While account takeover is a major concern for financial institutions and merchants, many underestimate the cost as well as the frequency of attacks, says a report released Thursday by Arkose Labs, a San Francisco-based provider of fraud-prevention technology. Indeed, one of the costliest aspects of account takeovers is the loss of …

With more merchants embracing omnichannel sales strategies that blend brick-and-mortar and e-commerce shopping, Blackhawk Network Inc. is enabling merchants to sell digital gift cards in-store.  With Blackhawk’s eGift card platform, merchants can engage customers at multiple marketing touchpoints throughout the store, such as gift card racks and gift card displays …

With global economies expected to re-open as more consumers receive Covid-19 vaccinations, in-store retail spending will hit $22.8 trillion worldwide in 2022. That’s after in-store sales fell 7% in 2020 as many consumers shifted purchases online. The projection comes from London-based Kaleido Intelligence Ltd.  While the Covid-19 pandemic impacted in-store …

Thirteen months ago, processors were on cruise control when it came to servicing merchants. Then, the pandemic struck and upended their business model. How have they adapted to the new normal? For payment processors, the past 12 months have given a whole new meaning to the phrase “dynamic industry.” The …

The attack on TSYS last December was a sobering reminder of the vulnerability of payments companies to this insidious fraud. But there are steps you can take to protect your network. Criminals are businessmen, too, which is why they are always looking for ways to maximize the return on their …

Online account debiting has grown in usage and prominence as consumers and businesses turn to e-commerce in the face of the coronavirus pandemic. But now many businesses are reckoning with a rule that will take effect in March that requires sellers using the automated clearing house to perform more rigorous …

Research from Inmar Intelligence found that 53% of shoppers used a mobile contactless payment option for the first time since the start of the pandemic. Additionally, most—55%—of the 1,000 respondents surveyed said they have been avoiding using cash in general in the same period. A full 28% will avoid retailers not offering …

Konnect Solutions Inc. introduced a mobile-payments service for restaurants that allows customers to pay inside or in drive-throughs by choosing the restaurant’s local WiFi wireless access point to view a menu, place an order, and access the restaurant’s point-of-sale system. They can pay on their phone or use options offered by …

ACI Worldwide Inc. said its real-time payments platform, UP Immediate Payments, has added application programming interfaces to ease integration with mobile wallets, e-commerce portals, bill-pay apps, social-media payments, and other applications.Payments provider Klarna AB said it has an agreement with musical-instrument maker Fender to provide a payment option offering four equal installments on …

Fiserv Inc. and the former head of an independent sales organization will pay $40.2 million to settle charges brought by the Federal Trade Commission stemming from alleged illegal actions committed by the ISO from 2012 to 2014 while it obtained processing services from First Data Merchant Services, whose parent company …