Fraud & Security

Apple Inc.’s App Store and the Google Play store will have to open their payments services to competing providers for in-app purchases in South Korea if a recently passed bill becomes law, reported The Wall Street Journal, which also said the president’s party endorsed the legislation. Apple, in particular, has been the …

The convenience-store chain Wawa Inc. announced Monday it settled a class-action lawsuit stemming from a data breach in 2019 that was related to malware discovered on its payment-processing servers. The settlement, which is subject to court approval, resolves all customer claims related to the data breach. The malware affected customer payment card information …

BBQ Holdings Inc., owner of Famous Dave’s, Village Inn, and Granite City Food & Brewery, selected Blackhawk Network Holdings Inc. to provide online and in-store gift card products.Integrated-payments provider EngageSmart LLC announced it has filed a registration statement with the U.S. Securities and Exchange Commission for an initial public offering of its common stock.Klara, …

Fiserv Inc. announced an integration between its Clover point-of-sale technology and the business-management platform Grubhub in an effort aimed at helping independent restaurants manage and fulfill online orders.Payments provider Fattmerchant Inc. said its Stax platform is working with TimeSolv, a firm-management service for law practices, to manage billing and invoicing, and process payments, …

The cost of fraud to merchants has risen since the onset of the Covid-19 pandemic. Each $1 in fraud costs retailers in the United States $3.60 in total expenses, compared to $3.13 pre-pandemic, according to LexisNexis Risk Solutions’ “True Cost of Fraud” study for e-commerce and retail merchants. U.S. e-commerce …

Of 500 companies that process at least 500 online monthly transactions, 58% say their chargeback rates have gone up since March 2020, and of these, 45% say the biggest reason likely is delivery delays, according to a survey by fraud-prevention technology firm Kount, a unit of Equifax Inc.Payment processor EirthPay announced its launch. …

Working with fintech PayZen Inc., the Geisinger Hospital system is launching a plan that allows patients to make payments over time at zero interest. The plan requires a minimum unpaid balance of $250 after insurance payouts.Mobile-parking app provider PayByPhone said its service now works with more than 2,400 spaces across the campus of …

The overall costs of phishing attacks on businesses have nearly quadrupled since 2015, rising from average losses of $3.8 million per company in 2015 to $14.8 million in 2021, according to research from cybersecurity and compliance company Proofpoint Inc. and Ponemon Institute.Uplift Inc., a buy now, pay later provider specializing in travel, …

Western Union Business Solutions (WUBS), formerly a unit of the Western Union group of companies, will rename itself Convera upon its recently announced $910-million acquisition by Goldfinch Partners LLC and The Baupost Group LLC. Patrick Gauthier, most recently head of Amazon Pay, has been announced as chief executive of Convera, which …

When talking about crypto exchanges, it’s common to divide them into the big, stable, safe, reliable ones on the one hand, and the little, unknown, shady, and suspicious ones on the other. However, the Financial Conduct Authority (FCA), the UK’s financial regulator, seems not to have a very high opinion …