News

July, 2023

• 17 July

  Two States Are Among the First Paysafe Will Serve Via the Betr Betting App

  

  As online sports betting and iGaming continue to grow, Paysafe Ltd. has struck another deal with a betting app. Announced Monday, its agreement with Betr, a sports-betting app from social-media influencer Jake Paul, will serve Paysafe customers in Ohio and Massachusetts. Betr launched in Ohio in January and in Massachusetts …
• 17 July

  Chopra in Talks with EC Counterpart And Other Digital Transactions News briefs from 7/17/23

  

  The Consumer Financial Protection Bureau said informal discussions between Rohit Chopra, CFPB director, and Didier Reynders, commissioner for Justice and Consumer Protection of the European Commission, have started on a range of financial consumer protection matters, including the deployment of AI in decision making, BNPL products and their risks, consumer debt issues, …
• 14 July

  Olo Adds Kiosk Payments And Other Features for Restaurants

  

  Olo Inc., a software-as-a-service platform provider for restaurants, rolled out several enhancements, including the ability for customers to place orders and pay for them using the Olo Pay application at in-restaurant kiosks. Enabling in-restaurant payments at kiosks marks the first availability of card-present payment processing through Olo Pay. Olo developed …
• 14 July

  Commentary: Five Years of Open Banking: Embracing a New Path Forward

  

  Open banking, the system enabling seamless sharing of financial data via application programming interfaces between banks and third-party service providers, has captured global attention over the past several years. In 2018, the Second Payment Services Directive (PSD2) marked the official open-banking era by mandating data sharing in Europe. This milestone paved …
• 14 July

  Adyen Completes FedNow Testing And Other Digital Transactions News briefs from 7/14/23

  

  Adyen NV said it has become one of the earliest payments providers to finish testing and receive certification on the Federal Reserve’s FedNow real-time payments service, set to launch later this month. The payments platform Flywire is working with Tencent Financial Technology to allow Chinese students to use WeChat Pay to make education-related payments while …
• 13 July

  Financial Services Is the Most Targeted Industry in Phishing Attacks

  

  Financial services was the most impersonated industry by criminals launching phishing attacks during the first half of 2023, according to a report from cybersecurity firm Vade. Financial services accounted for more than 33% of all phishing URLs, followed by the social media (22%) and cloud (21%) industries. Phishing is the …
• 13 July

  A Regional Fed Official Sees FedNow Consolidating Networks And Adding P2P

  

  With the Federal Reserve’s rollout of the FedNow real-time payments service expected by the end of the month, a regional Federal Reserve Bank official on Wednesday outlined a roadmap for the new network that includes network interoperability, the possible addition of peer-to-peer payments, and, overall, the prospect of fewer payment …
• 13 July

  SoundExchange Adds PayPal, Venmo And Other Digital Transactions News briefs from 7/13/23

  

  Music-technology provider SoundExchange announced it is adding PayPal and Venmo as options for royalty payments to registered creators. The two payments channels join CashApp and Zelle as payout options on the platform. Tulip, a point-of-sale technology provider for retailers, said it will incorporate payments services from Stripe Inc. Dollar General announced DG Cash …
• 12 July

  Car IQ Partners With Visa to Enable In-Car Payments

  

  Car IQ Inc., a payment-platform provider for vehicles, has partnered with Visa Inc. to enable acceptance of its Car IQ Pay wallet for automobiles across the Visa network. San Francisco-based Car IQ’s wallet can be used by fleet operators, car-sharing services such as Zipcar, and ride-sharing services such as Uber. …
• 12 July

  Early 2023 Data Breach Volumes Surpass Most Recent Full Years

  

  As digitalization of payments information continues to permeate society, the allure of getting a hold of that data illicitly is unabated. Already, for the first half of 2023, the number of U.S. data compromises is higher than the total compromises for every full year between 2005 and 2020, except for …