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Amid UK Payment Woes, Firms Face Fraud Risk

PYMNTS

To get a sense of how fraud gets done at the micro level, consider one recent case where a former Costco employee in Washington state pleaded guilty to embezzling roughly $290,00 from the firm. Robin Cline, who had worked as an accounts receivable clerk for the firm, had been accused by the Justice Department of wire fraud.

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If Facebook Wants To Be WeChat, Why Did It Launch Libra?

PYMNTS

If you need a balanced refresher of Libra’s impact on global payments, here’s how I called it in a piece that published one minute after the Libra news crossed the wire. When Tencent made the move to mobile and launched WeChat in 2011, it had to persuade QQ users to download and use the WeChat app. Just like WeChat did.

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Everything You Need To Know About What Amazon Is Doing In Financial Services

CB Insights

That same year, the company acquired TextPayMe , a peer-to-peer (P2P) mobile service that was relaunched as Amazon Webpay in 2011. Amazon Lending initially launched in 2011 to help small businesses finance and sell more goods on Amazon. Its first entry point in the market was in payments in October 2014.