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- Data-services provider Womply announced Womply Engage, a customer relationship management service for small businesses that enables merchants to create and manage email marketing programs.
- In an effort to address data breaches in the financial-services industry, the Accredited Standards Committee X9 Inc. said it is seeking experts for an initiative to create a standard for data protection and breach response.
- Victims of identity fraud reached a record high in 2017, at 16.7 million, according to the latest edition of an annual report from Javelin Strategy & Research. Also, for the first time, theft of Social Security numbers was greater than that of credit card numbers.
- In an online survey last summer about payments fraud that garnered responses from 283 financial institutions, the Federal Reserve Bank of Minneapolis found that 63% of respondents reported fraud losses increasing on debit cards in 2016 compared to 2015, and 41% said fraud rose on credit cards. The most common frauds were counterfeit cards used at the point of sale and fraudulent use of account numbers online. Seventy-seven percent of financial institutions that offer check services experienced fraud in 2016, as did 24% of the institutions that offer automated clearing house services.
- Independent sales organization Aliant Payment Systems announced it now offers processing services for transactions made with Litecoin, a digital currency. Earlier, Aliant announced payments services for merchants accepting Bitcoin.
- Processor Fidelity National Information Services Inc. (FIS) reported a $781 million tax benefit in the fourth quarter because of the Tax Cuts and Jobs Act that President Trump signed into law in December. The benefit boosted FIS’s quarterly net income to $988 million from $207 million a year earlier even though revenues declined 4.7% to $2.33 billion.
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