Credit Cards

Cybercriminals showed no signs of slowing down in 2022 as they employed a variety of schemes to defraud consumers, acquirers, card issuers, and merchants, according to Visa Inc.’s Spring 2023 Biannual Threats Report. Cryptocurrency was a prime target for cybercriminals. More than $3 billion in cryptocurrency was stolen through November …

Lux Vending LLC, which does business as Bitcoin ATM operator Bitcoin Depot Inc., has agreed to deploy its machines in 125 locations owned by convenience-store chain GetGo Cafe + Market. Overall, Bitcoin Depot operates approximately 7,000 machines in 48 states and 10 Canadian provinces. Digital-currency provider Circle Internet Financial LLC said it has …

Fiserv Inc. is partnering with Central Payments LLC, a provider of banking-as-a-service for fintechs and embedded-finance businesses, to enable fintechs to bring financial products and services to market faster. Central Payments will leverage Fiserv’s real-time card-processing and -issuance capabilities to enhance its Open CP Fintech API Marketplace, a banking-as-a-service platform …

Mastercard Inc. is adding another arrow of digital-security technology in its cybersecurity quiver with the acquisition of Baffin Bay Networks, a Sweden-based cybersecurity company. Payments companies constantly need advanced ways to counter fraud because criminals are relentless. In fact, credit card fraud accounted for 6.2% of digital fraud in 2020, …

Payments-technology fintech Preferred Payments is working with WebbRes, a provider of management systems for trailer dealers, to enable dealers to process payments within the WebbRes platform. Ascend, a provider of payments technology to the insurance industry, announced an integration with the AMS360 agency-management platform from Vertafore. The Western Union Co. said money transfers …

While the growth in buy now, later loans is prompting card issuers to enter the fray, one challenge they face is creating awareness, as card issuers do not make their BNPL offerings available at the point-of-sale. This is unlike BNPL specialists such as Affirm Holdings Inc., Klarna AB, and Sezzle …

E-commerce wasn’t the only market that ballooned after the pandemic set in. Fraud took off, too, and attracted novice practitioners in the bargain. Of more than 1,000 consumers surveyed by Sift Science Inc. for a report it released Thursday, some 16% admitted they had committed payment fraud, or knew someone …

Merchant Machine, a United Kingdom-based payments information and comparison site, issued a report on contactless transaction limits around the world. Only two nations, Ecuador and the United States have no limit, though banks or merchants may set their own limits, Merchant Machine said. Payments-technology provider BHMI announced an entity-relationship component for its …

The buy now, pay later platform Klarna AB launched “conscious badges,” which allows users to access information on greenhouse gas emissions and other environmental factors regarding contemplated electronics purchases. Payments provider Get Beyond said it has added a channel-sales division to be led by Shawn Lally, who will report to chief executive Mike Peters. …

GasBuddy LLC, a fuel-savings platform, announced its Pay with GasBuddy program has now attracted more than 2 million members since its launch in 2017. The program includes a Pay with GasBuddy card linked to the user’s checking account. Users receive a discount of up to 25 cents per gallon when paying at …