Fraud & Security

Payments provider Nuvei Corp. closed on its previously announced $1.3-billion deal to acquire Paya Holdings Inc. Nuvei will release fourth-quarter and full-year 2022 results on March 8. Earlier this week, Paya released figures indicating its 2022 payments volume totaled $49.5 billion, with 2022 revenue of $282.7 million and net income of $8.3 million. Processor Evertec …

Stripe Inc. late Tuesday announced the launch of its Enhanced Issuer Network to help merchants reduce fraud and false positives and increase authorization rates. Card issuers within the network, which include Capital One Financial Corp. and Discover Financial Services, can incorporate Stripe Radar fraud scores into their own authorization tools. …

Instances of card skimming were up in the United States in 2022, with more than 161,000 impacted cards identified, a five-fold increase over 2021, and a more than three-fold increase in the total number of cards compromised, according to FICO (formerly Fair Isaac Co.). In addition, 3,000 unique financial institutions …

Early Warning Services LLC, operator of the Zelle peer-to-peer payments network, is celebrating a year just passed in which both dollar volume and transactions processed rose at double-digit rates. But the company also has its eye on promising markets like small businesses and on countering charges from U.S. Senators about …

Zelle, the peer-to-peer payment network operated by Early Warning Services LLC, reported Thursday that consumers and businesses sent 2.3 billion in payments totaling $629 billion through the network in 2022. On a year-over-year basis, transaction volumes through Zelle increased 26%, and total transaction value increased 28%. Small businesses continue to be …

A bill designed to allow merchants to have a choice of networks for routing credit card transactions failed to pass last year, but now international tensions could affect the proposed law’s prospects in the new Congress. The bill, called the Credit Card Competition Act, would mandate that merchants have a …

Cost surprises at checkout are the leading cause of cart abandonment, with 57% of consumers saying they walked away from checkout at least once in the past year because of unexpected delivery costs, according to a wide-ranging shopping report released by point-of-sale technology provider Verifone Inc., which surveyed 995 respondents globally. Price …

The Merchants Payments Coalition released a letter it sent to the House Financial Services Committee arguing the Credit Card Competition Act should be enacted to block what the merchant-advocacy group calls a “national security threat” from China UnionPay, a China-based credit card network. The House committee has scheduled a hearing for this morning on “Combatting the …

Card-issuing platform Marqeta Inc. closed on its acquisition of Power Finance Inc., a credit card management service. The $275-million deal was announced Jan. 30. U.S. semiconductor maker MKS Instruments Inc. reported it is investigating a ransomware attack that happened last week, according to Reuters. The company said it is temporarily suspending operations at some its plants. A group …

Contactless payments have taken off in the United States and other markets in recent years, but now a piece of malware has emerged that can block wave-and-pay or tap-to-pay transactions and force users to insert their cards in a terminal instead, according to a new report by the Moscow-based global …