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ACH Alert Thwarts $615 Million in Fraud and other Digital Transactions News briefs
April 18, 2016

Fidelity National Information Services Inc. and The Clearing House Payments Co. LLC announced they will launch a pilot for real-time payments in the first quarter of next year. The system will focus initially on bill payments and will use FIS technology along with The Clearing House's real-time payment platform.

ACH Alert said its system monitored $80 billion in electronic transactions and stopped $615 million in fraudulent payments in 2015. Its system works by enabling financial institutions to send alerts to customers when it detects suspicious activity, allowing the customer to stop the transaction.

Billing and payment processing firm Transactis said it received $30 million in a Series E funding round provided in equal amounts by five big banks: Capital One, Fifth Third, PNC, TD, and Wells Fargo.

Mobile-commerce developer Moovweb released data that found that the average m-commerce shopping cart abandonment rate is 69%, and 17% do so because of concerns about payment security.

ParkHub, a company whose technology allows parking-lot attendants to accept electronic payment, announced a partnership with venue-management platform VenueNext under which parking data will be fed into VenueNext's system to allow venue managers to have better control over customer flow.

Main Street Softworks Inc. announced its TranSafe payment gateway for connecting point-of-sale, e-commerce and mobile applications to the major merchant acquirers; the gateway is built on Main Street's Monetra platform.

Processor Payment Savvy announced a new service that allows utilities and phone companies to add a "convenience fee" for credit card payments.

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