Some 47% of U.S. adults have reported identity theft over the past two years, while the fraud’s toll ballooned to $712.4 billion in 2020, up 42% from 2019, according to a report released Tuesday by Aite Group, a Boston-based research and consulting firm, and sponsored by Giact, an Allen, Texas-based …

Payments provider Priority Technology Holdings Inc. announced it has agreed to acquire Finxera Holdings Inc., a provider of banking-as-a-service technology. Terms were not announced for the transaction, which is expected to close in the third quarter.Mastercard Inc. said it is expanding its Engage platform to digital first deployment, assistance and training through the …

Customer experiences and expectations are rapidly evolving as people and businesses seek out slicker financial apps and services that are embedded deeper into our software applications. This explosion of new experiences is largely enabled through application programming interfaces (APIs). Seeing a new opportunity here, many financial institutions are investing in …

Cash purchases fell to historic lows in 2020 as consumers shifted their payment preferences to contactless technologies such as mobile wallets, according to the 2021 Global Payments Report by Worldpay from FIS Inc. Cash transactions represented just 20.5% of global point-of-sale volume in 2020, down from 30.2% 2019, according to …

Thanks to the proliferation of such financial-service technologies as mobile wallets and peer-to-peer and e-cash payments, especially during the Covid-19 pandemic, financial-technology providers are closing the gap on unbanked and underbanked consumers’ access to financial services, according to a report from the Electronic Transactions Association. One example cited in the …

Mobile marketing specialist Vibes said brands sent 400% more mobile messages for buy online pickup in store and buy online pickup at curbside services in the 2020 fourth quarter than they did in the 2019 fourth quarter. Vibes predicted that both pickup options will continue to grow 45% in 2021.London-based digital payouts …

Among its many impacts, the coronavirus pandemic has simultaneously interrupted and accelerated a slew of business trends. To see this dynamic in action, look no further than the investment pattern of the middle market over the last two years.  When we set out to track how middle-market companies have been …

Buy now, pay later specialist Klarna AB raised $1 billion in an oversubscribed equity funding round that pegged the company’s valuation at $31 billion. Major U.S. clients include Macys, Etsy, Sephora, Ralph Lauren, and Urban Outfitters.In related news, BNPL provider Splitit Payments Ltd. announced its merchant sales volume increased almost 180% in 2020 to …

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 …

People who cover financial services got all excited when JPMorgan Chase chairman and chief executive Jamie Dimon said a bad word (which the transcript politely says is “indiscernible”) in describing his feelings, during the company’s fourth-quarter earnings call, about technology companies getting into banking. But in the midst of the …