Fraud & Security

As criminals increasingly target real-time payments networks with fraud scams, ACI Worldwide Inc. on Monday announced the launch of its proprietary Network Intelligence Technology as part of its ACI Fraud Management platform. The new technology enables banks, processors, acquirers, and networks to augment fraud-prevention strategies by allowing them to share …

One of the most prominent examples of the so-called Internet of Things is the ability to make payments from the dashboard of a car, no mobile device needed. And now a forecast has arrived indicating the number of such transactions worldwide will balloon from 87 million this year to 4.7 …

The Western Union Co. named Devin B. McGranahan as its new chief executive, replacing Hikmet Ersek, who is retiring at the end of 2021. Ersek’s 21-year Western Union career includes the past 11 years as CEO. McGranahan comes to the money-transfer giant from processor Fiserv Inc. where he most recently was …

Cryptocurrency platform Bakkt Holdings Inc. reported $9.1 million in revenue for the quarter ended Sept. 30, up 38% year-over-year. The company’s net loss expanded 61% to $28.8 million. Bakkt has recently formed partnerships with Mastercard Inc. to allow banks to issue crypto-linked credit and debit cards and with Fiserv Inc. for a future integration …

Klarna AB said it is extending its Pay in 4 buy now, pay later service to subscriptions, the first time BNPL has been offered to this segment of the economy, according to the company.Payfare Inc., a specialist in instant payouts to gig workers, reported its user count rose 37% in the …

Presto, a provider of payment tablets for the restaurant industry, said it will go public through a merger with Ventoux CCM Acquisition Corp., a special purpose acquisition company. The deal values the combined company at an estimated $1 billion. Presto, whose clients include major brands like Applebee’s and Outback Steakhouse, …

Digital payments have been moving to the automobile dashboard for some time, and now the latest development is user authentication. Visa Inc. and the big automaker Daimler AG are planning to launch so-called native in-car payments starting next spring, according to an announcement early Monday. The new capability will replace …

Payments provider Lightspeed Commerce Inc. reported revenue for its quarter ended Sept. 30 of $133.2 million, up 193% year over year. The number includes contributions from recent acquisitions, including NuOrder, Vend, Upserve, and ShopKeep.FreedomPay Inc. said restaurant chain Shake Shack will use its Touchless Commerce service at more than 200 locations. This will …

Amazon.com Inc. said its Amazon One technology, which scans customers’ palms to process payments, is now available at more than 70 Amazon physical stores, Whole Foods stores, and third-party locations.Merchant acquirer Shift4 Payments Inc. released a business update indicating its volume for October was 80% higher than the same month in 2020, with the number …

[UPDATED TO REFLECT A STATEMENT FROM PAX] A report released on Tuesday detailing a raid by federal investigators at a Florida warehouse linked to Pax Technology Inc. has stunned the payments industry and left some observers concerned about the big point-of-sale device maker’s reported reaction to allegations its technology was …