Australian financial regulators might intervene to stop banks from automatically routing contactless debit card payments to the Visa and Mastercard networks and instead give merchants the option of using the country’s EFTPOS network, Reuters reported.RevSpring Financial Services, a provider of collections-support services for health-care firms and other companies, debuted eVokePay, a payment …

With payments fraud growing every year, the pressure is on in markets worldwide to adopt more sophisticated technology to verify the identity of mobile users. Against that backdrop, the winning technology is fingerprint recognition, with facial-recognition systems presenting a fast-growing alternative, according to the latest study from United Kingdom-based Juniper …

Loyalty apps are great, but they badly need a technology overhaul. By adding artificial intelligence, retailers can step up customer engagement and convert more sales. As brick-and-mortar retailers battle for foot traffic and sales, there is good news for them. Gen Z, the first truly digitally native generation, were strolling …

PINs are past their prime. Signatures? Forget it. With criminals increasingly on the prowl, much more robust technology is needed. The good news is such tech is available. But will consumers tolerate it? Despite a now almost 3-year-old decision by the four major U.S. card brands to make signatures optional …

Bank of America Corp. next year will enhance Erica, its popular digital financial assistant powered by artificial intelligence, with two new features—one to make its credit and debit card holders aware of which merchants might be storing their card numbers, and another that will issue alerts about possible duplicate charges. …

Processor Fidelity National Information Services Inc. (FIS) announced it has integrated IBM Corp.’s Safer Payments tool for its peer-to-peer payments products. Safer Payments relies on artificial intelligence and machine learning to sift through transactions for signs of fraud.Catch Hospitality Group, which operates the Catch NYC and Catch Steak restaurants, said it discovered malware on …

There are hundreds of cybersecurity companies offering products designed to protect us from identity theft by requiring us to prove our identity through biometrics and unscripted behavior. These products claim efficacy against today’s threats. Many of them even grow and prosper as they defeat a great deal of contemporary fraud. …

With card-based transit payments picking up steam in the United States, a key Mastercard Inc. executive said Thursday that 22% of the network’s physical-world transactions globally were contactless as of the end of 2018. The time to complete a contactless transaction is down to 0.4 seconds, added Ajay Bhalla, president …

From back offices to the point of sale, and from digital wallets to the blockchain, fintechs are fomenting a revolution in loyalty and rewards. Here’s how that’s playing out—and where it’s heading. By Maria Arminio and Bo Berg Bank and merchant card issuers are looking for ways to distinguish their …

As merchants, consumers, and financial institutions contend with the aftereffects of unceasing data breaches, Visa Inc. is adding new products to help prevent and disrupt payment fraud. Announced Tuesday, the roster of new products include Vital Signs, which monitors transactions and alerts financial institutions to signs of potential fraudulent activity …