Tuesday , July 23, 2024

Fraud & Security

Blackhawk Boosts Plastic to Paper Switch and other Digital Transactions News briefs from 7/23/24

Prepaid card platform Blackhawk Network said it is broadening to global coverage its support of an initiative by Mastercard Inc. to convert plastic prepaid cards to paper-based materials. The collaboration began last year in the U.S. and Canadian markets. Point-of-sale and payments software provider Sound Payments said it completed an integration with two Equinox …

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Aurus To Integrate Paze’s Checkout Tech and other Digital Transactions News briefs from 7/19/24

Payment-processing software provider Aurus Inc. said it will work with Early Warning Services LLC to integrate EWS’s Paze online checkout technology, with Aurus user Wakefern Food Corp. having already adopted Paze. Cash App will leave the United Kingdom market, having launched there in 2018, it announced in a Web post. The service will shut down …

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Data Compromises Have Dipped, But The Running Total Remains Scary

Instances of data compromise in the United States were down in the second quarter, but the good news pretty much ends there, according to information released early Wednesday by the Identity Theft Resource Center. Cybercriminals pulled off 732 total compromises online in the second quarter, a total that was down …

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U.S. Bancorp Merchant Revenue up and other Digital Transactions News briefs from 7/17/24

U.S. Bancorp generated $454 million in merchant processing services revenue in the second quarter, up 4.1% from $436 million in the year-ago quarter. Private-label card specialist Synchrony Financial posted $3.7 billion in second-quarter revenue, up 12.1% from $3.3 billion in the 2023 second quarter. Net income of $643 million increased 13% from $569 …

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Wirex’s Crypto Tie-in to Cards and other Digital Transactions News briefs from 7/15/24

The U.K.-based payments platform Wirex said it will work with Visa Inc. to integrate digital currencies with Visa cards in the U.K. and European Economic Area. As part of the collaboration, Wirex said it is launching Wirex Pay, a service aimed at easing use of both traditional money and cryptocurrency. Payment gateway Freedom …

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BNPL Satisfaction High and other Digital Transactions News briefs from 7/11/24

A survey from credit-reporting agency TransUnion indicates 89% of U.S. consumers who have used buy now, pay later programs are satisfied or very satisfied with the service. The survey canvassed 1,200 consumers in the second quarter. Some 53% of non-users indicated they’d be likely or very likely to use BNPL if the …

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Skim Swipe’s POS Role and other Digital Transactions News briefs from 7/9/24

Wireless and cybersecurity developer Berkeley Varitronics Systems Inc. launched Skim Swipe, a tool that can help detect card skimmers hidden in point-of-sale terminals. Galileo Financial Technologies, a payments-technology platform, announced it is offering wire-transfer capability via an application programming interface that links clients of Community Federal Savings Bank to the Federal Reserve’s …

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Despite Exposure, AU10TIX Says There’s No Malicious Activity From Stolen Credentials

Allegations that sensitive identification data managed by Israel-based AU10TIX could have been accessible outside of verified access are not fully accurate, AU10TIX says. The suggestion of a possible data exposure comes from a 404 Media report that says online administrative credentials were exposed for more than a year, according to …

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Debit Cap Suit Can Proceed and other Digital Transactions News briefs from 7/1/24

The U.S. Supreme Court ruled a lawsuit challenging the Federal Reserve’s 2011 debit card cap as too high can move forward. The suit, brought in 2021 by a North Dakota truck stop, had been opposed by banks as having been filed too late. Downloads of digital-identity apps will grow 126% worldwide, …

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Will Travel; Payroc’s Deal With i3 Verticals and other Digital Transactions News briefs from 6/27/24

Payments provider Payroc WorldAccess LLC has agreed to pay $440 million to acquire the merchant-of-record payments business of i3 Verticals Inc., a provider of software and services to public and private companies. Afterpay, a buy now, pay later platform and part of Block Inc., said 82% of BNPL users said the service …

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