N26 Inc., the U.S. unit of German bank N26 GmbH, launched its mobile-banking app that includes MoneyBeam, a person-to-person payment service between N26 bank customers. Accounts also include a Visa debit card.Merchant processor Net Element Inc. said its Unified Payments subsidiary is providing Internet of Things payment services in the property-management market …
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A Plague of Ransomware Targets Texas Cities
More than a score of Texas cities have been hit with ransomware, crippling their municipal computer systems and accounting for one-third of all municipal ransomware attacks so far this year, according to Armor Defense Inc., a cloud-security company. It released a ransomware report Tuesday. Among the latest cities is Borger, …
Read More »Credit and Debit Cards Gain Ground on Cash for Small Purchases
Cash may still be king among consumers for purchases of $10 or less, but its market share is steadily being eroded by credit and debit cards, says an annual survey from CreditCards.com. The most recent edition of the survey, released late last week, reveals that 43% of respondents with rewards …
Read More »Financial-Services Firms Find Favor Among Phishers
A new report about online security finds that 50% of phishing domains that researchers tracked mimicked the Web sites of financial-services companies. The findings come from the “State of the Internet/Security” report released Wednesday by Cambridge, Mass.-based Web-services provider Akamai Technologies. Forever a favorite of criminals, banks and other financial …
Read More »100 Million Capital One Accounts Hacked and other Digital Transactions News briefs from 7/30/19
Major credit card issuer Capital One Financial Corp. said it detected a data breach this month in which an intruder gained access to records affecting 100 million persons in the United States and 6 million in Canada. Affected data included such information as names, addresses, Zip Codes, and dates of birth, though …
Read More »Mastercard Jumps Into the Anti-Ransomware Fight by Joining Europol’s NoMoreRansom Initiative
Mastercard Inc. has become the first payment card network to join the NoMoreRansom initiative sponsored by Europol, a support-services organization for law-enforcement agencies in the European Union. Europol says the 3-year-old NoMoreRansom public-private partnership project has helped 200,000 ransomware victims recover their computer files free of charge and has prevented …
Read More »A Survey Exposes Consumers’ Ambivalence on Voice-Activated Payments
Whether most consumers will ultimately use Alexa or Siri or some other voice-activated device to make purchases may depend crucially on how much money is at risk. As it turns out, slightly more than half of U.S. consumers would be comfortable using the technology to pay for relatively small-ticket goods …
Read More »How IDs Invented out of Whole Cloth Have Become a Fast-Growing Scourge in Payments
Synthetic identity fraud has become the fastest-growing and one of the most difficult financial crimes to detect in the United States, says a white paper released this week by the Federal Reserve. Lenders in the United States lost $6 billion to synthetic identity fraud in 2016, with the average chargeoff …
Read More »Priority Unit Joins Billtrust Network and other Digital Transactions News briefs from 7/11/19
Business-to-business payments specialist Billtrust said Priority Commercial Payments, a unit of Priority Technology Holdings Inc., joined the Billtrust Business Payments Network. Mastercard Inc. said it is collaborating with OpenText, an enterprise information-management firm, on a business payments service and initially is targeting the automotive industry. Mastercard also said it is …
Read More »Visa Contactless Payments Scores at Women’s World Cup Venues and other Digital Transactions News briefs from 7/5/19
Visa Inc. released data indicating 51% of all purchases across nine stadiums in France hosting the group stage of the FIFA Women’s World Cup France 2019 were done with contactless cards or devices, including wearables and smart phones. The group stage of the soccer tournament ran from June 7 to …
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