Fraud & Security

i3 Verticals Inc. generated $93.9 million in fiscal third quarter revenue, up 16.5% from $80.6 million in the corresponding quarter in 2022, ended June 30. Its quarterly loss widened to $6.7 million from $4.7 million last year for the same period. Rebate-management platform Vendavo announced a collaboration with Oracle to ease payments and …

Card skimming remains a vexing problem in the United States, with the number of reported incidents increasing 20% during the first half of 2023 compared to the same period in 2022, according to the credit-data firm FICO. More concerning, however, is that the number of cards compromised as a result …

Fintech iWallet, whose technology lets repair personnel and other field-service providers process checks on a smart phone, said it is seeing growth among small businesses such as those in the plumbing, appliance-repair, electrical, and HVAC fields. Financial-technology provider Ascend will provide its billing-technology platform to process transactions for NFP, a property and casualty …

Payment security and fraud play a key role in cart abandonment for e-commerce merchants, according to a study by e-commerce solutions provider Radial Inc. The study found that 48% of respondents cited Web site security and 45% listed security of personally identifiable information as their primary reasons for shopping cart …

Checkout provider Skipify said its technology is launching exclusively with American Express Co. to enable select cardholders to link to eligible AmEx cards to checkout with participating merchants. The integration means consumers will not need to manually enter their payment and billing details, which could help with merchant approval and conversion rates, …

Payments technology provider Verifone Holdings Inc. announced Mike Kohlsdorf has joined the company as chief executive, succeeding Mike Pulli. Kohlsdorf’s background includes CEO positions with eight portfolio companies of Verifone backer Francisco Partners. Pulli has been CEO since 2018. Payments technology firm Weave, a specialist in small and medium-size businesses, announced an expansion …

Service provider Finzly said it supports the FedNow real-time payments service that launched Thursday. Other providers— Jack Henry & Associates Inc. and Pidgin—also support the instant payment service. Fiserv Inc. said two of its clients are live on FedNow and nearly 100 others anticipate doing so in coming months. Banking services provider CSI said it offers FedNow access and noted …

The Consumer Financial Protection Bureau said informal discussions between Rohit Chopra, CFPB director, and Didier Reynders, commissioner for Justice and Consumer Protection of the European Commission, have started on a range of financial consumer protection matters, including the deployment of AI in decision making, BNPL products and their risks, consumer debt issues, …

Open banking, the system enabling seamless sharing of financial data via application programming interfaces between banks and third-party service providers, has captured global attention over the past several years. In 2018, the Second Payment Services Directive (PSD2) marked the official open-banking era by mandating data sharing in Europe. This milestone paved …

Financial services was the most impersonated industry by criminals launching phishing attacks during the first half of 2023, according to a report from cybersecurity firm Vade. Financial services accounted for more than 33% of all phishing URLs, followed by the social media (22%) and cloud (21%) industries. Phishing is the …