Fraud & Security

More than a year after Visa Inc. launched the Visa Acquirer Monitoring Program, acquirers and their vendors are adapting to the new way of keeping tabs on fraud and chargeback levels. Known as VAMP, the program, according to Visa, consolidated five fraud and dispute programs and reduced 38 distinct remediation processes …

Whereas identity theft once appeared to be a single event related to a stolen credit card number, fraudulent charge, or compromised financial account, fraud victims increasingly are reporting multiple incidents once they learn they’ve been victimized, according to new research from the Identity Theft Resource Center. In its latest annual …

Fraud-prevention specialist Feedzai announced Feedzai IQ Score, an AI-native scoring service to measure fraud risk for banks. Braid FI, which develops payments technologies for banks, announced an agreement with Koard, a specialist in in-person payments, to help financial institutions offer tap-to-pay capability on mobile phones. Xplor Pay, an embedded-payments technology provider, has …

A perpetual bane of payments, chargebacks create issues for merchants and their payment providers. Now, Findustry AI Inc. hopes its new artificial intelligence-enabled Chargeback Agent product will help ease the work of complying with card-brand dispute processes. Led by Jonathan Razi, who sold CardX, a surcharging-services provider, to Stax in 2021, …

The FIFA World Cup, set for June 11 to July 19, is expected to drive increases in transactions but also in ticketing and payment fraud, warned payments processor Spreedly, citing a 36% rise in fake-ticket fraud in the months leading up to the event, as reported by Lloyds Bank. Brightwell has renamed …

MoneyGram has launched a U.S. dollar stablecoin called MGUSD, furthering its move into blockchain technology for payments. Soar Payments LLC, also known as SoarPay, announced the publication of “High Risk Merchant Accounts 101,” a guide to processing payments for high-risk and regulated businesses. Fifth Third Bank launched Report Phishing, a feature in …

Payments fraudsters are embracing not just the transaction, but the associated elements of a transaction, such as exploiting account creation and changes prior to the payment. That’s one reason Accertify Inc. launched its Predictive Yes Platform. Itasca, Ill.-based Accertify says the new platform addresses these issues by combining identity, behavioral, …

Some 73% of online merchants are not ready for AI agents, while AI agents are at least in some cases recommending “unreliable merchants,” according to research from Ballerine, a specialist in merchant risk and compliance. The company conducted 47 interviews among card networks, acquirers, merchants, AI platforms, and payment service providers. …

Experian plc, most known among consumers as a credit-reporting agency, says it is collaborating with processor Fiserv Inc. on Experian Link, a service to make it easier for merchants to verify a consumer’s identity with debit card ownership data. Announced Wednesday, the cooperative endeavor will see Fiserv’s proprietary debit card …

Business-to-business billing and revenue management platform Maxio LLC said credit card surcharging is now available in its Maxio Payments service. Payments platforms Ordr and FreedomPay said they are collaborating to create a gateway and commerce platform for companies offering live entertainment around the world. Payments platform NCR Voyix Corp. said it is working with U.S. Bank’s …