Competitive Strategies

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 provider Paya Inc. has agreed to supply point-of-sale systems supplier 1Retail with technology that enables EMV contactless and stored payments in enterprise resource planning (ERP) software from Acumatica Cloud. The deal provides Paya’s and 1Retail’s mutual customers running the Acumatica ERP platform with a POS system that works in …

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 …

Global processor Worldline S.A. will make Splitit, a white-label buy now, pay later provider, available to its roster of merchants and marketplaces, starting first in North America. Announced Tuesday, the integration will enable Worldline merchants to offer card-based installment payments within the existing checkout flow. Merchants can use their brand …

As financial institutions look to revamp their payment strategies, peer-to-peer payments are expected to play a key role, says a report from Cornerstone Advisors. During the past three years, nearly 30% of community-based financial institutions have replaced their P2P service or selected a new one, and about one in five …

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” …

Customers new to using Zelle, the peer-to-peer payment network operated by Early Warning Services LLC, have higher levels of engagement with their financial institutions than customers not using Zelle. That’s according to a recent study conducted by Early Warning and Curinos, a provider of data and technology technologies to financial …

The interest in buy now, pay later (BNPL) skyrocketed in 2021 and 2022: Millions of people have turned to this installment-payment solution for its convenience, flexibility, and simplicity. So it’s no surprise that Apple announced its new BNPL product, Apple Pay Later, in June. With its new financial service, the …

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 …

EzFill Holdings Inc.’s specialty is sending one of its mobile fuel trucks to a driver’s location, thus eliminating the hassle to the driver of having to get to a gas station to fill up the car or a fleet of vehicles. Now, EzFill has launched a new one-time payment service …