chip technology.But for this to work, both issuers and merchants need to make the switch.
Whether it is EMV, NFC, HCE or TSP, there is certainly no shortage of acronyms within the payments ecosystem. And this is one trend that is here to stay.
The recent release of EMVCo’s updated payment tokenization specification has added yet another into the mix – Payment Account Reference (PAR). But what is PAR, why has it been introduced and what does it mean for the payments industry?
What is PAR?
The Daily Telegraph’s Brussels correspondent, Matthew Holehouse, has joined MLex Market Insight as a reporter on its Brexit service, where he will cover the UK side of the negotiations surrounding the UK’s extraction from the European Union.
Matthew, who previously worked as Westminster political correspondent for the newspaper, is joining a team of journalists in London and Brussels covering the regulatory and political landscape. Further hires are expected to be announced in the coming days.
Calastone Settlements automates the reconciliation and settlement process of investment funds through a single account. All the parties involved in the transaction including fund managers, distributors and transfer agents can gain efficiency using Calastone Settlements. The financial institutions that have leveraged the solution include Schroders and Hargreaves Lansdown.
SAP Ariba announced that it has again been ranked as a leader in Contract Life-Cycle Management for Buy-Side Contracts by independent research firm Forrester Research, Inc., this time in a new report titled “The Forrester Wave™: Contract Life-Cycle Management, Q3 2016: The 14 CLM Vendors That Matter Most And How They Stack Up,” (The Forrester Wave™: Contract Life-Cycle Management, Q3 2016, Forrester Research, Inc., July 2016).
