Fraud & Security

With the Covid-19 pandemic helping fuel broad adoption of Quick Response codes by merchants for payments and ordering, it was only a matter of time before criminals exploited the contactless technology. Fraudsters are creating fake QR codes that, when scanned, take consumers to a bogus landing page that collects payment …

The Federal Reserve’s FedNow real-time payments platform will charge a monthly $25 participation fee for each receiving routing transit number, 4.5 cents per credit transfer to be paid by sender, and a penny for a request for payment message, paid by requestor. The Fed expects to release a full fee schedule later this …

On Tuesday, Plaid Inc., a bellwether of the open-banking movement, announced the availability of Plaid Portal US, a privacy tool for consumers using Plaid’s technology. The move comes as firms that connect financial-services providers with consumer-account data seek to help account owners manage how their information is distributed and used by …

Payments provider Lightspeed Commerce Inc. announced new features for its Lightspeed Restaurant point-of-sale technology, including order throttling, a feature that helps manage spikes in demand.Software firm Launch Cart said it will introduce on Feb. 2 its On-Demand eCommerce SaaS platform, intended to ease entry into e-commerce for small business owners and entrepreneurs.Payments provider Paysafe Ltd. said …

Seeing an opportunity to offer payment acceptance along with its encryption and tokenization technologies to its enterprise clients, Bluefin Payment Systems LLC has invested an undisclosed sum in payment facilitator Payfactory Inc. The investment, which will create a strategic relationship between the two companies, will enable Payfactory to expand its …

Data-compromise incidents hit an all-time high in 2021, totaling 1,862, up 23% from the previous record high of 1,506 in 2017, according to the Identity Theft Resource Center’s Annual Data Breach Report. On a year-over-year basis, the number of the compromises increased 68% in 2021, compared to 2020. The number …

The Federal Reserve’s release last week of a discussion paper exploring a central bank digital currency for the United States has evoked interest from a group that emerged two years ago to help launch just such an initiative. The Digital Dollar Project on Friday applauded the Fed’s effort and underscored …

Mastercard Inc. launched Mastercard Track Instant Pay, a platform enabling instant payment of supplier invoices via virtual card transactions supported by machine learning. The service is available in the United States now, with plans to expand globally.Nuvei Corp. has been approved by the New York State Gaming Commission to process payments for …

Mobile-payments provider Boku Inc. is selling its Boku Identity Inc. unit to cloud-communication platform Twilio Inc. for $26.1 million upfront and another $6.2 million payable later to cover indemnities.Payments provider Lightspeed Commerce said its NuOrder technology will support orders and payments for women’s fashion platform Intermix, which operates 31 boutiques and an e-commerce site.Text …

As part of its strategy to expand its offering of multichannel payment technology, payment-platform provider NMI announced Tuesday the acquisition of IRIS CRM, a merchant-services customer relationship management and merchant-management platform that services clients in the payments industry. Terms of the deal were not disclosed.  The addition of IRIS CRM …