Person-to-Person Payments

The number of cryptocurrency hacks globally reached 190 last year, setting a new annual record and exceeding 2021’s total by 44%, according to Comparitech. The value stolen totaled $3.57 billion, exceeding the combined total for 2019, 2020, and 2021. Some 82% of senders of remittances across borders said the cost of living has risen …

A fraud ring that appears to be based in Southeast Asia is targeting U.S. retailers and has already committed an estimated $660 million in fraud in stolen laptops, cell phones, computer chips, gaming devices, and other goods just in November, said Signifyd, an online-fraud prevention firm. Signifyd said it has been tracking …

Some 12% of U.S. customers have lost money to fraud on a peer-to-peer payment network, while 11% have seen it happen to a family member, according to survey results released earlier this month by J.D. Power. The networks cited by the respondents were Zelle, Venmo, and PayPal. For the survey, …

Payments-technology provider Finastra said Mechanics Cooperative Bank, a financial institution with $645 million in assets, has adopted the Finastra Payments To Go platform to offer real-time payments via The Clearing House Payments Co. LLC and later through the Federal Reserve’s FedNow network. Digital-security provider IronVest Inc. launched what it calls a “super app” for …

As financial institutions look to revamp their payment strategies, peer-to-peer payments are expected to play a key role, says a report from Cornerstone Advisors. During the past three years, nearly 30% of community-based financial institutions have replaced their P2P service or selected a new one, and about one in five …

Customers new to using Zelle, the peer-to-peer payment network operated by Early Warning Services LLC, have higher levels of engagement with their financial institutions than customers not using Zelle. That’s according to a recent study conducted by Early Warning and Curinos, a provider of data and technology technologies to financial …

Not all countries, companies, and persons will suffer equally from inflation in 2023, as Europe will see a decline in economic activity while the U.S. market will experience limited economic growth, forecasts the Mastercard Economics Institute. Food-service provider Sodexo North America’s InReach unit has contracted with payments provider Cantaloupe to upgrade 18,800 vending machiens and …

Jitters about the economy and the impact of the FTX implosion may have combined to clobber the cryptocurrency market, but new data shows that app downloads peaked as long as a year ago. In fact, downloads of crypto trading apps from the App Store, and Google Play, along with direct …

The messaging app Clickatell added updates to its Chat Commerce Platform, including a new integration of Chat 2 Pay, which allows travel brands to accept payments as part of business messages. The card-issuing platform Marqeta Inc. announced it has integrated Mastercard Track Instant Pay, which enables immediate payment of supplier invoices. The virtual-card platform Extend announced …

An ongoing controversy regarding consumer losses to authorized but fraudulent transfers on the Zelle peer-to-peer platform has stirred at least some of the country’s biggest banks to work out a range of solutions, including wider adoption of scam defense and detection technology, sources tell Digital Transactions News. This development comes …