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- Zelle, the person-to-person payment service from Early Warning Services LLC, said it will launch a consumer education campaign video series this month to help educate consumers how to spot and avoid financial scams, specifically imposter scams. Zelle, in a statement to Digital Transaction News, also said most Zelle transactions—99.9%—are without any reported fraud or scams. Zelle implemented on June 30 a reimbursement for some scams. “Our bank and credit union participants must reimburse consumers for qualifying imposter scams, such as when a scammer impersonates a bank to trick a consumer into sending them money with Zelle. The change ensures consistency across our network and goes beyond legal requirements. To avoid tipping off fraudsters, no additional details will be shared,” an Early Warning spokesperson said in August to Digital Transactions News.
- AppTech Payments Corp. posted $140,000 in third-quarter revenue, a 21.8% increase from $115,000 in the year-ago quarter. AppTech, which acquired Alliance Partners LLC in October, had a quarterly loss of $2.9 million compared with a year-ago loss of $2.8 million.
- Restaurant spending at downtown neighborhoods in U.S. cities has only recovered to 72% of pre-pandemic activity as of Sept. 30, found the quarterly Square Restaurant Industry Report. In a revenue diversification move, restaurants are turning to subscription plans. Square found 54% growth year-over-year in food-and-drink merchants with active buyer subscriptions.
- PayRange Inc., a payments-technology provider for vending and laundromats, said it has integrated PayPal and Venmo as funding sources in its wallet. The move applies to the U.S. market only.
- A startup called VerityPay launched a service that lets businesses send payments, such as insurance payouts or refunds, through SMS or text into customers’ digital wallets.
- Zil Money launched an application that allows employers to make payroll and earn rewards by charging a credit card.
- Fraud-prevention specialist Feedzai said it will provide its services to CoreCard, an international provider of prepaid transaction services.
- Mastercard Inc. signed a memorandum of understanding with NEC that will see NEC’s face-recognition and liveness-verification technology combined with Mastercard’s tech for a biometric-checkout program in the Asia-Pacific region.
- Ant International said it will focus strategically on cross-border transactions for its Alipay+ mobile-payments service, which it says is live with 88 million merchants and has 1.5 billion consumer accounts in 57 countries and regions.
- Guy Harris, who had been head of merchant services at Bank of America Corp., joined the board of advisors at TSG, a payments-advisory and analytics firm.
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