Mobile Commerce

Mitek Systems Inc., a provider of identity-verification technology, is teaming up with DarkTower, the cyber-intelligence division of Davidson, N.C.-based IT consultancy Queen Associates, to combat account fraud and identity theft. The partnership grew out the increasing role criminal marketplaces on the dark Web are playing in account and check fraud, …

Jack Henry & Associates Inc., one of the earliest participants in the Federal Reserve’s nascent FedNow real-time payments platform, said early Monday it is “operationally ready” to support the service when it launches commercially in July. The Monett, Mo.-based processor said more than 20 client institutions are set to connect …

Capchase, which provides funding to software-as-a-service companies without requiring them to give up an ownership stake, has launched a buy now, pay later financing option that allows SaaS vendors to collect the full contract value for their applications while providing customers with flexible payment terms. Capchase developed the BNPL payment …

Online merchants today are faced with a difficult dilemma. They often operate with limited resources, which is especially true for independent retailers with smaller budgets. To expand their businesses, these merchants must carefully manage their financial and human resources, especially in the highly competitive world of e-commerce. So, here’s a …

Point-of-sale terminal maker PAX Technology Inc. released its Elys Workstation, a configurable POS device. It features a 14-inch screen, front-facing camera, and operates on the Android system. It can be paired with multiple PAX payment acceptance terminals. PayPal Holdings Inc.’s stock has traded in the mid-$60s range for days following a plunge early …

Mid-size payments processors have contended with a pandemic, a sharply rising cost of funds, and pronounced inflation over the past few years, but that hasn’t stopped them from capturing volume, particularly from the small and medium-size merchants that have long been their specialty. In results reported early Thursday, Alpharetta, Ga.-based …

ABI Research forecasted the number of physical, instantly issued payment cards globally will grow to 471.1 million shipments in 2027 from 243.2 million in 2022. Citicorp’s Citi Retail Services unit introduced its Citi Pay line of services, with the first product consisting of Citi Pay Credit, a digital credit card. An installment-loan product will …

The major restaurant point-of-sale technology provider Toast Inc. early Wednesday reported revenues of $819 million for the first quarter of 2023, a 53% increase over the same period a year earlier. Recurring revenue for the quarter totaled $987 million, a 55% increase from a year earlier. In addition, Toast grew …

It’s a laurel, of sorts, that financial firms would like to rebuff. They sustained the largest share of phishing attacks in the fourth quarter, accounting for 27.7% of all attacks, followed by the broad “other” category at 18.2%, and webmail, software-as-a-service at 17.7%. That’s according to the Phishing Activity Trends …

Real-time payment fraud is on the rise, even before the expected July launch of the Federal Reserve’s FedNow service. Some 71% of financial institutions reported an increase in consumer account takeover fraud using real-time payment networks from 2021 to 2022, according to a February and March survey of financial-institution executives internationally …