Monday , September 16, 2019

Allied Wallet Settles With the FTC and other Digital Transactions News briefs from 7/19/19

  • The Federal Trade Commission said payment processor Allied Wallet, its CEO and owner Ahmad “Andy” Khawaja, and two company officers agreed to settle FTC charges that they assisted numerous scams by knowingly processing fraudulent transactions that took more than $110 million from consumers’ account.
  • The two-day Amazon Prime Day event this week sold more than 175 million items, more than Black Friday and Cyber Monday combined, Amazon.com Inc. said. Prime Day was 12 hours longer this year than the 2018 event.
  • Property-management software provider Rentec Direct said it added a cash-payment feature from PayNearMe to its software, enabling landlords and property managers to accept cash rental payments on the Rentec Direct platform.
  • The Western Union Co. said it has enabled global money transfers on KEB Hana Bank’s mobile app, leveraging Western Union’s global payout network for the Korean bank’s foreign national customers.
  • Crypto.com, a Hong Kong-based cryptocurrency-payments platform, said it has begun shipping its MCO Visa prepaid card to the U.S. The card’s issuer is Metropolitan Commercial Bank. Foris Inc. is the program manager. Users must convert crypto holdings to U.S. dollars before loading the card.
  • Discover Financial Services added Jennifer L. Wong, chief operating officer at Reddit Inc., to its board of directors.

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