Fraud & Security

Authorized push payment fraud could reach $7.6 billion in six markets, ACI Worldwide Inc. says in its latest Scamscope report. Released Wednesday, the report looks at APP fraud in the United States, United Kingdom, India, Brazil, Australia, and the United Arab Emirates, all markets with real-time payments. APP fraud happens …

Debit cards not using prepaid funds accounted for 58% of U.S. card spending in 2022, the Atlanta Fed noted in a review of a Federal Reserve Payments Study released last week. Credit cards were used for 36% of payments and 6% of payments were made with prepaid debit cards. Cantaloupe Inc. will serve as …

Despite 71% of online shoppers being unaware they are interacting with generative artificial intelligence, about half say they see value in the technology when it comes to personalizing the online shopping experience and would be willing to share personal data to receive a more customized shopping experience, says a recent …

Payments provider Celero Commerce acquired Precision Payments. Celero said its total annual North America card processing volume is expected to exceed $28 billion with the addition. Terms were not disclosed. NCR Atleos Corp. said it will provide its Cashzone Network ATMs in United Kingdom-based grocer Waitrose stores. Payhawk Ltd. announced an integration with Mastercard …

Mastercard Inc. unveiled plans late Wednesday to tokenize card numbers for all online transactions globally by 2030. The move will make the need for physical card numbers, passwords, and one-time codes for online purchases obsolete, the network says. Tokenization masks in-the-clear card numbers with digits that would be indecipherable to …

The Western Union Co. announced a data-sharing service aimed at allowing businesses to use information from the payments platform to more sharply target marketing efforts at consumers globally. Visa Inc. has agreed to support palm-recognition technology for payments developed by Tencent, the China-based social-media company, starting in Singapore. The fintech PhotonPay announced it will …

Despite the ever-present threat of fraud, almost half of consumers tend to have a more positive opinion of their credit card issuer after becoming fraud victims, according to J.D. Power’s “U.S. Financial Protection Satisfaction Study,” released Thursday. Some 49% of credit card holders say they have a more positive impression …

The Blackhawk Network has entered the digital card space with the launch of Visa- and Mastercard-branded e-gift cards that can be used in-store and online. The launch builds on consumers’ growing preferences for QR-code and tap-to-pay technology, the prepaid card company says, as both technologies help streamline the payment process …

Recent headlines prove that payment fraud continues to pose an ever-growing threat to businesses of all sizes. As payment methods evolve, so do the sophisticated tactics employed by fraudsters, creating a payment-protection predicament for businesses. According to the Association for Financial Professionals, 80% of organizations were victimized by payment fraud in 2023, …

Fiserv Inc. announced enhancements to its Clover point-of-sale technology set, including new devices; integrations such as payroll; and financial functions such as cash discounting, cash advances, and same-day funds transfers. Holders of Visa Inc.’s Infinite Privilege cards can book scarce reservations at popular restaurants in several Canadian cities through the card network’s collaboration …