Fraud & Security

The Canada-based commerce platform Shopify announced it has added the payments gateway Volt, allowing Shopify merchants in Europe, the United Kingdom, and Brazil to process real-time account-to-account payments. In related news, payments platform Netevia announced updates to its banking-services features, including free account-to-account transfers. The free period extends until the end of the year. …

Mastercard Inc. Monday afternoon said it was looking into reports of problems with processing certain transactions on its network. Both Stripe, a major payments platform, and the U.K. bank Natwest reported issues, though Natwest said the problem had been resolved by day’s end. Prepaid card provider Paysign said it completed issuer certification with …

Restaurant point-of-sale technology provider Toast Inc. has signed an agreement with Marriott International Inc. to make its Toast for Hotel Restaurants product available in the hotelier’s Select service hotels in the United States and Canada. A report from Mastercard Inc. indicates the proportion of cash-only customers in Latin America has dropped from 45% three …

Chargebacks911 is setting the stage for an e-commerce world full of ever-increasing digital payment—and chargebacks, a frequent challenge to management. To help, it is bringing on two payments veterans, one who oversaw merchant acceptance at Apple Pay and another who led merchant services at Bank of America Corp. Eric Hoffman, …

The Securities and Exchange Commission sued cryptocurrency exchange Coinbase, alleging the company operates as an unregistered broker. The suit comes on the heels of a similar SEC action against Coinbase competitor Binance. U.S.-based stablecoin platform Circle Internet Financial LLC said its Circle Singapore affiliate obtained a Major Payment Institution license from the Monetary …

Some 80% of U.S. consumers say they have used a peer-to-peer payment service at least once, while two-thirds report having used a mobile wallet in the past year, according to the 2023 State of Payments report from card-issuing platform Marqeta Inc. The study surveyed 4,091 consumers in February, including 2,013 in the …

J.P. Morgan launched its Payments Partner Network, a cloud-based online marketplace for payments providers integrated with the banking giant’s payments platform. The marketplace’s technology is supported by Salesforce. Five-year-old cryptocurrency-wallet provider Magic raised $52 million in a funding round led by PayPal Ventures. The round brings Magic’s total raise to $80 million. Digital …

ACI Worldwide Inc. named Thomas Warsop its president and chief executive effective June 1. Warsop continues to be a member of ACI’s board of directors, which he joined eight years ago. He had served as interim president and CEO since November following the departure of Odilon Almeida, who held that role since …

So-called friendly fraud is a growing problem for many merchants. A report from chargeback-management firm Chargebacks911 reveals that nearly three quarters of the 300 merchants surveyed have seen a 19% increase in illegitimate chargebacks on average so far in 2023 compared to the same period last year. At the same …

Despite the increasing popularity of buy now, pay later loans, some BNPL providers could do a better job when it comes to providing consumer protections, such as disclosing fees and enabling consumers to manage their data and privacy settings, a study by Consumer Reports found. When it comes to the …