The Federal Trade Commission is investigating whether Visa Inc. and Mastercard Inc.’s security tokens restrict debit-card routing competition on online payments, according to people familiar with the ...

Mastercard must provide competing debit networks with the keys needed to convert tokenized card account information — which has been encoded for security purposes — back to the original account number ...

When Mastercard was blindsided in the final weeks of the year by a proposed consent order with the Federal Trade Commission around violations of debit-routing rules, a key question was how Visa and ...