A fraud ring that appears to be based in Southeast Asia is targeting U.S. retailers and has already committed an estimated $660 million in fraud in stolen laptops, cell phones, computer chips, gaming devices, and other goods just in November, said Signifyd, an online-fraud prevention firm. Signifyd said it has been tracking …

Payments-technology provider Finastra said Mechanics Cooperative Bank, a financial institution with $645 million in assets, has adopted the Finastra Payments To Go platform to offer real-time payments via The Clearing House Payments Co. LLC and later through the Federal Reserve’s FedNow network. Digital-security provider IronVest Inc. launched what it calls a “super app” for …

The Consumer Financial Protection Bureau has ordered Wells Fargo Bank to pay $3.7 billion, including a $1.7-billon civil penalty and $2 billion in redress to consumers, for what the bureau says were illegal fees and interest charges on auto and mortgage loans, incorrect charges on checking and savings accounts, and other “incorrect” …

Wedge Financial Inc. said its app, which lets users spend funds from multiple fiat accounts and assets using a single card, has joined Fiserv Inc.’s AppMarket. Work at the New York Fed under an initiative called “Project Cedar” means the United States has officially moved from the “research” phase to the …

Dealer Pay, a provider of point-of-sale payment acceptance for auto and truck dealerships, said it has joined the CDK Global Partner Program, which features applications and integrations for automotive dealers. Mastercard Inc. is working with the U.S. International Development Finance Corporation to help support financial institutions and businesses that work with …

Afterpay, the buy now, pay later service owned by Block Inc.’s Square, is the one most used by Gen Z consumers—those between 18 and 25 years old—according to a survey from Insights in Marketing, a marketing consultancy, with 58% of them having used Afterpay. Next was Klarna at 44%; Affirm …

BTRS Holdings Inc., also known as Billtrust, said it will go private on Dec. 16 through a merger with an affiliate of EQT X Fund. The business-to-business payments provider went public in January 2021 through a merger with South Mountain Merger Corp., a special purpose acquisition corporation, or SPAC. Payments provider ACI Worldwide said it …

Point-of-sale system maker TouchBistro released its 2023 “State of Restaurants” report that found 76% of restaurant operators changed their POS systems in the past year and 66% used a system with an integrated payment processing service. The study, now in its fifth year, was based on research from 600 full service restaurant …

U.S. payments provider Shift4 Payments Inc. said it has now processed transactions in Europe on its SkyTab point-of-sale platform for restaurants and its VenueNext service for mobile ordering and payment at stadiums and other facilities. The company said it plans to launch the two platforms commercially in Europe next year. Kansas-based processor Euronet Worldwide Inc.’s epay …

Prepaid card platform Blackhawk Network Holdings Inc. launched its One4All gift card, a single gift card accepted at more than 100 merchants and restaurants. The card is issued by Pathward N.A., a unit of Pathward Financial. Matera, a Brazil-based instant payments and QR code payments company, opened an office in San Francisco …