Electronic payments options for legal cannabis sales broadened their reach with Thursday’s deal between Aeropay, a digital payments provider specializing in cannabis sales, and Flowhub, a point-of-sale platform for legal cannabis dispensaries. The deal will enable more than 1,000 dispensaries using Flowhub’s POS software to accept ACH payments. To initiate …
Read More »Digital Fraud Is Down Overall, But Several Industries Are Still At High Risk
Thanks to more businesses implementing fraud-prevention tools, global digital fraud decreased more than 22% during the first quarter of 2022, compared to the same period a year earlier, according to TransUnion LLC’s quarterly digital-fraud analysis, released Thursday. On a per-category basis, financial services, telecommunications, and retail all saw declines in …
Read More »Binance Launches a Crypto Debit Card to Give Ukrainian Refugees Access to Money
As the mass exodus of Ukrainian refugees fleeing their war-torn country continues, charitable organizations and businesses are finding new ways to provide support. Cryptocurrency exchange and blockchain-infrastructure provider Binance joined those efforts Tuesday, announcing the Binance Refugee Crypto Card. The Visa-branded debit card will allow displaced Ukrainians to make or …
Read More »Mastercard And Microsoft Team on an Enhanced Verification Solution for E-Commerce
With consumers—and criminals—flocking to e-commerce, card issuers and merchants are not only experiencing a significant increase in fraud, but also in so-called friendly fraud committed by cardholders who dispute legitimate purchases after the fact. As a result, merchants’ need for stronger cardholder verification tools is growing. To address that need, …
Read More »BitPay Adds More Wallets And Exchanges for Its Accurate Payment Protocol
Taking cryptocurrency mainstream involves many tasks, among them eliminating as much as possible exceptions in transactions made with the virtual currency. In response to this need, BitPay Inc. said Thursday its accurate payment protocol has been adopted by cryptocurrency exchanges Bitso and Bitstamp and crypto wallets Edge and Guarda. The …
Read More »Marqeta Launches Risk Management Tools to Help Its Issuers Defend Against Fraud
To help its card-issuing clients keep pace with evolving risk-management and compliance issues, virtual-card issuing platform Marqeta Inc. on Thursday introduced RiskControl, a suite of risk-management, fraud-mitigation, and compliance tools it says are aimed at allowing issuers on its platform to get ahead of fraud and streamline their risk and …
Read More »Visa Ups Its Data Security Game by Spending $9 Billion In Five Years
Visa Inc. has spent more than $9 billion over the past five years to boost cybersecurity and reduce fraud, according to an announcement the network made in a blog post Tuesday. Of that amount, $500 million has been spent on artificial intelligence and data infrastructure. As a result of its …
Read More »Crypto Gateway Data Mynt Gives the Bitcoin Lightning Network a Boost
Cryptocurrency payment gateway Data Mynt Inc. on Tuesday announced support for the Bitcoin Lightning Network. Data Mynt will facilitate payments to and from all Lightning Network-enabled wallets, such as Block Inc.’s Cash App and Strike. The Data Mynt gateway, which says it is agnostic as to wallet, asset, and blockchain, …
Read More »As Regulators Close in, Experts Start to Fill in a ‘Legal Gray Space’ for BNPL
Despite predictions that buy now, pay later loans will account for $680 billion in transactions by 2025, or about 12% of all e-commerce sales, the industry remains on a potential slippery slope when it comes to consumer protections, says a paper issued Monday by the Mossavar-Rahmani Center for Business and Government at …
Read More »Working With Cross River Bank, Revolut Expands Its Footprint in the U.S. Market
Revolut Ltd. continues its expansion in the United States, announcing on Friday it is partnering with technology infrastructure provider Cross River Bank to expand access to financial services to Revolut customers in the U.S. and enable Revolut to scale and expand across business verticals in the country, including credit. As …
Read More »