Risk

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    Real-time payments scams rise

    More people are falling for real-time payment scams as the use of such speedy systems increases, a FICO survey showed. 

    By • Nov. 22, 2024
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    Poike via Getty Images
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    Scams ensnare even sophisticated consumers, Fed says

    Criminals leverage advanced technology to make so-called mule accounts that pass as humans and persuade consumers to send money to scammers, a Kansas City Fed paper says.

    By • Nov. 18, 2024
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    Opinion

    Payments players should embrace digital currencies

    “Emerging currencies, digital assets, and even next-generation fiat options could be integrated thoughtfully, allowing companies to access new markets,” writes one industry chief revenue officer.

    By Ryan Miller • Nov. 15, 2024
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    Young people fall prey to payments fraudsters

    Debit and credit card users under 40 years old are more likely than older peers to experience fraud in making payments, a recent J.D. Power survey found.

    By • Nov. 12, 2024
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    LD via Getty Images
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    FTC sues fintech Dave over marketing, fees

    The Federal Trade Commission filed a complaint Tuesday alleging the fintech rarely disbursed the advertised loan amount and charged consumers a “tip” without giving them the ability to opt out of it.

    By Rajashree Chakravarty • Nov. 7, 2024
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    Cross River drops lawsuit against Fiserv unit

    The Fort Lee, New Jersey-based lender dismissed a lawsuit that it had filed against First Data Merchant Services last year. 

    By Rajashree Chakravarty • Nov. 7, 2024
  • A graphic showing a photo of a mobile phone showing an open app. Text in the app says "Flexa" and "pay Sheetz $15.57" above a scannable code. Illustrations of a dollar bill and lightning bolt .
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    Sheetz accepting crypto at all locations

    After a limited trial run, customers can now use several popular digital currencies to buy items at all of the East Coast retailer’s 750-plus locations.

    By Jessica Loder • Nov. 5, 2024
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    DOJ’s Visa lawsuit could affect Capital One-Discover review

    If the Justice Department were to block the Capital One-Discover deal while also going after Visa, “they’d be intellectually inconsistent,” a George Mason University law professor said.

    By Caitlin Mullen • Nov. 5, 2024
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    Stablecoins face obstacles to widespread adoption

    The digital currencies could simplify cross-border payments, but consumers are wary of using them, payments and fintech executives say.

    By • Nov. 4, 2024
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    Poike via Getty Images
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    Opinion

    Is the FTC targeting chargeback service providers?

    “For better or for worse, applying pressure to payments organizations to ferret out bad-merchant actors seems to be an effective way for the FTC to make private industry police the merchant marketplace,” writes an industry lawyer.

    By Edward A. Marshall • Nov. 1, 2024
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    AI increases fraud risk, fintechs say

    Financial firms monitor for fraud by looking for unusual activity, but an artificial intelligence model can be trained to transact like a real person.

    By • Oct. 31, 2024
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    BofA discloses CFPB probe of Zelle payments

    Bank of America is responding to a Consumer Financial Protection Bureau inquiry related to the bank’s processing of electronic payments through Zelle, the lender disclosed in a regulatory filing.

    By Caitlin Mullen • Oct. 30, 2024
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    Justin Sullivan via Getty Images
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    Visa CEO stands fast against DOJ

    Visa CEO Ryan McInerney took a defiant stance Tuesday regarding the Justice Department’s lawsuit against the card network company.

    By • Oct. 30, 2024
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    Industry balks at FDX standard-setting monopoly

    Regulators and industry participants worry that FDX will have an unfair monopoly and will advantage its own members if no other organization applies.

    By • Oct. 24, 2024
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    Stock via Getty Images
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    Payments trade groups caution World Bank on digital infrastructure

    U.S. payments associations urged the World Bank this week to consider interoperability and private sector involvement in its development of a digital public infrastructure.

    By Tatiana Walk-Morris • Oct. 24, 2024
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    Michael M. Santiago via Getty Images
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    Goldman, Apple to pay CFPB $89.8M over Apple Card issues

    The bank and tech firms failed to address disputed transactions in their joint Apple Card program, and misled cardholders about interest-bearing products, the bureau alleged.

    By Gabrielle Saulsbery • Oct. 23, 2024
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    Stripe to buy stablecoin company Bridge for reported $1.1 billion

    The CEOs for Stripe and Bridge confirmed the news on the social media platform X on Monday, but offered few details on the deal.

    By • Oct. 21, 2024
  • A sign that reads "Discover" marks the entrance to the card company's headquarters in Illinois.
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    Scott Olson / Staff via Getty Images
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    Discover discloses SEC accounting criticism

    The federal agency disagrees with the way the card network is allocating card misclassification charges, Discover said in its third-quarter earnings report.

    By • Oct. 17, 2024
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    Courtesy of Mastercard
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    Payments players tap M&A to build tech stacks

    The Fed’s recent interest rate cut could spur even more deal-making in the remaining months of the year and into 2025. Mastercard, Global Payments and Payoneer are among the companies that have bought businesses this year.

    By Shefali Kapadia • Oct. 16, 2024
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    More authentication leads to fewer approvals

    Research from payments software firm Stripe shows credit and debit card transactions using an advanced security tool are less likely to be approved.

    By • Oct. 15, 2024
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    Treasury official calls for new regulatory framework

    The department’s undersecretary for domestic finance, Nellie Liang, suggested state oversight of money transmitters was outdated in an era of electronic payments.

    By • Oct. 11, 2024
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    New York Governor signs gun code law

    Gov. Kathy Hochul signed a new law Wednesday requiring merchants to use a gun code, saying it could help prevent mass shootings.

    By • Oct. 10, 2024
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    MoneyGram attack exposed sensitive customer data

    The attack led to a days-long outage in September. The money transfer firm hasn’t described the nature of the incident or said how many people have been impacted.

    By Matt Kapko • Oct. 9, 2024
  • U.S. Attorney General Merrick Garland stands at a podium with hands lifted, shrugging with a smirk.
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    Visa expected to temper competitive moves after DOJ action

    The card network may bend to emboldened fintech rivals and more assertive merchants following the Justice Department’s antitrust lawsuit.

    By • Oct. 3, 2024
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    P2P payments tools lack transparency, consumer group says

    Zelle, the popular peer-to-peer payment service, and rivals should be more upfront with consumers about the ability to ask for money back, Consumer Reports says.

    By • Oct. 2, 2024