News

June, 2023

• 21 June

  Criminals Shopping the Dark Web for Stolen Card Data Can Buy More Than Account Numbers

  

  Criminals can purchase more than just stolen card account numbers on the so-called dark Web. A recent study by virtual private network provider NordVPN reveals that 51.5% of cards on the dark Web came with addresses, 39.8% came with phone numbers, and 28.7% came with an e-mail address. In addition, …
• 21 June

  Payments Apps Are Sparking More Complaints From Military Personnel, the CFPB Says

  

  Members of the U.S. military are reporting problems with digital payments apps more frequently than the general population, and peer-to-peer payment apps account for more of those complaints than any other type of payments technology, according to data released Tuesday by the Consumer Financial Protection Bureau. The CFPB reported receiving, …
• 21 June

  Tyfone Readies for FedNow And Other Digital Transactions News briefs from 6/21/23

  

  Digital-banking platform Tyfone Inc. said it will work with One Credit Union to offer a real-time payment service certified for FedNow, the national real-time payments system that the Federal Reserve is expected to launch next month. Jane Technologies Inc. introduced a point-of-sale system customized for cannabis stores. Smart Pay has launched its Smart Pay …
• 20 June

  Jack Henry Launches Fraud Detection in Real Time for a Range of Payments

  

  Jack Henry & Associates has launched PayrailzFraud Monitor, a real-time fraud-monitoring technology for payments. The cloud-native solution, which Jack Henry describes as an enhancement to its Payrailz platform, uses artificial intelligence, machine learning, and behavioral analytics to detect payments fraud as the fraud is occurring, with a scope including peer-to-peer and …
• 20 June

  Blackhawk Adds Three More Betting States for its Game On Card

  

  The new revenue opportunity associated with online gambling compels many payments companies to court gaming providers. Blackhawk Network, the prepaid card specialist, is the latest to do this with the expansion of its Game On card to Maryland, Kansas, and Wyoming. Game On cards enable consumers add funds to their …
• 20 June

  KKR in PayPal BNPL Buy up And Other Digital Transactions News briefs from 6/20/23

  

  The global investment firm KKR has agreed to purchase up to 40 billion euros ($43.7 billion) in loan receivables generated by PayPal Holdings Inc. in its buy now, pay later programs in France, Germany, Italy, Spain, and the United Kingdom. The transaction is said to include “substantially” all of the European BNPL loan portfolio …
• 19 June

  Following the U.S., ACI Launches Real Time Payments in Europe And the U.K.

  

  ACI Worldwide Inc. has launched its Instant Pay real-time payment solution in Europe and the United Kingdom. The move comes against the backdrop of a regulatory push in Europe mandating that financial institutions across the Single Euro Payments Area (SEPA) countries in Europe offer instant payments under the SEPA Instant …
• 19 June

  A No-Contract Smart POS Terminal from Helcim Debuts

  

  Helcim Inc., a Calgary, Alberta-based payments provider, launched its Helcim Smart Terminal, which it says carries no contract or monthly fees. The device, which uses the Android operating system, is priced at $349 (C$429) and will be available this summer. Among its technical capabilities is a built-in printer, a large …
• 19 June

  Citcon’s Shoplazza Tie-in And Other Digital Transactions News briefs from 6/19/23

  

  Merchants using the Shoplazza online-commerce platform can accept payments via Citcon’s technology following an integration between the two companies. A Swiss-Israeli company called Okoora launched Automatic Business Currency Management, an integrated platform for global payments, banking, and risk management. The 10-year-old cryptocurrency-payments platform Wyre said it is shutting down and advised users to withdraw their assets …
• 16 June

  Senators Cramer And Menendez Take Aim Again At Protecting Cash Purchases

  

  For decades, payments providers have sought to displace cash by attempting to move merchants toward card-based and digital payments, arguing that they are faster, more convenient, and more secure to accept than cash. Now they are finding that proponents of cash acceptance are pushing back. Late Thursday, legislation was reintroduced …