Friday , March 29, 2024

Mobile Wallets

Processors Are Starting to Adopt AI, But Consumers May Not Be Entirely Onboard

The explosive potential that lies in recent advances in artificial intelligence is beginning to be felt in the payments business as banks and fintechs search for ways to wring intelligible trends and operational improvements out of enormous masses of data. The nascent trend toward AI in payments was underscored by …

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Eye on Acquiring: FreedomPay Lands IHG Properties and Helcim Adds a Surcharging Option

IHG Hotels & Resorts, with close to 4,000 properties, will use FreedomPay Inc.’s payment technology, the payments provider said. Meanwhile, Helcim launched its Helcim Fee Saver surcharge program. Philadelphia-based FreedomPay says its FreedomPay Commerce Platform will provide the payments functionality for multiple IHG brands, including InterContinental Hotels & Resorts, Kimpton, …

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Toast Tests a New Online Customer Fee, But Will It Stick?

Toast Inc., provider of popular payment and business-management systems for restaurants, is testing a 99-cent fee for online orders of $10 and above that the company could roll out nationwide next month. The test is generating criticism from restaurateurs on social media and debate in the merchant-acquiring industry about pricing …

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Sezzle Pay Anywhere Debuts To Broaden Sezzle’s BNPL Acceptance

As buy now, pay later use continues to grow—U.S. volume could reach $6.5 billion by 2027, one report says—provider Sezzle Inc. is taking a step it says will ensure consumers can use its installment payment service where they like to shop. It launched Sezzle Pay Anywhere, a subscription-based service that …

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Secure Technology Alliance Marks 30 Years And Other Digital Transactions News briefs from 6/23/23

JPMorgan Chase has extended its JPM Coin, a blockchain-based settlement token launched in 2019, to euro-denominated payments. More than $300 billion has been processed on the coin since its inception. Transact Campus, a payments provider specializing in colleges and universities, announced it has reached the 1-million mark for number of student mobile …

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The NFC Forum Looks to Widen the Range for Contactless Payments

A significantly longer range for contactless transactions could be a reality in the market within the next two to five years, according to news released this week by the NFC Forum, the standards body for near-field communication technology. The current standard for contactless payments is five millimeters, or about one-fifth …

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Criminals Shopping the Dark Web for Stolen Card Data Can Buy More Than Account Numbers

Criminals can purchase more than just stolen card account numbers on the so-called dark Web. A recent study by virtual private network provider NordVPN reveals that 51.5% of cards on the dark Web came with addresses, 39.8% came with phone numbers, and 28.7% came with an e-mail address. In addition, …

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Payments Apps Are Sparking More Complaints From Military Personnel, the CFPB Says

Members of the U.S. military are reporting problems with digital payments apps more frequently than the general population, and peer-to-peer payment apps account for more of those complaints than any other type of payments technology, according to data released Tuesday by the Consumer Financial Protection Bureau. The CFPB reported receiving, …

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Jack Henry Launches Fraud Detection in Real Time for a Range of Payments

Jack Henry & Associates has launched PayrailzFraud Monitor, a real-time fraud-monitoring technology for payments. The cloud-native solution, which Jack Henry describes as an enhancement to its Payrailz platform, uses artificial intelligence, machine learning, and behavioral analytics to detect payments fraud as the fraud is occurring, with a scope including peer-to-peer and …

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Blackhawk Adds Three More Betting States for its Game On Card

The new revenue opportunity associated with online gambling compels many payments companies to court gaming providers. Blackhawk Network, the prepaid card specialist, is the latest to do this with the expansion of its Game On card to Maryland, Kansas, and Wyoming. Game On cards enable consumers add funds to their …

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Digital Transactions