Fraud & Security

ATM and payment-services provider Paramount Management Group LLC acquired CAI—The ATM Company, an independent deployer with thousands of ATMs in New Jersey, New York, Connecticut and other states. Terms of the acquisition were not disclosed. A partnership between Transaction Network Services and P97 Networks has processed in-dash fuel payments for …

Two ATM trade groups said Monday they are working together to assure their members get access to banking services in what the associations believe is a risk-averse financial climate. The National ATM Council Inc. and the ATM Industry Association said they signed a memorandum of understanding to jointly develop a …

On the heels of a robust holiday shopping season come some sobering statistics. The recently released 2018 “True Cost of Fraud” study by LexisNexis Risk Solutions shows a 35% increase in fraud for midsize to large e-retailers over 2017. In the retail sector, the monthly average of fraudulent transactions jumped to 306 from …

Hamburger chain The Wendy’s Co. announced a $50 million settlement of class-action lawsuits filed against it after a data breach that began in 2015. The 7,500 bank and credit-union plaintiffs alleged the breach was caused by malware that affected point-of-sale systems at more than 1,000 franchised Wendy’s locations. Some 18 …

The number of U.S. merchant locations accepting EMV chip cards grew nearly 15% in 2018 while EMV payment transactions rose 27%, according to new data from Visa Inc.  In its latest report on the conversion of U.S. general-purpose payment cards from magnetic stripes to EMV chips, Visa says 3.1 million …

JPMorgan Chase & Co. will within a few months begin testing its own cryptocurrency for wholesale payments between corporations and banks globally, according to CNBC. The new token, called JPM Coin, will be exchangeable at the rate of $1 each. The development may surprise some observers, given the harsh criticism …

E-commerce and payment-services provider Shopify Inc. said fourth-quarter gross payment volume hit $5.8 billion, up approximately 65% from $2.3 billion a year earlier. The net loss narrowed to $1.5 million versus $3 million in 2017’s fourth quarter. Merchant acquirer Elavon in partnership with American Express Co. unveiled a service intended …

As if retailers and merchants didn’t have anything else to worry about, a malware threat called IcedID wants to set itself off as a special type, says a researcher at IBM Corp. In a blog post released Wednesday, the researcher says the criminal gangs using IcedID—disovered and named by IBM …

Mastercard Inc. named Paul Stoddart, who had been CEO of Vocalink after Mastercard acquired the U.K.-based real-time payments firm in 2017, as president, New Payment Platforms, effective March 1. Stoddart will oversee development of Mastercard’s real-time capabilities beyond traditional card-based services, including Vocalink, the Homesend joint venture, and Mastercard Send. …

Point-of-sale technology provider Revel Systems released two new product lines, Revel Enterprise, for multilocation businesses, and Revel Essentials, aimed at restaurants and businesses with 20 or fewer locations. Shift4 Payments renamed its payment-management platform Lighthouse Transaction Manager. Formerly Dollars on the Net, the service enables merchants to access transaction reporting, …