Monday , December 23, 2024

Fraud & Security

 Adyen Adds Tap to Pay on Android And Other Digital Transactions News briefs from 7/11/23

Point-of-sale technology provider Adyen NV has added Tap to Pay on Android, which allows merchants to accept contactless card payments directly on a mobile device with no additional hardware. Adyen is adding the technology initially in the United States and Singapore. Checkout.com launched Identity Verification, a tool based on artificial intelligence that allows …

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FIS Gets FedNow Certified; MX Partners With Open Banking Specialist Moneyhub

FIS Inc. is the latest processor to be certified for the Federal Reserve’s FedNow real-time payments network, which is scheduled to launch later this month. FIS, which announced yesterday it is selling a sell a 55% interest in its merchant-processing business, joins a growing list of certified FedNow participants, including  ACI …

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Apple Renews App Store Payments Appeal And Other Digital Transactions News briefs from 7/5/23

Apple Inc. said it will file a renewed appeal with the U.S. Supreme Court regarding a 2021 case that invalidated Apple’s requirement that App Store businesses accept payments only through Apple’s platform. Keys App Inc., a platform provider for locksmiths, launched its Keys App to enable digital payments for services and …

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Commentary: Developers Don’t Know Enough About Payments. It’s up to Gateways to Fix That

The fundamental problem with payments software is that, for most developers, it’s a necessary evil. They must integrate payment-transaction capabilities so they can get paid for all the other code they’re writing. Now, thanks to one-size-fits-all application programming interfaces and tokenization that devalues everything, developers barely know a PAN from …

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Mitek Turns to Fraud Control As Remote Deposit Capture Matures

Mitek Systems Inc., provider of remote deposit capture and fraud-prevention technology, says revenue for fiscal 2022 grew 20% to $143.9 million from fiscal 2021’s $119.8 million. Much of the growth came from more demand for the company’s fraud-control offerings. San Diego-based Mitek is a leading vendor of remote deposit technology. …

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Processors Are Starting to Adopt AI, But Consumers May Not Be Entirely Onboard

The explosive potential that lies in recent advances in artificial intelligence is beginning to be felt in the payments business as banks and fintechs search for ways to wring intelligible trends and operational improvements out of enormous masses of data. The nascent trend toward AI in payments was underscored by …

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Travel Chargebacks up 71% And Other Digital Transactions News briefs from 6/27/23

Travel companies experienced a 71% growth in chargebacks in the past few years, according to the “Tackling the Travel Chargeback Challenge” report from Outpayce from Amadeus, a global travel company. The survey canvassed 46 airline and travel agent executives in the second quarter. The Accredited Standards Committee X9 Inc. started an industry forum …

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$362 Billion in Online Fraud Loss And Other Digital Transactions News briefs from 6/26/23

Merchant losses from online payment fraud globally will total more than $362 billion in the years from 2023 to 2028, according to a forecast from Juniper Research. So-called swipe fees on credit card transactions will increase Fourth of July costs for U.S. consumers by more than $500 million, according to the Merchants Payments …

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Secure Technology Alliance Marks 30 Years And Other Digital Transactions News briefs from 6/23/23

JPMorgan Chase has extended its JPM Coin, a blockchain-based settlement token launched in 2019, to euro-denominated payments. More than $300 billion has been processed on the coin since its inception. Transact Campus, a payments provider specializing in colleges and universities, announced it has reached the 1-million mark for number of student mobile …

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 Plaid Beacon Debuts And Other Digital Transactions News briefs from 6/22/23

Open banking specialist Plaid launched Plaid Beacon, an anti-fraud network for fintechs and financial institutions. The fintech Karma Wallet has allied with card-issuing platform Marqeta Inc. to introduce a prepaid card offering cash-back rewards from merchants said to be local, ethical, and sustainable. PayEm, a spend-management platform, has integrated with American Express to allow …

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Digital Transactions