The Fintech Times

MAY 22, 2024

In its Annual Fraud Report 2024 , UK Finance detailed the amount its members reported as stolen through payment fraud and scams, with a primary focus on authorised push payment (APP) fraud and unauthorised fraud. ” Unauthorised fraud losses Unauthorised fraud is when your card details are used by someone else without your permission.

Scams 58

Scams Finance Push-to-Card Romance Scams 58

FICO

JANUARY 22, 2021

But despite the COVID pandemic having effected massive changes in the ways consumers transact, credit card fraud is still a “thing,” and a big, ever-changing thing at that. Exactly how big credit card fraud is depends on where you look. Credit card fraud was the FTC’s second most-reported fraud type in 2019.

Credit Cards 52

Credit Cards FTC Push-to-Card Federal Trade Commission 52

PYMNTS

NOVEMBER 6, 2019

6); the payments firm reported stronger-than-expected results for Q4 and a brighter revenue forecast for the remainder of 2019 than analysts were expecting. Gross payment volume increased to $28.2 These sellers accounted for 54 percent of volume in the June quarter. Square’s Cash app will see a similar marketing and sales push.

Bitcoin 40

Bitcoin Volume Push-to-Card Adjustments 40

PYMNTS

JANUARY 22, 2021

One reason is the tremendous push COVID-19 has given consumers. But another reason is that the digital-first economy is being pushed by a demographic changing of the guard when it comes to spending. Because, as Webster and Fiorentino jokingly agreed, standing in line at the point of sale is very 2019.

Push-to-Card 73

Push-to-Card Payments Credit Cards Checks 73

PYMNTS

MARCH 14, 2019

Separately, earlier this week, ACI Worldwide said it has extended a relationship with a South African bank, Capitec Bank , to support card and non-card payments through the UP Retail Payments solution, billed in a press release as “an integrated platform for all payment channels.” The year] 2019 is about Request For Payment (RFP).

SWIFT 74

SWIFT Blockchain Distributed Ledger Technology (DLT) RFP 74

FICO

OCTOBER 20, 2020

FICO monitors the UK credit market using data reported by the UK’s leading credit card issuers through its FICO® Benchmark Reporting Service. Spend on UK cards continues to increase. Average spending on UK credit cards increased in August for the third consecutive month, up 6.9 percent in the same period in 2019.

Issuers 52

Issuers Push-to-Card Credit Cards Card Issuer 52

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. In August 2019, the company closed out its Series F funding round from Sequoia, Andreessen Horowitz, and General Catalyst at a $35B valuation.

Payment APIs and Integration 98

Payment APIs and Integration Online and Mobile Banking Payments Push-to-Card 98

PYMNTS

JANUARY 8, 2020

As the new year takes shape, the latest test in the push and pull of various stakeholders can be found in India. The stated goal has been to boost digital payments, especially transactions across RuPay cards, which are domestically issued by the National Payments Corporation of India (NPCI). Anticipating The Reaction.

Debit Card 52

Debit Card Push-to-Card Caps Laws 52

PYMNTS

JANUARY 8, 2019

As a pure-play digital bank, Chime offers as its primary product an entirely mobile/digital banking application that gives customers access to a network-branded debit card and a savings account. At the start of 2019, Chime reports roughly two million active bank accounts on its platform.

Debit Card 64

Debit Card Push-to-Card Funds Availability Payroll 64

FICO

APRIL 20, 2023

S&P Global Market Intelligence reports that in the second quarter of 2022 alone, real-time payroll payments more than doubled compared to the prior quarter and accounted for nearly 15% of total RTP volume. Globally, 38% of consumers are using real-time payments more than 5 times per month, most often to pay another person or a business.

Real Time Payments 52

Real Time Payments Scams RTP Payments 52

PYMNTS

JULY 6, 2020

Customers are also looking for options like digital and card-not-present (CNP) transactions that allow them to make eCommerce purchases as smoothly and seamlessly as possible. . These safety and convenience considerations are pushing more consumers to use — and more merchants to enable — contactless and CNP payments. percent of U.S.

Transactions 52

Transactions Card Issuer Push-to-Card Contactless Payments 52

PYMNTS

JUNE 3, 2020

EMQ partnered with Bank Indonesia to develop the solution and is targeting businesses with particularly high cross-border transaction volumes. Another B2B transaction pain point is corporate credit cards, which often rely on legacy software and tedious paperwork to conduct and verify their use.

Real Time Payments 75

Real Time Payments API B2B MFA 75

PYMNTS

DECEMBER 2, 2020

Instead, we were presented with a guidance range that is so conservative that it seems almost impossible for management to miss, and a gradual three-year timeline that implies it will take ACI almost another two years from today just to get back to its 2019 revenue base and start producing new organic growth.”. In Transition.

Push-to-Card 77

Push-to-Card Bitcoin Real Time Payments On-Demand 77

FICO

OCTOBER 20, 2020

FICO monitors the UK credit market using data reported by the UK’s leading credit card issuers through its FICO® Benchmark Reporting Service. Spend on UK cards continues to increase. Average spending on UK credit cards increased in August for the third consecutive month, up 6.9 percent in the same period in 2019.

Issuers 40

Issuers Push-to-Card Credit Cards Card Issuer 40

PYMNTS

OCTOBER 29, 2019

Released last week , Zelle’s Q3 results show that its year-over-year payment values rose by 58 percent, while transaction volume increased by 73 percent. In the 2019 Disbursement Satisfaction Report , PYMNTS surveyed more than 5,000 U.S. In the 2019 Disbursement Satisfaction Report , PYMNTS surveyed more than 5,000 U.S.

Instant Payments 40

Instant Payments Tax Refunds Debit Card Real Time Payments 40

PYMNTS

JUNE 3, 2020

The virus’s impact has not been solely responsible for this rush to digital, but it has given the trend a push. The virus’s impact has not been solely responsible for this rush to digital, but it has given the trend a push. Online account openings have increased 14.5 percent for community FIs in the U.S.

Online and Mobile Banking 52

Online and Mobile Banking Contactless Payments Volume Mobile Banking 52

PYMNTS

DECEMBER 24, 2019

For the annual holiday exercise at PYMNTS (describing the 12 main or most exciting ways to pay in 2019), it is clear that what has happened this year will have big implications for the new decade. Here are the 2019 payment trends that made the biggest splash, and promise to make even bigger splashes in the new decade. #1:

Consumer 64

Consumer Zelle P2P Real Time Payments 64

PYMNTS

MARCH 18, 2019

Connecting these two dots suggests a few important things that, for banks and card networks, might be the 2020 hindsight that could have come in handy had they stopped to look backwards a few years ago: That the Fed has much more than a passing interest in how faster payments are run in the U.S. A Couple of Important Dots.

Faster Payments 80

Faster Payments Fed RTP Same Day ACH 80

PYMNTS

JUNE 24, 2020

Legacy payment systems rely heavily on paper-based methods, such as physical checks, which make it difficult for insurers to keep up with growing transaction volumes. The space recorded a 66 percent increase in net income, hitting $60 billion in 2018, for example, and the first half of 2019 saw individual insurer Lloyd’s report a $2.8

ACH 60

ACH Checks Payments Bank Routing Number 60

FICO

FEBRUARY 9, 2023

As the PSR’s response to authorized push payment fraud moves towards becoming law, what will the results be? FICO Admin Tue, 07/02/2019 - 05:23 by Matt Cox VP and General Manager, EMEA expand_less Back To Top Thu, 02/09/2023 - 11:40 Of the £609.8 Home Blog FICO APP Scams: What Impact Will the PSR’s Proposals in the UK Have?

Scams 52

Scams Push-to-Card Romance Scams Regulations 52

PYMNTS

SEPTEMBER 16, 2020

Fraudsters’ attacks on universities’ systems have become more frequent in recent years, revealing just how critical it is for universities to bolster their cybersecurity amid the push to remote learning. Finalizing attendance at U.S. It also analyzes how these moves could change admissions and onboarding processes in the future.

Cybersecurity 56

Cybersecurity Enrollments Phishing Identity Theft 56

PYMNTS

SEPTEMBER 21, 2020

As Standard Chartered noted to BuzzFeed in the wake of the FinCEN files report: "In 2019 we monitored more than 1.2 And in PYMNTS’ own coverage, the twin external forces of regulatory scrutiny and market pressures are pushing FIs to retool and strengthen their anti-money laundering (AML) efforts. billion in fines.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

PYMNTS

JANUARY 29, 2020

Virtual cards have been spreading across the B2B payment space because of their cost-saving benefits for both companies and suppliers. These cards’ account numbers correspond with certain vendors, and have predetermined spending limits, enabling accounts payable (AP) professionals to better manage expenses, control cash flow and fight fraud.

Consumer 52

Consumer Push-to-Card Automation Card Issuer 52

PYMNTS

MARCH 19, 2019

Behind the billions of dollars — OK, make that tens and tens of billions of dollars — in deal-making that has marked the payments space in the just the first few weeks of 2019, lies, of course … strategy. It’s a mighty striving to push together the network, the platform and the use cases. Mastercard and Visa’s Defensive Moves.

Cross-Border 76

Cross-Border Push-to-Card Use Case Payments 76

PYMNTS

AUGUST 9, 2019

Commercial payments firm Bottomline Technologies is doubling-down on data intelligence after posting an 11 percent year-on-year increase in subscription and transaction revenues for the fourth quarter of fiscal year 2019, the company announced Thursday (Aug. 8) after market close. There is a major transformation in today’s systems,” he said.

Payment APIs and Integration 53

Payment APIs and Integration Push-to-Card B2B Payment Security 53

PYMNTS

APRIL 5, 2019

As 2019 ended its first quarter, it may have been the deals worth tens of billions of dollars that garnered the lion’s share of headlines. It’s well understood that B2B payments, in terms of volume, is worth multiples of the consumer payments arena. The way of not-so-fond memory, while trees breathe a silent sigh of relief?

Checks 47

Checks B2B Push-to-Card Payments 47

FICO

JANUARY 3, 2023

Tue, 07/02/2019 - 02:45. It's a fixed and unyielding lending strategy based on simply increasing back-office capacity to tackle high volumes of pre-set segmentations, strategies, treatments and policies. FICO Admin. by Bruce Curry. Senior Principal Consultant. expand_less Back To Top. Wed, 12/28/2022 - 10:15.

Volume 52

Volume Returns Risk Settlement 52

FICO

JULY 28, 2021

increase in volume and a 10.8% increase in dollar value over 2019. Additionally, ACH internet transactions rose 15% from 2019 to 2020. These scams are typically Authorized Push Payment (APP) schemes in which the transaction is executed by the customer directly, often via—wait for it—ACH payments. Source: NACHA.

NACHA 52

NACHA ACH Scams Account Validation 52

PYMNTS

DECEMBER 23, 2019

It was in a convergence of these trends that Visa launched its real-time payments solution, Visa Direct , a technology enabling push payments onto recipients’ Visa cards. The Network Opportunity. “We’ve taken that network and [thrown] it in reverse so we could move money in the other direction,” he said.

Use Case 41

Use Case Cross-Border Cross-Border Payments Push-to-Card 41

PYMNTS

APRIL 8, 2019

Gig workers, for example, will likely soon see an upgrade to their payments speed, thanks to a bit of help from their card network friends. Card Payouts is a card-based, front end user experience that integrates with treasury banks’ existing infrastructure. The pilot program is slated to debut in the fall of 2019.

Contactless Payments 40

Contactless Payments Push-to-Card Debit Card Payments 40

PYMNTS

JULY 26, 2019

Visa posted fiscal third-quarter results that showed a rebound in cross-border transactions, and continued gains in payments volumes overall. Nevada Marijuana Dispensary Uses Food Trucks to Sidestep Cards Regs. Other iterations of the pass include free Uber Eats delivery after a certain price threshold is met. Trackers and Reports.

Push-to-Card 43

Push-to-Card Regs Cross-Border PayPal 43

FICO

NOVEMBER 3, 2022

Tue, 07/02/2019 - 02:45. While the current series of economic shocks may seem "unprecedented", there are clear lessons from past crises that should shape our collections strategies today. FICO Admin. by Bruce Curry. Senior Principal Consultant. expand_less Back To Top. Thu, 11/03/2022 - 11:30. years it took typical collections customers.

Volume 52

Volume BNPL Agreements Risk 52

PYMNTS

OCTOBER 24, 2018

After years of focusing nearly entirely on a consumer’s payment history, FICO has announced that as of 2019 it will be rolling out a new scoring system that will take money management into account in ranking borrowers. Unemployment is at record lows and wages are gradually pushing up. The retooled system will be called the UltraFICO.

Underwriting 43

Underwriting Push-to-Card Credit Union Consumer 43

PYMNTS

DECEMBER 9, 2019

According to Recurly’s 2019 Cyber Monday recap figures , Burkhart noted, there is not only big growth for subscription businesses during what is arguably the biggest eCommerce day of the year, but “strong sequential growth” each year. By the numbers, year-on-year growth for 2019’s Cyber Monday, on a site-by-site average, was 81.68

PayPal 52

PayPal Push-to-Card Alternative Payment Methods Professional Development 52

PYMNTS

DECEMBER 24, 2020

And while the shift to digital in grocery wasn’t premised on quite the same type of necessity seen in restaurants, consumer’s pressing concerns about their safety combined with the increased convenience of digital shopping have pushed the grocery game online in heretofore unseen ways. It’s almost enough to make one lose their appetite.

Push-to-Card 82

Push-to-Card Consumer Innovation On-Demand 82

PYMNTS

MARCH 6, 2020

1, 2019, there was no shortage of predictions about which stories would drive payments, commerce and the global financial ecosystem. But as it turns out, 2019-2020 will go down in the record books as one of those years where everyone got it wrong — because a black swan showed up. Costs And Benefits.

Online and Mobile Banking 60

Online and Mobile Banking Disputes Economy Push-to-Card 60

PYMNTS

JANUARY 31, 2020

Outside of Prime, subscriptions services seem to have ended 2019 strong. billion for the quarter, up 32 percent from 2019. billion for the quarter, up 32 percent from 2019. But this week there were reports that the eCommerce shakeup is moving along and that it will stake out new ground entirely this weekend — at the Super Bowl.

Push-to-Card 53

Push-to-Card Caps Mitigation Posting 53