Nacha, the governing body for the automated clearing house network, has approved a new set of rules aimed at curbing the growing threat of credit-push fraud. Credit-push fraud uses social engineering and email phishing attacks to deceive someone into sending funds to a criminal-controlled account. Common examples of credit-push fraud …

Zelle, the peer-to-peer payment network operated by Early Warning Services LLC, announced late Monday a 28% increase in transaction volume in 2023 and that the fourth quarter of 2023 was its single largest quarter based on volume since its launch in 2017. Overall, Zelle handled 2.9 billion transactions totaling $806 …

With money mule activity on the rise, Nacha, the governing body for the automated clearing house network, has released an infographic to educate consumers about unwittingly becoming money mules. Money mules help criminals launder money from online scams, fraud or crime, such as human and drug trafficking, unknowingly or knowingly. …

Decentralized finance (DeFi) is revolutionizing the way consumers and businesses handle their financial affairs, offering an innovative alternative to traditional, centralized financial systems. This transformation is creating a dynamic financial landscape where both traditional finance methods and DeFi coexist, encouraging real-time, transparent, and secure digital payment solutions. This evolution presents …

Digital Transactions celebrates its 20th birthday with a review of the 10 major themes that continue to preoccupy the industry. When publishers start a magazine, whether in print or online—or both—there’s simply no way to tell how long it will last. There are too many unpredictable factors. But the publishers …

By Dave Galens As these December days blur into a holiday haze and the year comes to a close, it’s time to look back on 2023’s memorable events for NAB. It was a very good year for the robots, as automation and AI became the big buzz for pundits and …

Visa Inc. reported $8.6 billion in net revenue for its December quarter, up 9% year-over-year, on $3.9 billion in credit and debit card volume, up 7.8%. Apple Inc. announced changes to iOS, Safari, and its App Store to meet European Union rules, including new options on its App Store to use payment …

Despite its formidable reach, the social-media platform X faces a steep climb to achieve its goal of launching a peer-to-peer payments service, according to payments experts. X, formerly known as Twitter, announced in a blog post earlier this week its plans to add P2P payments to its platform this year …

The U.S. Department of Justice announced late Friday it is filing cases against several fraud rings that use so-called microtransactions to mask their fraudulent activity from victims and card issuers. The lawsuits are being brought as part of efforts by the Justice Department’s Consumer Protection Branch to stop criminals that …

Navy Federal Credit Union reported it took in more than $2.7 million in real-time deposits on its first full day of real-time payments service on The Clearing House Payments Co.’s Real Time Payments (RTP) network. Shift4 Payments said it will process ticket and in-venue concession sales for the Baltimore Ravens National Football League …