Transaction Processing

Fraud-control executives and researchers predicted card-not-present fraud would boom when the U.S. converted to EMV chip cards a few years ago, and, sure enough, it did. But if the experiences of other countries that adopted EMV before the U.S. are any guide, Americans can take relief in that CNP fraud …

The Litecoin Foundation said the Miami Dolphins National Football League team named Litecoin its official cryptocurrency. The digital currency will be accepted for payment for ticket purchases in the team’s 50/50 raffle. Bitcoin also may be used for these ticket purchases. Citigroup Inc. reported $93.2 billion in second-quarter purchase volume …

Microsoft Corp. will stop supporting its Windows 7 operating system next January, and that’s set off the latest dash by ATM deployers to convert to the next OS while there’s still time. For most deployers, that’s Windows 10, but some might be in a better position to meet the deadline …

The nation’s automated clearing house network went on a tear in the quarter ended June 30, notching its highest growth rate since 2008 thanks to double-digit growth for key categories like Internet payments and business-to-business transfers. Total volume for the quarter came to 6.1 billion transactions, an increase of 7.7% …

Likening Amazon Prime Day, which takes place July 15-16, to Black Friday and Cyber Monday, threat-detection firm Cyberint warns that so-called threat traffic will run 30% higher than usual in the days leading up to, including, and shortly after Prime Day, in line with the volume experienced during the holiday …

With merchants facing a projected 16.4% increase in U.S. card-not-present fraud by 2021, many are relying more and more on automated screening tools to cull bad transactions from the pile of good ones. That’s the assessment from Aite Group Inc. in its report, “The E-Commerce Conundrum: Balancing False Declines and …

Synthetic identity fraud has become the fastest-growing and one of the most difficult financial crimes to detect in the United States, says a white paper released this week by the Federal Reserve. Lenders in the United States lost $6 billion to synthetic identity fraud in 2016, with the average chargeoff …

Amazon Prime Day is set for next week, and by all accounts Amazon.com Inc.’s online and in-store shopping frenzy is likely to be a payments-palooza. The event, which despite its name is set to cover two full days—July 15 and 16—this year, will generate $5.8 billion in sales, with $3.6 …

Business-to-business payments specialist Billtrust said Priority Commercial Payments, a unit of Priority Technology Holdings Inc., joined the Billtrust Business Payments Network. Mastercard Inc. said it is collaborating with OpenText, an enterprise information-management firm, on a business payments service and initially is targeting the automotive industry. Mastercard also said it is …

As the gig economy grows, so does workers’ need for quicker access to their wages than they can get through traditional payroll schedules. To facilitate faster delivery of wages to gig and hourly workers, Mastercard Inc. has partnered with Memphis, Tenn.-based Evolve Bank & Trust to push wages in real …