Friday , June 5, 2020

News

January, 2020

  • 27 January

    As Ransomware Spreads, Ransoms Balloon And Attacks Grow More Sophisticated

    The criminals behind ransomware attacks are becoming dramatically bolder. The average payment demanded in fourth-quarter attacks reached $84,116, more than double the average sum in the third quarter, according to the latest data from Coveware Inc., a Westport, Conn.-based cybersecurity firm that tracks data from cases it has handled. Worse …

  • 27 January

    Visa Backs Currency Cloud and other Digital Transactions News briefs from 1/27/20

    Visa Inc. is among backers of an $80-million investment in Currency Cloud Ltd., whose software runs cross-border payments for financial apps, primarily in Europe. The funding round, co-led by Visa and SAP’s venture-funding unit Sapphire, included backing from Google. The funding follows Visa’s $5.3-billion deal to acquire Plaid, whose software enables fintechs …

  • 24 January

    Despite Increasing Adoption, There’s Room for Improvement in Mobile Deposits, Study Finds

    Mobile remote deposit capture has made big gains in recent years, but there’s still room to improve the service, according to new survey findings. Deficiencies in financial institutions’ mobile-capture offerings include error identification and tracking, unclear notices of funds availability, and overly restrictive risk-control policies, according to Ron Shevlin, director …

  • 24 January

    Eye on Earnings: Wall Street Rewards AmEx But Punishes Discover After Seeing Fourth-Quarter Results

    Photo by Rick Tap on Unsplash

    Two bellwether payments stocks headed in opposite directions Friday morning as they reported financial results for the fourth quarter. Discover Financial Services saw its share price swoon 7.41% in pre-market trading. By mid-morning, it stood at $77.94, down 9% from its Thursday close. AmEx shares on the other hand had …

  • 24 January

    New York City Bans Cashless-Only Payments at Restaurants and Retailers

    New York City became the third U.S. city to ban cashless-only payments in restaurants and stores with the passage Thursday of a measure to prohibit merchants from refusing to accept cash. San Francisco and Philadelphia have similar bans, as does the state of New Jersey.  Originally proposed by New York …

  • 24 January

    WEX Makes Two Acquisitions and other Digital Transactions News brief from 1/24/20

    WEX Inc., a processor in the fleet-fueling and corporate transaction market, said it has agreed to acquire eNett, a business-to-business payments software company specializing in the travel market, and Optal, a specialist provider of B2B transactions, for approximately $1.275 billion in cash and approximately 2 million shares of WEX common …

  • 23 January

    PayPal Strikes Acceptance Deal With UnionPay

    In another move solidifying its emboldened links with Chinese payments providers, PayPal Holdings Inc. announced Wednesday it will support UnionPay International in its digital wallet. Eventually, UnionPay International, whose financial-institution members have issued more than 7.5 billion cards globally, according to China Daily, will look for ways to support PayPal’s …

  • 23 January

    The Clearing House To Raise RTP Transaction Limit to $100,000

    The Clearing House Payments Co. LLC, operator of the Real Time Payments network, said Thursday that it will raise the RTP transaction limit from the current $25,000 to $100,000 effective Feb. 1. Steve Ledford, TCH senior vice president of product strategy and development, tells Digital Transactions News the limit is …

  • 23 January

    BMO Harris Bank Adds Zelle for B2C Payments and other Digital Transactions News briefs from 1/23/20

    BMO Harris Bank has made Zelle person-to-person payments available to its commercial clients, which can use Zelle to pay individuals without requiring banking information needed for ACH transactions. BMO Harris Bank says it is one of only eight banks to offer Zelle as a business-to-consumer service.Commerce Bank said insurer Progressive will use CommercePayments PreferPay for …

  • 22 January

    Two Standards Bodies Consolidate Separate PIN-Acceptance Security Specs Into One

    Payment firms that are used to choosing which PIN standard to audit against now have a much simpler choice. The Accredited Standards Committee X9 Inc. and the PCI Security Standards Council have created a unified PIN Security Standard, replacing separate ones each organization previously maintained. The consolidation, announced Tuesday, should …

Do NOT follow this link or you will be banned from the site!