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- Point-of-sale lender LendingUSA LLC launched an instant ID-verification capability, which involves applicants using a smart phone to take and transmit photos of government-issued ID cards and selfie photos. The company says its merchant base exceeds 8,000 nationally.
- A startup called Skyflow said it has raised $7.5 million in a seed funding round aimed at developing technology that would allow companies to manage access to sensitive consumer data via a “small set of API [application programming interface] calls.”
- In related news, Valid, a specialist in mobile ID verification for payments and other applications, said it is working with the Department of Motor Vehicles in Vermont to allow citizens to renew driver’s licenses online.
- Credit-reporting giant Equifax Inc. launched Response DIGITAL, a set of technologies aimed at helping online businesses verify identities and prevent fraud as e-commerce volume rises in response to Covid-19 restrictions.
- Some 14.7 million credit card accounts went into so-called hardship status in April, accounting for 3.2% of all accounts, up from 0.01% in March and 0.03% in April 2019, according to TransUnion, a credit-reporting company.
- The PCI Security Standards Council said it is making certain allowances because of the difficulties merchants and processors may be having in completing annual validations and three-year assessments of point-to-point encryption systems.
- Prepaid card and banking provider Green Dot Corp. appointed Brandon Thompson as executive vice president of retail, tax and PayCard, effective June 8. Most recently, Thompson served as chief commercial officer at EML, a payments provider operating in 28 countries. Before that he was senior vice president of retail at NetSpend Corp., which Green Dot CEO Dan Henry headed for six years.
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