Fraud & Security

The average ransomware demand soared 70% to $4.24 million last year, while the average payment was up 36% to $682,702. Meanwhile, phishing remains the leading root cause of data-security incidents, accounting for 30%, according to the 12th annual “Data Security Incident Response Report” released late Thursday by the law firm …

Block Inc.’s Square point-of-sale payments unit will provide terminals, kiosks, and kitchen-display systems and process payments for Steak Escape, a 23-location fast-food chain.  Visa Inc. said it has worked with Pinwheel, a platform for in-app bill management, to launch its Enhanced Subscription Manager service, aimed at helping consumers track and manage recurring charges. …

Bluefin Payment System LLC, an Atlanta-based company specializing in payments security at the point of sale, late Wednesday launched BluePOS, payment software designed for point-of-sale devices from PAX Technology Inc. The new technology, which uses Bluefin’s PayConex gateway, signals a move by the company to develop new products completely in-house …

Visa Inc. announced its Enhanced Subscription Manager service, part of the network’s Digital Issuer Solutions unit. Developed in collaboration with Pinwheel, a provider of in-app bill-management technology, the service aims at helping consumers track and manage recurring payments. Visa also said it will serve as one of 40 super validators on the …

With nearly three-quarters of major U.S. banks reporting an increase in fraud losses last year, developers of fraud-prevention technology are scrambling to offer solutions. In the latest example, the Portugal-based technology company Feedzai has announced RiskFM, a tool the company says replaces a singular reliance on card-network data with information …

AI in retail applications is expected to generate $500 billion in incremental volume by 2030, according to the “2026 Global Unified Commerce Benchmark for Specialty Retail” report from Manhattan Associates. The report relies on research among more than 400 specialty retailers in global markets, including North America. Arguing that AI agents …

As online traffic powered by artificial intelligence explodes, businesses are struggling to differentiate between legitimate and fraudulent agentic commerce agents, says a study by AI-based fraud-prevention platform provider Darwinium. Some 97% of businesses report an increase in AI-based fraud attacks in the past year, the report says. Among these businesses, …

Early Warning Services LLC said Citi, a unit of Citigroup Inc., will offer Paze, the Early Warning online checkout service, to its cardholders. They can activate Paze via Citi.com, the Citi mobile app, or on Paze. Celero Commerce said it acquired substantially all of the assets of Petroleum Processing Solutions. The acquisition …

New York City-based payments and corporate card platform Ramp Business Corp., said it has acquired Juno, a platform that offers travel arrangements for non-employee travel. Terms were not announced. Ramp’s deal for Juno was preceded by its Friday announcement that it has acquired Billhop, a payments provider licensed in the United Kingdom …

Payment-software developer BHMI announced enhancements aimed at supporting debit processing in Canada on its Concourse Financial Software Suite, touching on settlement, reconciliation, dispute management, and reporting capabilities. Indiana has become the first state to impose a ban on cryptocurrency kiosks, alleging the machines have been used to steal millions of dollars from scam …