- Amid stay-at-home and social-distancing orders, 40% of consumers say they will shop online more in the future than in-store, while 45% are using a mobile wallet and 16% are using paper currency less, according to a survey of 1,030 consumers by Fidelity National Information Services Inc. (FIS). Some 31% will use contactless or mobile payments instead of cash even as restrictions ease. The survey was conducted April 3-5.
- Criminals are following consumers in the shift to digital commerce with a 76% increase in credit card fraud in the telecommunications industry, said TransUnion in its quarterly fraud analysis that compared the period from Jan. 1 to March 10 against the March 11 to April 28 period. March 11 is when the World Health Organization declared the Covid-10 infection a pandemic. Overall suspected fraudulent digital transactions increased 5% for the period.
- MoneyGram International Inc. said its digital transfers grew 81% in April compared to the same month last year, up from a 57% growth rate in the first quarter. As a result, digital payments accounted for 28% of all money transfers for the company at the end of April.
- Payments provider Fattmerchant launched Omni Connect, its platform to aid software companies to become payment facilitators.
- Cross River Bank, which provides a banking-as-a-service platform for technology companies, said digital-remittance provider Remitly is the first client to use the bank’s expanded push-to-card capability over the debit card networks. The service enables near real-time transfers.
- Smart.vet, a telehealth platform that allows veterinarians to treat animals and take payments at a distance, has been adopted by more than 200 clinics globally in the past few weeks in response to social-distancing restrictions.
- Private-label debit provider ZipLine said it received PCI-DSS Level 1 certification from the PCI Security Standards Council.
- Bluefin Payment Systems LLC said software developer VanillaSoft will offer Bluefin’s point-to-point encryption service to its customers.
- PayPal Holdings Inc. successfully raised nearly $4 billion via the corporate bond market, reported MarketWatch.com.
- Connie Loveland, chief financial officer and treasurer at Fidelity Bank in Leominster, Mass., has become board chair for the New England Automated Clearing House (NEACH), succeeding Laurance Selnick, senior vice president at Webster Bank, Waterbury, Conn., who will remain on the board.
Criminals Favor Cryptocurrency And Digital Skimming for Fraud Tactics, a Visa Report Says
Cybercriminals showed no signs of slowing down in 2022 as they employed a variety of …