Mobile Commerce

To make modern fraud detection technology more accessible to community banks, Jack Henry & Associates Inc. late Thursday announced plans to launch early next year Financial Crimes Defender, a cloud-native platform for detecting fraud and other suspicious account activity that can hurt consumer’s financial health, as well as financial crimes, such …

Digital payments are on the rise, and so is payment fraud. As of 2020, nearly 80% of Americans used at least one form of digital payment. Between 2020 and 2021, payment fraud attacks rose dramatically on digital wallets (200%), payment service providers (169%) and crypto exchanges (140%). To keep up …

The buy now, pay later provider Affirm Inc. reported gross merchandise volume for its June quarter totaled $4.4 billion, up 77% year-over-year. For the year ended June 30, volume came to $15.5 billion, up 87%. Active merchants ballooned from 29,000 a year ago to 235,000, driven by Shop Pay Installments, an Affirm …

Visa Inc. announced late Wednesday it has now issued more network tokens than there are physical Visa cards, eight years after the launch of the Visa Token Service. With a boom in e-commerce and other digital applications, the service has now issued more than 4 billion tokens, Visa said, almost …

Systemwide contactless-fare technology, which has been available mainly for mass-transit systems in major cities, is starting to find its way into smaller towns. Cubic Corp. on Tuesday  said it will install its Umo mobility platform in buses serving the Canadian town of Sault Ste. Marie, Ontario, population 72,000. The system, …

Alphabet Inc. said it is expanding Google Wallet to six more countries, including South Africa, bringing to 45 the number of countries in which the product can be used. Google Wallet was introduced this spring as a replacement for Google Pay.Transaction processor Computer Services Inc. said it will be acquired by private investment firms Centerbridge …

Square announced early Tuesday its first integration in the United Kingdom of Clearpay, a buy now, pay later service known as Afterpay outside the U.K. and Europe. Square, the point-of-sale payments unit of San Francisco-based Block Inc., said the latest move is also its first major integration of BNPL in …

Dutchie, which develops technology for cannabis retailers, unveiled Dutchie POS, which includes a hardware terminal and point-of-sale software.In related news, point-of-sale technology vendor POSaBIT Systems Corp. announced an agreement to license its point-of-sale technology to an unnamed “large cannabis technology partner.” The agreement calls for a one-time fee to POSaBIT of $500,000, …

Digital identity, new ways to move funds, the speedy pace of innovation, and changing consumer payment preferences are all quickly altering the payments arena, suggests the latest payments report from Deloitte Consulting LLP. “The things that really stood out the most for us when we looked at the data is …

Fraud-management platform Riskified Ltd. is partnering with Aurus Inc., a payments-platform provider. The deal will enable merchants relying on the Aurus platform to know in real time across multiple sales channels whether to accept or reject an order, which in turn can potentially increase approval rates and reduce fraud costs, …