How deep fakes are hurting the payments industry

How payments players can protect themselves against deep fakes.

Feb. 22, 2022

SIM swap schemes threaten mobile payments

The FBI says SIM card swap fraud, where cybercrooks snatch sensitive data from mobile phones, is on the rise. The Federal Communications Commission is trying to do something about it, but it's not an easy crime to stop.

By Mercedes Cardona • Feb. 15, 2022

Experian debuting BNPL bureau later this year

The Ireland-based credit reporting agency said it's creating a designated bureau to handle real-time reporting of buy now-pay later data, as the installments trend becomes increasingly popular with consumers.

By Caitlin Mullen • Jan. 20, 2022

Why consumers like me are getting a barrage of credit card offers

Think it's weird that my cat got offered a credit card? That's part of the wave of offers arriving as card issuers and their processing networks seek to recover from a COVID-19 credit spending drop.

By Jonathan Berr • Jan. 12, 2022

7 payments trends for 2022 as innovation climbs

From cross-border services to BNPL to cybersecurity tools, there will be no shortage of innovation and competition in the payments industry as businesses and their regulators shape new digital tools in the wake of the COVID-19 pandemic.

By Jonathan Berr , Caitlin Mullen , Lynne Marek • Jan. 4, 2022

BNPL growth prompts change from credit bureaus

Paying in installments has become wildly popular, but many of these plans aren't reflected on consumers' credit reports. Credit agencies say adaptations are coming.

By Caitlin Mullen • Dec. 20, 2021

Feds increase scrutiny of buy now-pay later

The Consumer Financial Protection Bureau is concerned about consumers taking on too much debt, and about BNPL providers evading laws. As a result, it's demanding information from five of the biggest players in the emerging industry.

By Lynne Marek , Jonathan Berr , Caitlin Mullen • Dec. 16, 2021

Gen Zers relied on buy now-pay later for holiday shopping. It's time to pay up.

Look up #Klarna, #Afterpay or #Affirm on the social media site TikTok. Beneath some of those BNPL provider hashtags are videos of teens dancing and lip syncing to viral sounds, with the balances they owe in the background.

By Maria Monteros • Dec. 15, 2021

How Elon Musk's mood drives crypto

The world's richest man can send cryptocurrency prices soaring or plummeting depending on his mood. This year, Dogecoin has been the object of his affection, and derision.

By Jonathan Berr • Dec. 14, 2021

Card industry faces $400B in fraud losses over next decade, Nilson says

Fraud-fighting efforts kept card industry losses at bay last year, according to Nilson Report, but the research firm says don’t expect the same when this year wraps up. "The decline in the dollar amount of fraud losses in 2020 will not be repeated in 2021," the report said.

By Caitlin Mullen • Dec. 14, 2021

Crypto execs urge regulation tailored to risks

They told lawmakers at a Wednesday hearing on Capitol Hill that nothing short of U.S. leadership in the field of digital assets is at stake.

By Dan Ennis • Dec. 10, 2021

Fintech firms lock arms for new standard

Digital finance company Plaid is leading a group of fintechs, data security companies and compliance firms in developing a new standard to protect confidential consumer data from hackers.

By Jonathan Berr • Dec. 9, 2021

New York Fed, BIS partner on fintech research center

The innovation hub is meant to support the U.S. central bank's analysis of digital currencies, including CBDCs, and to help make cross-border payments faster and less expensive, Fed Chair Jerome Powell said.

By Robin Bradley • Dec. 7, 2021

Hackers sell stolen US cards at dirt cheap prices

"Even though the biggest number of card details found for sale were from these 3 countries, this doesn’t mean that they are the most vulnerable," a cybersecurity company report on the topic said.

By Jonathan Berr • Dec. 6, 2021

SEC Chair Gensler to crypto platforms: Come to us before we come for you

The SEC head called on digital asset exchanges to register with the agency, citing concerns for "vulnerable" investors. "If we don’t address these issues, I worry a lot of people will be hurt," he said.  

By Caitlin Mullen • Dec. 3, 2021

Senate banking chair queries crypto CEOs

The complexity of stablecoins makes it difficult for investors and consumers to fully understand their potential risks, Sen. Sherrod Brown, D-OH, said in letters to eight issuers and exchanges, including Coinbase and Tether.

By Anna Hrushka • Nov. 29, 2021

Enterprises prepare for ransomware threats during Thanksgiving

Retail, transportation and other sectors are bracing for heightened cyber risks during the holiday, placing renewed pressure on security operations. 

By David Jones • Nov. 24, 2021

Payment Choice Act wins bipartisan backing

New Jersey Democrat Rep. Payne is trying to preserve cash as a form of payment and collecting support across the aisle, even as the possibility of a U.S. digital dollar gains traction.

By Lynne Marek • Nov. 23, 2021

Affirm reports better outlook, sidesteps Peloton question

The BNPL payments company provided a brighter sales and revenue forecast for the fiscal year, but it skirted a question about the impact of a gloomier outlook at its long-time big customer Peloton.

By Lynne Marek • Nov. 11, 2021

Amazon will accept Venmo next year

"Pay with Venmo is one of the key revenue drivers for Venmo going forward," PayPal CEO Dan Schulman said.

By Jonathan Berr • Nov. 9, 2021

CFPB's hard line with payments industry may be a hint of things to come

Six of the biggest tech companies in the US are stepping up to meet the demands of the CFPB's new head, Rohit Chopra, regarding their payments practices.

By Jonathan Berr • Nov. 8, 2021

Toomey cautions against proposal to regulate stablecoin issuers as banks

"I think we have to really think long and hard before we put some onerous regulatory regime on a new technology," the Republican senator from Pennsylvania said.

By Anna Hrushka • Nov. 8, 2021

Valley Bank unveils payments app for cannabis businesses

Valley Bank is partnering with a large processor to offer the service, which is similar to using a reloadable Starbucks wallet gift card, Chief Digital Product Officer Stuart Cook said. A "large processor" that's involved wants to remain anonymous.

By Anna Hrushka • Oct. 27, 2021

Ransomware activity soars, Treasury finds

The number of "suspicious activity reports" filed this year has already jumped 30% over the 2020 total, and the agency has tracked billions of dollars in bitcoin payments potentially linked to ransomware.

By Samantha Schwartz • Oct. 19, 2021

Celsius, Tether and the 'known known'

Lender Celsius' admission that Tether accepts crypto tokens in exchange for stablecoins should be a bombshell. Rather, it confirms a suspicion regulators held so strongly that they've already penalized Tether for it. Twice.

By Dan Ennis • Oct. 19, 2021