Fraud & Security

Ten years after remote deposit capture became a commercial proposition, banks that offer the service are progressively allowing customers to deposit larger and larger sums. Indeed, as of this month, slightly more than half are applying per-item limits somewhere between $2,001 and $5,000, compared to 49% a year ago and …

Regulators and the states currently are more active than Congress on issues affecting the payments industry, according to the Electronic Transactions Association’s point person on governmental affairs. The divided Congress probably won’t pass any major payments-related legislation before the 2020 elections, says Scott Talbott, a senior vice president at the …

Apple Inc. has been working on a payment card product with Goldman Sachs Group Inc. for at least a year, and on Monday the computer company that did much to put mobile payments on the map announced the results of that collaboration. Cobranded with Goldman and running on the Mastercard …

Debit card issuers subject to the Durbin Amendment’s interchange price controls saw their average authorization, clearing, and settlement expense, excluding fraud, fall to 3.6 cents per transaction in 2017, down 54% since 2009, the Fed reported Thursday. The Durbin Amendment to 2010’s Dodd-Frank Act requires the Fed to issue a …

As more and more companies adopt tokens as a proxy for the primary account number and other sensitive payment data, the day is fast approaching when the utility of the technology will move beyond the payments box. That’s the forecast from Nate Morgan, senior director for product management at CyberSource, …

Fifty-nine percent of consumers cited the ability to pay quickly as a reason they use peer-to-peer payments apps, according to a survey of more than 380 consumers from Tallwave, a digital-services firm. More than 65% have used PayPal and 37% have used Venmo, PayPal’s P2P payment service. Verifi Inc. launched …

In a time when criminal access to consumer data has never been more common, merchants continue to experience pervasive and persistent fraud attempts. That’s the key takeaway from the 2019 sixth annual Fraud Attack Index from Forter Inc. released Thursday. How bad is the problem? Fraud grew in 2018 in …

Aliant Payments said it added Bob Moore Auto Group as a client for cryptocurrency processing. The agreement will allow the auto dealer to accept Bitcoin, Ethereum, and Litecoin for cars, parts, and service at its Subaru dealership in Oklahoma City. Thales S.A. said Gemalto will operate as a separate company …

Those who work in electronic payments know the risks from criminals constantly trying to steal sensitive payment data. Small-business owners, however, may not. Eighty-nine percent of them say there is low to no risk of their businesses facing a data compromise. That startling stat comes from the recently released 2019 …

Merchant acquirer EVO Payments Inc. processed 821.6 million transactions in 2018’s fourth quarter, up 16% from 705.5 million a year earlier. European transactions grew 22% to 575.1 million while North American transactions rose 5% to 246.5 million. Fourth-quarter revenues increased 9% year-over-year to $150.8 million; the company posted a net …