Fraud & Security

The card-issuing platform Marqeta Inc. on Wednesday reported processing volume of $40 billion for the June quarter, a 53% increase over the same time last year, but the 12-year-old company also announced its founding chief executive is leaving that position. Jason Gardner, a well-known payments entrepreneur, said he will move …

The cost of fraud to U.S. merchants increased 4.2% in 2022, up from $3.60 to $3.75 for every dollar lost to fraud. That’s the latest from the 2022 edition of the LexisNexis Risk Solutions “True Cost of Fraud Study: Retail and Ecommerce” report released Tuesday. The metric had been $3.13 …

American Express Co. launched American Express Global Pay, a digital payment service to enable U.S. businesses to make domestic and international business-to-business payments. Eligible U.S. AmEx Small Business cardholders can fund payments from their business bank accounts to suppliers in more than 40 countries with a dozen currencies.RevoluGroup Canada Inc., a payments-technology provider, …

First American Payment Systems has agreed to a proposed federal court order requiring the processor to repay $4.9 million to small businesses affected by what the Federal Trade Commission called deceptive practices, according to the FTC. The settlement, announced Friday, was made in the wake of charges by the FTC …

The consolidation of the payment-processing business continues apace, driven by economies of scale and the challenges of keeping up with emerging technology. In the latest deal, which is expected to close in the first quarter of next year, Global Payments Inc. announced early Monday it will acquire EVO Payments Inc. …

Regpack, a payment management platform, said NYLA Talent, a network of more than 100 entertainment industry professionals and organizations, adopted its service to automate and digitize its payment processes.Early Warning Services LLC has opened a new headquarters in Scottsdale, Ariz. Owned by seven of the nation’s biggest banks, Early Warning is …

PayGround, a payments fintech specializing in health care, completed a $5.5-million funding round led by FCA Venture Partners and Lewis & Clark Ventures. The financing follows a $4-million seed round for PayGround last year.Chargebacks911 said its partnership with FIS Inc.’s Worldpay unit now includes Disputes Deflector, a set of chargeback and …

With a pair of U.S. Senators preparing to introduce a bill that would allow merchants to process Visa and Mastercard credit card payments over other networks, payments experts reached by Digital Transactions News are sharply divided on the idea. The bipartisan bill, sponsored by Richard Durbin, D-Ill., and Roger Marshall, …

The proliferation of plug-and-play software has revolutionized the computing experience, mostly for good. But bad actors, too, are able to take advantage of the plug-and-play experience and purchase malware kits that require little to no coding expertise, which can retail for less than $10, according to a new report from …

The issue of consumer losses to fraud on peer-to-peer payment apps is about to get hotter as the Consumer Financial Protection Bureau is reportedly preparing a probe of the matter. The bureau’s action will likely include new requirements for banks to reimburse consumers victimized in cases where they sent cash …