Fraud & Security

Data breaches remained at near record levels in 2022, according to the Identity Theft Resource Center’s annual data breach report. The number of breaches totaled 1,802 last year, just 60 short of the all-time high recorded in 2021, making the total number of breaches in 2022 the second-highest on record. …

A major venture by some of the country’s biggest banks to launch a digital wallet using a platform from Early Warning Services LLC, news of which emerged early Monday, is likely to benefit from the banks’ technology resources. But it could be hindered by consumers’ entrenched preferences for major-brand wallets …

Bluefin Payment Systems LLC is leveraging Visa Inc.’s technology to provide network tokenization through its ShieldConex vaultless-tokenization service. Bluefin will integrate directly with Visa to provide network tokens across card brands. In addition, Bluefin’s payment gateway, PayConex, will have the ability to process network tokens. ShieldConex protects payment and ACH …

Oracle Corp. said restaurant chain Big Boy Restaurant Group LLC will adopt its Micros Simphony Cloud Point of Sale and Oracle Payment Cloud Service. Payments provider Paysafe Ltd. said it has expanded its processing services to sports betting in Ohio. The move follows on the heels of Paysafe’s entry in the Maryland sports-betting …

Point-of-sale system maker Lightspeed Commerce Inc. said it will reorganize as it contends with a shifting economy. Among its actions are the elimination of 300 jobs, accounting for approximately 10% of its overall employees. The Consumer Financial Protection Bureau is considering regulations governing the fees providers charge for cross-border money wires, according to The Wall …

For several years, MagicCube Inc. has worked to prove that merchants can safely and speedily accept card payments with no hardware other than an off-the-shelf mobile device. Now the Santa Clara, Calif.-based company has added a new wrinkle to its strategy: agreements with device vendors that make MagicCube’s iAccept the …

Oracle Corp. launched its Retail Payment Cloud Service to support contactless payments for U.S. retailers at fixed-fee rate pricing. Mercatus Technologies Inc. debuted an updated version of its mobile grocery shopping app that includes seamless cart building and checkout, personalization, rewards and loyalty, and third-party delivery service integrations. MobileCoin Inc. launched Moby, a …

Checkout is gaining a higher profile in payments, and that’s influencing customer retention as well as a merchant’s ability to attract new customers, says a new study from Paysafe Ltd. That means modernizing checkout needs to be at the top of brick-and-mortar merchants’ to-do list in 2023, the study adds. …

Total card spending per household was up 5.9% year-over-year in 2022, according to new data from the Bank of America Institute. Kubra, which provides a payment network enabling consumers to pay bills with cash at retailers, said retailer Rite Aid joined its network, the 19th to do so. Blaze, a point-of-sale …

A technology company called Markt POS announced what it says is the first cloud-based software to handle payments and other functions exclusively for small and medium-size grocery and specialty stores. The company says more than 300 stores have signed up for the product. Iowa-based payments provider VizyPay said it has processed more than $4 …