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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 Patrick Cooley • July 24, 2024 -
Courtesy of Mastercard
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 Lynne Marek • July 23, 2024 -
Courtesy of Green Dot
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 -
Matt Kapko/Payments Dive
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 Lynne Marek • July 22, 2024 -
Joe Raedle / Staff via Getty Images
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 -
Daniel Boczarski via Getty Images
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 Patrick Cooley • July 17, 2024 -
Lynne Marek/Payments Dive
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 Lynne Marek • July 16, 2024 -
Permission granted by Lynne Marek
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 Patrick Cooley • July 16, 2024 -
Courtesy of Mastercard
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 -
Chris McGrath via Getty Images
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 -
Win McNamee / Staff via Getty Images
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 Lynne Marek • July 8, 2024 -
Mario Villafuerte via Getty Images
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 Lynne Marek • July 8, 2024 -
Shutthiphong Chandaeng via Getty Images
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 Patrick Cooley • July 2, 2024 -
Creative via Getty Images
Q&AHow 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 Patrick Cooley • July 1, 2024 -
Dan Kitwood / Staff via Getty Images
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 -
Rrraum via Getty Images
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 James Pothen • June 20, 2024 -
Techa Tungateja via Getty Images
OpinionFighting 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 -
1401461124 via Getty Images
Q&AUpcoming ISO 20022 transition leaves some finance players scrambling
The move to ISO 20022 is coming late next year and many financial institutions remain unprepared for the switch.
By Patrick Cooley • June 11, 2024 -
whyframestudio via Getty Images
Rivals Adyen, Stripe partner with Capital One to combat fraud
The three companies announced last Wednesday that they are teaming up to launch a free service intended to combat fraud and reduce the amount of transactions that are improperly declined.
By Patrick Cooley • June 10, 2024 -
damircudic via Getty Images
Sponsored by AdyenHow machine learning protects merchants from digital payment fraud
Fraud is always a problem companies want to tackle. But in the current business environment, it has become an even greater priority.
June 10, 2024 -
Justin Sullivan via Getty Images
Amex dismisses impact of eBay’s rejection
EBay will no longer accept American Express, but the credit card company said in a statement that the online auctioneer accounts for a minuscule portion of its total business.
By Patrick Cooley • June 6, 2024 -
Drew Angerer via Getty Images
Pot payments players crave federal reforms
The Safer Banking Act and federal rescheduling of marijuana could simplify transactions for payments companies doing business in the arena.
By Patrick Cooley • June 5, 2024 -
Courtesy of Early Warning Services (parent company of Zelle)
Early Warning launches campaign to warn seniors
The parent to payments service Zelle aims to inform seniors about scams as it faces congressional scrutiny over its fraud reimbursement practices.
By Tatiana Walk-Morris • June 5, 2024 -
Cecilie_Arcurs via Getty Images
Are digital wallets safer than debit cards?
Research shows young people see digital wallets as a more secure option than debit and credit cards. Cybersecurity professionals mostly agree, despite caveats.
By Patrick Cooley • May 31, 2024 -
Gordan1 via Getty Images
Investments for payments startups trickle in
Venture capital flowing to startups in the payments sphere remains reduced this year, extending a rut from last year.
By Lynne Marek • May 30, 2024
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