Fraud & Security

The Clearing House Payments Co. LLC announced it will soon introduce tokenization for checking account and routing numbers on transactions financial institutions run over TCH’s RTP real-time payments and EPN automated clearing house networks.Of 80 mid-tier U.S. financial institutions surveyed by Volante Technologies, 37% of these not already connected to The Clearing …

Thanks to more businesses implementing fraud-prevention tools, global digital fraud decreased more than 22% during the first quarter of 2022, compared to the same period a year earlier, according to TransUnion LLC’s quarterly digital-fraud analysis, released Thursday.  On a per-category basis, financial services, telecommunications, and retail all saw declines in …

As the mass exodus of Ukrainian refugees fleeing their war-torn country continues, charitable organizations and businesses are finding new ways to provide support. Cryptocurrency exchange and blockchain-infrastructure provider Binance joined those efforts Tuesday, announcing the Binance Refugee Crypto Card. The Visa-branded debit card will allow displaced Ukrainians to make or …

With the expected introduction by the Federal Reserve next year of a commercial real-time payments platform for the United States, total instant payments in the U.S. market will rise nearly five-fold, to 8.9 billion, by 2026. That’s up from 1.8 billion last year. The dollar volume on these transactions will …

With consumers—and criminals—flocking to e-commerce, card issuers and merchants are not only experiencing a significant increase in fraud, but also in so-called friendly fraud committed by cardholders who dispute legitimate purchases after the fact. As a result, merchants’ need for stronger cardholder verification tools is growing. To address that need, …

To help its card-issuing clients keep pace with evolving risk-management and compliance issues, virtual-card issuing platform Marqeta Inc. on Thursday introduced RiskControl, a suite of risk-management, fraud-mitigation, and compliance tools it says are aimed at allowing issuers on its platform to get ahead of fraud and streamline their risk and …

Visa Inc. has spent more than $9 billion over the past five years to boost cybersecurity and reduce fraud, according to an announcement the network made in a blog post Tuesday. Of that amount, $500 million has been spent on artificial intelligence and data infrastructure. As a result of its …

Vail Resorts has selected buy now, pay later provider Uplift to allow Vail guests to pay for a pass over time with monthly installments.Discover Financial Services launched its Online Privacy Protection service on its mobile app. The service allows users of the Discover card and banking services to remove personal information from 10 …

Sila Inc., a software platform for fintechs, launched Instant Settlement, a service that offers immediate access to automated clearing house debits executed on its platform.Canada-based business-to-business payments platform Versapay announced it has closed on its acquisition of U.S.-based DadeSystems, an accounts-receivable software specialist. Terms were not disclosed.Synchrony Financial reported first-quarter net earnings of …

After setting an all-time high in 2021, data breaches show no signs of slowing down in 2022. The number of known data breaches in the United States during the first quarter of 2022 totaled 404, a 14% increase from the same period a year earlier, according to the Identity Theft …