Fraud & Security

JPMorgan Chase & Co. said it will buy InstaMed, a specialist in health-care payments. Terms were not disclosed. In April, InstaMed released an app with a blockchain prototype that it said will demonstrate how the technology can support adjudication and payment for insurance claims, patient billing, and patient payment. NLS …

Boomtown Inc., which provides merchant-support services, raised $12 million in funding led by Telstra Ventures with others participating. The Series B funding will go toward building its Relay Software-as-a-Service platform and additional growth. Boomtown also announced that Robert H.B. Baldwin Jr., a member of the Global Payments Inc. board of …

Processor Adyen N.V. said ride-share service Uber will use Adyen’s 3-D Secure service online and in-app. 3-D Secure is an online authentication standard that, now in its second iteration, uses multiple bits of data to verify elements of a transaction. Unlike the first version, 3-D Secure 2 aims to be …

An automated clearing house network rule tightening security around Internet purchases, one of the ACH’s fastest-growing transaction categories, is set to take effect Jan. 1. The rule change, technically an amendment, affects so-called WEB debits, which cover a wide variety of ACH-funded Internet payments. It will require merchants as ACH …

NACHA said automated clearing house volume in the first quarter totaled 6 billion payments that included 3.5 billion debit transactions and 2.5 billion credit transactions. Internet-initiated payments increased 10.3% to 1.6 billion. Same-day ACH transactions totaled 52.7 million, up 24% from a year prior. NACHA also launched the NACHA Corporate …

First Data Corp. launched CloverAchievers, a grant program for small-business owners that offers recipients a cash grant, Clover point-of-sale equipment, and a charitable donation in their names. Bank of America Merchant Services said it and subscription-management specialist Recurly are working together on products for merchants. Fraud-prevention firm ACH Alert named …

Facebook Inc. reportedly is planning a cryptocurrency-based payment system using a digital coin with stable value that would enable the social-networking giant to avoid fees it incurs for conventional card payments, according to a report in The Wall Street Journal cited by the Associated Press. The report says Facebook is …

PayPal Holdings Inc. said the United Kingdom Competition and Markets Authority provisionally cleared PayPal’s $2.2 billion deal to buy iZettle AB, a European point-of-sale services provider. The deal closed in 2018. Processor First Data Corp. said merchant-processing revenues from North American clients rose 5% year-over-year in the first quarter to …

In the race to attract and retain today’s always-on, mobile-savvy consumer, most companies are developing their own e-commerce apps at a fast and furious pace. But small glitches, and even major mishaps, can occur when app testing is rushed or overlooked altogether, leading to unhappy consumers, lost sales, and a …

Facebook Inc. chief executive Mark Zuckerberg told stock analysts this week that although advertising will continue to be the primary contributor to revenue, the company plans to add more commerce functions on Instagram, Facebook, and Facebook Marketplace, including features that let users buy products directly through the platforms. Instagram has …