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April, 2022

• 13 April

  The Absence of Interest Charges Is What Tweaks Consumer Interest in BNPL Services

  

  The buy now, pay later trend continues to solidify into a permanent part of the payments arena, thanks to consumers who readily adopt the installment-payment service. Now, new research finds that many—82%—are drawn to it because they do not have to pay interest for the installment-payment benefit. New research from …
• 11 April

  There’s More to Lose in Not Offering BNPL Than in Offering It, Providers Warn

  

  The buy now, pay later trend may have come under scrutiny lately by regulators, but companies enabling BNPL warn sellers and payments providers risk losing merchant volume and younger consumers if they don’t offer the installment option online and at the point of sale. “You’ll see volume attrition without merchant …
• 7 April

  Adyen Poised To Offer Tap to Pay on iPhone To U.S. Merchants

  Processor Adyen NV is poised to be among the first to offer Apple Inc.’s Tap to Pay on iPhone service to U.S. merchants. Sometime later this year the service will launch, enabling compatible iPhones to accept contactless payments without the use of additional hardware or payment terminals. Announced in February …
• 4 April

  The PCI Security Standards Council Launches the Latest Version of Its Security Standard

  

  After years of soliciting input from more than 200 organizations in the payments industry, the PCI Security Standards Council Thursday published version 4.0 of the PCI Data Security Standard (PCI DSS). The new standard, which provides a baseline of technical and operational requirements designed to protect account data, replaces version …

March, 2022

• 30 March

  Losses From Stolen Identities Skyrocketed 79% to $24 Billion in 2021, a Javelin Study Finds

  

  Payments providers are increasingly resuming business-as-usual as the pandemic eases, but so are criminals. Losses from identity-fraud schemes, in which fraudsters use stolen payment credentials for their own gain, soared 79% last year to $24 billion, according to a study released Tuesday by Javelin Strategy & Research. Moreover, this so-called …
• 23 March

  Mastercard Announces Account-to-Account Payment Tools Based on Open-Banking Assets

  

  Mastercard Inc. early Wednesday said it will launch two new payments tools that rely on the card network’s rapidly growing stake in open banking and account-to-account transactions. The new digital tools, which Mastercard says will not be available until later this year, are expected to address risk and uncertainty in …
• 21 March

  Fiserv and MX Pair Up for Expanded Open Banking

  

  The fast-growing field of open banking got another boost Monday when the big payment processor Fiserv Inc. announced a major industry player, MX Technologies Inc., will use its AllData Connect service. AllData Connect is part of Fiserv’s AllData Aggregation platform that provides consumer-permitted access to tokenized financial account and transaction …
• 11 March

  BofA Brings Positive Pay to Its CashPro App As Same-Day ACH Builds Momentum

  

  With momentum accelerating behind faster payments on the automated clearing house, fraud prevention is taking on a higher profile at the nation’s banks. In the latest move, Bank of America Corp. on Thursday introduced ACH Positive Pay on its CashPro mobile app. The move will let app users review and …
• 7 March

  The CFPB Turns Its Attention to Block’s Cash App

  

  Block Inc., parent company of Square Inc., has become the latest payments provider to come under the scrutiny of the Consumer Financial Protection Bureau. The CFPB, as well as attorneys general from multiple states, have requested information from Block related to how the company handles complaints and disputes from customers …
• 3 March

  It Took off During the Pandemic, And Now E-Commerce Shows No Signs Of Slowing

  

  Despite the economy reopening after the disruptions caused by the Covid-19 pandemic, e-commerce continues to boom as consumers embrace shopping online from home or via their mobile device.  A recent study from FIS Inc. reveals that e-commerce transaction values in the United States grew 10% in 2021 compared to 2020, …