Risk: Page 3

  • Man leans over laptop with head in hand looking at credit card.
    Image attribution tooltip
    Butsaya via Getty Images
    Image attribution tooltip

    US credit card balances climb to $1.14 trillion

    Consumer credit card debt delinquencies are also on the rise, particularly among younger consumers, according to a New York Federal Reserve report.

    By Tatiana Walk-Morris • Aug. 8, 2024
  • Stack of credit cards spread out
    Image attribution tooltip
    bernie_photo via Getty Images
    Image attribution tooltip
    Q&A

    Credit card delinquencies rise even as credit limits are extended

    The two developments stem from greater use of credit cards, and could have implications for some businesses, says a Bain & Company analyst.

    By • Aug. 6, 2024
  • Two people walk past a Chase bank branch.
    Image attribution tooltip
    Spencer Platt via Getty Images
    Image attribution tooltip

    JPMorgan threatens to sue CFPB over Zelle

    The bank flagged government inquiries over its handling of P2P disputes in May, and said Friday it would consider litigation if the agency issues an enforcement action.

    By Dan Ennis • Aug. 5, 2024
  • Business, technology, internet and networking concept. Young businessman working on his laptop in the office, select the icon Fraud prevention on the virtual display
    Image attribution tooltip
    putilich via Getty Images
    Image attribution tooltip
    Q&A

    How artificial intelligence can improve payments fraud prevention

    Generative AI could help spot fraudulent patterns in transaction data and reduce the cost of processing payments, says a McKinsey consultant.

    By • July 31, 2024
  • Sibongile Ngako, Brex's new compliance chief, is pictured wearing a white jacket.
    Image attribution tooltip
    Permission granted by Victoria Reynolds
    Image attribution tooltip
    Q&A

    5 questions for Brex’s new compliance chief

    When it comes to innovation, “if it's moving too quickly for customer protection to keep pace, it’s not happening,” said Sibongile Ngako, who recently joined the fintech as chief compliance officer.

    By Caitlin Mullen • July 31, 2024
  • Buy now, pay later
    Image attribution tooltip
    I going to make a greatest artwork as I can, by my head, my hand and by my mind. via Getty Images
    Image attribution tooltip

    Affirm says CFPB’s proposed BNPL rules will confuse customers

    In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations.

    By • July 29, 2024
  • Revolut card with logo
    Image attribution tooltip
    Courtesy of Revolut Press Kit
    Image attribution tooltip

    Revolut faces more fraud claims than other UK banks: report

    The fintech investigates each fraud claim independently of other cases, and takes such claims “incredibly seriously,” a spokesperson for the company said.

    By Gabrielle Saulsbery • July 25, 2024
  • Senator Richard Blumenthal has called for an expansion of the Electronic Funds Transfer Act to require payment networks to reimburse scam victims.
    Image attribution tooltip
    Spencer Platt/Getty Images via Getty Images
    Image attribution tooltip

    Zelle, big banks challenge senators on scam reimbursements

    Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.

    By • July 25, 2024
  • Fiserv headquarters in Brookfield, Wisconsin
    Image attribution tooltip

    Google Maps

    Image attribution tooltip

    Fiserv to leverage artificial intelligence to help merchants

    The payments behemoth says its data team will use AI to mine transactions on its products to help merchants and financial institutions profit.

    By • July 24, 2024
  • Mastercard point of sale, retail
    Image attribution tooltip
    Courtesy of Mastercard
    Image attribution tooltip

    FTC demands pricing input from Mastercard, others

    The Federal Trade Commission demanded information from eight companies, including the card network, to better understand how consumer data is being used in the pricing of products and services.

    By • July 23, 2024
  • Green Dot GO2bank
    Image attribution tooltip
    Courtesy of Green Dot
    Image attribution tooltip

    Fed fines Green Dot $44M over prepaid cards

    The consent order has been expected since February, when Green Dot revealed that reasonable associated losses could total $50 million.

    By Gabrielle Saulsbery • July 23, 2024
  • CrowdStrike booth at Black Hat USA 2023 in Las Vegas.
    Image attribution tooltip
    Matt Kapko/Payments Dive
    Image attribution tooltip

    Visa, Mastercard say CrowdStrike didn’t impact networks

    Still, cardholders may have been affected, particularly in Europe, as some bank card issuers were hit by the cybersecurity company’s update snafu.

    By • July 22, 2024
  • People spend time in a Capital One cafe
    Image attribution tooltip
    Joe Raedle / Staff via Getty Images
    Image attribution tooltip

    Capital One-Discover deal critics, supporters sound off

    While some community groups spoke in favor of the $35.3 billion merger at the Friday virtual meeting, a raft of critics urged regulators to block the deal.

    By Caitlin Mullen • July 21, 2024
  • The exterior of the Fiserv Forum.
    Image attribution tooltip
    Daniel Boczarski via Getty Images
    Image attribution tooltip

    Fiserv’s RNC visibility carries possible benefits, perils

    Publicity for the Republican National Convention, at a venue bearing Fiserv’s name, may raise the company’s profile, but also risks associating the payments player with polarizing partisan rhetoric.

    By • July 17, 2024
  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
    Image attribution tooltip
    Lynne Marek/Payments Dive
    Image attribution tooltip

    FedNow zooms past RTP participation in inaugural year

    The Federal Reserve’s nascent instant payments system has collected hundreds of bank participants across the country in its first year of operations, although a few major banks are holdouts.

    By • July 16, 2024
  • Gift cards hang on a rack in a store.
    Image attribution tooltip
    Permission granted by Lynne Marek
    Image attribution tooltip

    Prepaid card spending accelerates

    The rise of digital wallets hasn't dampened prepaid card use, including the payroll cards some employers use to pay their workers.

    By • July 16, 2024
  • Mastercard point of sale, retail
    Image attribution tooltip
    Courtesy of Mastercard
    Image attribution tooltip

    Mastercard updates travelers on latest card precautions

    With summer vacation season in full swing, the card network suggested ways that its card clients can better protect themselves against the latest fraud threats.

    By Tatiana Walk-Morris • July 15, 2024
  • Image of bitcoins.
    Image attribution tooltip
    Chris McGrath via Getty Images
    Image attribution tooltip

    Crypto theft doubles to $1.38B

    The May theft of over $300 million worth of bitcoin from Japanese cryptocurrency exchange DMM Bitcoin is the largest digital currency heist so far this year.

    By Alexei Alexis • July 11, 2024
  • Rep. French Hill
    Image attribution tooltip
    Win McNamee / Staff via Getty Images
    Image attribution tooltip

    Congress members egg on US payments system expansion

    A bipartisan group is nudging the Federal Reserve to explain why it can’t speed up a plan to extend the operational availability of the U.S. payments system.

    By • July 8, 2024
  • Doctor checks child's chest with stethoscope
    Image attribution tooltip
    Mario Villafuerte via Getty Images
    Image attribution tooltip

    CFPB keeps scrutiny on medical cards

    The Consumer Financial Protection Bureau has found some patients felt pressured by healthcare providers to use medical credit cards, according to an update on the federal agency’s efforts to protect consumers.

    By • July 8, 2024
  • legal team use of AI
    Image attribution tooltip
    Shutthiphong Chandaeng via Getty Images
    Image attribution tooltip

    Payments industry to use AI to detect fraud, improve efficiency

    Research from the investment bank Jefferies suggests generative artificial intelligence could be used in the payments industry to improve fraud detection and make transactions happen faster.

    By • July 2, 2024
  • Person looks at mobile phone advertising buy now-pay later offer while online shopping
    Image attribution tooltip
    Creative via Getty Images
    Image attribution tooltip
    Q&A

    How buy now, pay later benefits merchants

    Research from online payments processor Stripe found that providing BNPL increases the average size and total number of  sales.

    By • July 1, 2024
  • Image attribution tooltip
    Dan Kitwood / Staff via Getty Images
    Image attribution tooltip

    Crypto firm Abra settles with 25 states for operating without a license

    Abra agreed to repay customers some $82 million in crypto. CEO Bill Barhydt said all but $2 million, yet to be claimed, has been repaid.

    By Gabrielle Saulsbery • June 27, 2024
  • Cash dollars lying on the ground
    Image attribution tooltip
    Rrraum via Getty Images
    Image attribution tooltip

    FTC warns of cash losses to government impostors

    The median loss paid in cash to government impersonation scammers in the first quarter was $14,740, far above the $1,000 median for all payment types.

    By • June 20, 2024
  • Cyberattack and internet crime, hacking and malware concepts.
    Image attribution tooltip
    Techa Tungateja via Getty Images
    Image attribution tooltip
    Opinion

    Fighting deepfakes via payments

    “Since many of these deepfake software services accept credit cards, payments providers are on the front lines of detecting these companies,” writes one corporate compliance officer.

    By Alan Primitivo • June 12, 2024