April 24, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Digital Currency, E-Commerce, Fraud & Security, Transaction Processing
Independent sales organization Electronic Merchant Systems said it is working with Womply, a software and data-services provider for small businesses, to help merchants find lenders offering quick access to loan applications through the government’s Paycheck Protection Program, a Covid-19 relief effort.For the first time, ransomware incidents overtook payment card data when comparing the …
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April 16, 2020
Acquiring, Competitive Strategies, E-Commerce, Electronic Bill Payment, Fraud & Security, Mobile Commerce, Point-of-sale, Pricing, Transaction Processing
Saying the Covid-19 pandemic “is pushing the economy online,” e-commerce payment processor Stripe Inc. announced it has raised another $600 million through an extension of its Series G funding round. Stripe said it will use the funding “to step up product development, global expansion, and strategic initiatives.”Payments provider Clearent launched Clearent EDU, a free …
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April 15, 2020
Acquiring, Competitive Strategies, E-Commerce, Fraud & Security, Issuing/Originating, Law and Regulation, Marketing, Mobile Commerce, Prepaid Cards, Transaction Processing
U.S. retail sales for March decreased 8.7% from February, according to figures released by the Census Bureau. One bright spot was a 28% increase in sales at food and beverage stores from March 2019. Clothing and clothing accessories store sales were down 50.7%.Fidelity National Information Services Inc. (FIS) said it is supporting …
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April 14, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Marketing, Mobile Commerce, Point-of-sale, Prepaid Cards, Transaction Processing
EBay Inc. named former Walmart Inc. executive Jamie Iannone chief executive officer, effective April 27. Iannone, who will succeed interim CEO Scott Schenkel, most recently served as chief operating officer of Walmart eCommerce and was at one time chief executive of SamsClub.com. EBay indicated earlier this year it has plans to …
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April 13, 2020
Competitive Strategies, E-Commerce, Fraud & Security, Mobile Commerce, Transaction Processing
Visa Inc. is urging e-commerce merchants still using Adobe Inc.’s Magento 1 platform to upgrade to the newer Magento Commerce 2.3 because Magento will stop supporting Magento 1 at the end of June. Merchants continuing to use the older platform will fall out of compliance with the Payment Card Industry …
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April 13, 2020
Acquiring, Automated Clearing House, Competitive Strategies, Credit Cards, Fraud & Security, Mobile Wallets, Transaction Processing
The Internal Revenue Service has begun sending $1,200 stimulus payments to individuals as provided for under the CARES Act. Payments are first going to about 60 million persons for whom the IRS has bank-account information, making direct deposit possible. Others will receive checks. The process is expected to take until April 20, …
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April 10, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Mobile Commerce, Prepaid Cards, Transaction Processing
Fraud prevention firm Kount Inc. released a weekly tracker of e-commerce purchase trends. In mid-March it showed that U.S. online sales of home office furniture and electronics increased 54%.Installment payments provider Klarna Bank AB said data from consumer use of its shopping app shows that e-commerce purchases are shifting to health and beauty and …
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April 8, 2020
Acquiring, Automated Clearing House, Competitive Strategies, Credit Cards, Debit Cards, Fraud & Security, Law and Regulation, Transaction Processing
The good news is that attempted and actual payments fraud declined last year. The bad news is it went down only a tick and remains very close to the all-time high, according to the latest report from the Association for Financial Professionals, a Bethesda, Md.-based trade group for companies across …
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April 8, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Electronic Bill Payment, Fraud & Security, Mobile Commerce, Point-of-sale, Transaction Processing
Visa Inc. reportedly denied a request to delay the Oct. 1 EMV liability shift for petroleum businesses, according to a ConvenienceStoreNews.com article, which says several fuel-retailing groups petitioned Visa for the delay. Visa, the Web site said, attributing it to NACS, an association for convenience store operators, is said to be monitoring the …
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April 7, 2020
Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Mobile Commerce, Person-to-Person Payments
Losses from identity fraud grew 13% in 2019 to $16.9 billion even though instances of ID fraud fell nearly 10%, according to the newly released 2020 Identity Fraud Report from Javelin Strategy & Research. The study also found that person-to-person payments fraud increased 733% from 2016 to 2019. Based on …
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