Risk

  • 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
  • Animated hooded person steps off a laptop screen with an oversized credit card under his arm. Explore the Trendline➔
    Image attribution tooltip
    tommy via Getty Images
    Image attribution tooltip
    Trendline

    Payments industry seeks to keep pace with fraudsters

    As losses from fraud in payments have climbed, companies are seeking new tools to combat illicit schemes.

    By Payments Dive staff
  • 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
  • Hand of person tapping phone with dollar signs floating up
    Image attribution tooltip
    1401461124 via Getty Images
    Image attribution tooltip
    Q&A

    Upcoming 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 • June 11, 2024
  • Close up of easy payment by credit card or smartphone application Greenhouse workers selling pottered flowers.
    Image attribution tooltip
    whyframestudio via Getty Images
    Image attribution tooltip

    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 • June 10, 2024
  • Online payment
    Image attribution tooltip
    damircudic via Getty Images
    Image attribution tooltip
    Sponsored by Adyen

    How 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
  • The eBay logo is displayed outside company headquarters.
    Image attribution tooltip
    Justin Sullivan via Getty Images
    Image attribution tooltip

    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 • June 6, 2024
  • The photo shows cannabis plants growing in a greenhouse.
    Image attribution tooltip
    Drew Angerer via Getty Images
    Image attribution tooltip

    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 • June 5, 2024
  • Zelle's new ad campaign
    Image attribution tooltip
    Courtesy of Early Warning Services (parent company of Zelle)
    Image attribution tooltip

    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