Red-flagging transactions is harder when all transactions are unusual
Payments Source
MAY 7, 2020
Large spikes in transactions and unusual payment amounts can be a response to the pandemic, not a sign of fraud, says Genpact's Manish Chopra.
Payment Amount Related Topics 
Nium Offers Swift Connectivity for Faster Cross-Border Payments
Fintech News
OCTOBER 20, 2024
The initiative also enhances transparency on payment costs, and Nium ensures real-time updates to Swift’s GPI tracker for payment traceability. Nium shared that its “zero-deduction” policy guarantees that beneficiaries receive the full payment amount without incurring extra fees.
Corporate Ransomware Payments Up In Remote Working Environment
PYMNTS
MAY 3, 2020
Corporate ransomware payment amounts rose sharply in the first quarter of this year, with a wave of coronavirus -related attacks and other peripherally-related cases because of complexities with shifting to remote work for many people, according to a Coveware blog post.
Ransomware 
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State Farm Tests Blockchain Insurance Claim Platform
PYMNTS
DECEMBER 10, 2018
The company will test the blockchain solution to find out if it can potentially reduce the time needed to complete the subrogation process by compiling all payment amounts, netting the balance and facilitating a single payment on a regular basis between insurers.
Blockchain 77
77 
BNPL Fraud On the Rise as Scammers Prey On Borrowers in Southeast Asia
Fintech News
SEPTEMBER 29, 2024
The victims were assured that the installment plan would be paid, but were ultimately left with outstanding payments amounting to more than US$76,000. These accounts were then used to make purchases at electronic stores, with the items subsequently collected for resale. BNPL fraud is not a new phenomenon.
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DNA Payments’ Pay at Reception, Pay at Counter and Pay at Table Now Available on Oracle Cloud Marketplace
Fintech Finance
AUGUST 22, 2024
Before asking for payment, the server may print the itemised bill or ask the customer to confirm. Customers can also enter a gratuity added to the payment amount before the transaction is processed. The axept® PRO Split Check Calculator helps customers determine which portion of the bill they wish to pay.
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What ‘Work From Home’ Means For Paper-Based AR Departments
PYMNTS
MARCH 18, 2020
Often, an organization will simply submit a check with their company name and payment amount on the physical document. Though that data can be digitized via lockbox services, there is no obvious way to link that information to an outstanding invoice, especially if there is any discrepancy or dispute in the payment amount.
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80 Zelle Processes $35B In Q4 Payment Volume
PYMNTS
JANUARY 24, 2019
The bank reported 52 million P2P payments amounting to about $14 billion in Q4. Mizuho analyst Thomas McCrohan said Zelle is “becoming a formidable competitor in P2P.” Bank of America, one of Zelle’s most visible users, shared Zelle statistics in an earnings report.
Zelle 69
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Tech Firms Are Building Bridges Across The Moats That Protected Banks
Tom Groenfeldt
OCTOBER 21, 2019
Payments amount to a $1.9 trillion business around the world, a sum too rich to leave just to banks, according to McKinsey’s Global Payments Report.
Six Spanish Banks Join SWIFT gpi For Cross-Border Payments
PYMNTS
MARCH 21, 2019
According to SWIFT, hundreds of thousands of cross-border payments amounting to more than $300 billion are sent each day using the new gpi standard. Payments are made typically within minutes but can take seconds in some cases.
Snabble announces a strategic partnership with Softpay.io
Fintech Finance
JANUARY 22, 2024
Heinemann, especially in Denmark, to offer their customers contactless Danish payment methods such as Dankort and others. It ensures a smooth transaction process, verification of payment data, and authorization of payment amounts according to Danish market regulations.
PayPal Files Patent Application To Speed Up Crypto Payments
PYMNTS
MARCH 5, 2018
The patent application comes as PayPal is upbeat about the future for blockchain, the technology that underpins cryptocurrencies.
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Making More Than Minimum Effort With Credit Cards
PYMNTS
NOVEMBER 14, 2016
The findings show that as many as nine percent to 20 percent of credit card users can afford to pay more than just the minimum on their cards, and yet they elect not to do so, with the conclusion showing that, as the Times put it, “they are highly sensitive to the minimum payment amount.”
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USAA, State Farm To Start Using Blockchain Payments
PYMNTS
JUNE 2, 2019
The two insurers are looking to see how they can gain efficiency by securely and automatically compiling all the subrogation payment amounts, netting the balance and facilitating a single payment on a regular basis between the two insurers.
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Lord & Taylor Joins Retail Bankruptcy Watch
PYMNTS
APRIL 21, 2020
Hudson’s Bay still owns some of Lord & Taylor’s real estate is responsible for its rent payments, amounting to tens of millions of dollars a year, and potentially putting Hudson’s Bay in the same conversation as other department store casualties.
What is Netting? Definition, How It Works & Benefits
Nanonets
NOVEMBER 27, 2023
By definition, netting is the act of combining multiple financial obligations between two or more parties and paying a net payment amount. In this netting process, all the debts between both entities are netted, creating a single payment amount for one business to pay the other. ” you’re not alone.
Plaid Introduces Support For Liabilities Product
PYMNTS
SEPTEMBER 18, 2019
Once consumers connect their credit card account(s), developers can gather the annual percentage rate or APR type, APR percentage, interest charge amount, and balance subject to APR; the last payment date and amount, next payment due date, minimum payment amount and more; and the last statement balance, issue date and credit limit.
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Italian Banking Association Embraces Need For Speed For Future Of Real-Time Payments
PYMNTS
FEBRUARY 1, 2021
Another, continued tailwind should come from the fact that the maximum payment amounts, as allowed under the scheme, have been increased as of last year, and now stand at 100,000 euros, up from 15,000 euros previously, as banks fine-tuned their AML and anti-fraud systems.
Splitit Launches B2B Installment Repayment Platform
PYMNTS
SEPTEMBER 24, 2019
With every payment made, Splitit lowers the amount of the hold on their business credit card by the installment payment amount. Once processed, the monthly repayment plan begins, allowing the buyer to pay in installments.
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58 One-Third Of Student Loans Could Default, According To The CFPB
PYMNTS
OCTOBER 18, 2016
Borrowers have made complaints to the CFPB regarding payment plans and other ways of getting out of a default.
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Apple Updates Wallet App To Reflect iPhone Financing For Apple Card Users
PYMNTS
DECEMBER 8, 2019
A full explanation of how the payments work when users pay their Apple Card balance is available under the “Learn More” link in the Wallet app. The minimum payment amount for the card will include the required monthly payment for the installment plan for customers sign up to pay for an iPhone using the card’s installment option.
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Progressive Leasing To Pay $175M FTC Fine Over Rent-To-Own Pricing
PYMNTS
APRIL 20, 2020
The FTC said that was not the case and that customers frequently ended up paying much more than the sticker price, sometimes as much as double if they made all their scheduled payments.
FTC 55
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Futon Company Teams Up with Trustly for Enhanced, Secure ‘Pay by Bank’ Experience
Fintech Finance
MAY 13, 2024
When opting for ‘pay by bank,’ consumers are directed to their mobile banking app or online banking portal, where they can execute instant payments. The solution automatically fills in all necessary payment details, such as the recipient’s bank information and the payment amount, streamlining the transaction process.
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Understanding the Payment Terminal: Integrated vs. Semi-Integrated vs. Non-Integrated Payment Terminals
Stax
FEBRUARY 28, 2024
This seamless sync between the two systems also gives you access to rich and updated payment reports. Payment information is transmitted automatically, so there’s no need to re-enter payment amounts at the checkout counter. As such, cashiers can process sales faster, and there’s no room for human error.
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Russia’s Trade Assoc. Accuses Visa, Mastercard Of Market Power Abuse
PYMNTS
MARCH 1, 2019
The trade associations added that the payment amount is also too high when compared to the developed retail market. In addition, it was alleged that both Visa and Mastercard charged different tariffs depending on the retail outlet, which the applicants assert is trade discrimination.
Visa 51
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Utilities Providers Can Be a UK Consumer’s Knight in Shining Armour By Helping With Cost-Of-Living
The Fintech Times
FEBRUARY 21, 2024
“Open banking solutions like VRP (variable recurring payments) can help utilities providers offer support to customers struggling to stay on top of monthly outgoings, with features such as agreed maximum payment amounts and automated retries meaning both parties can have more peace of mind and the ability to adapt to changing circumstances.
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A Market Overview of Payment Terminals in the USA in 2024
Clearly Payments
OCTOBER 3, 2024
Total Credit Card Payments Amount in the USA by Year Year Credit Card Purchase Volume in USA (USD Trillions) 2013 $2.5 trillion The adoption of payment terminals in the USA has seen significant growth over the past decade. The rise of e-commerce has further boosted credit card usage, with online retail sales surpassing $1.2
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How AP Simplicity Can Help Entertainment Talent Get Paid On Time
PYMNTS
AUGUST 13, 2020
Firms must receive and process invoices, calculate often-complicated payment amounts and issue payouts to recipients around the world, explained Ed Klaris, CEO of intellectual property and royalties-focused consulting and managed services firm KlarisIP.
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In 2019, Mobilize The Commercial Card: JPMorgan
PYMNTS
JANUARY 2, 2019
“Mobile wallet payments amounted to $75 billion in 2016, and they’re projected to roll in $500 billion by 2020. Device authentication, which requires an identification number and/or fingerprint to set up, should also be utilized for an added layer of security.” ” What’s Next In 2019. ”
USDA OKs Over $545M To Help Farmers Impacted By Pandemic
PYMNTS
JUNE 8, 2020
On the website, there is a calculator function that can help with sales and inventory records needed to identify payment amounts. Those looking to apply can visit farmers.gov/cfap , and those in need of assistance can call the USDA at 877-508-8364, according to the news outlet.
Lyft Ridership Up 3 Pct Even With Quarantine
PYMNTS
MAY 6, 2020
Lyft’s service works the same as its regular ride-hailing service, with payment amounts based on how far one drives and how long a job takes. Lyft has responded with a new grocery delivery program , answering the needs of customers who are having more meals delivered via mobile apps rather than going out themselves.
Payroll 52
52 Lease-To-Own Services Make A Comeback With Overstock.com
PYMNTS
SEPTEMBER 24, 2018
After the five-month minimum lease term, customers can continue to lease at the same payment amount and schedule, buy out their lease or return the item. To ease the approval process, a credit check is not required, and the program offers weekly, bi-weekly or monthly payments based on the customer’s pay cycle.
Credit Cards 70
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Tink Reveals Two Thirds of Brits Want Greater Support With Bills From Their Utilities Provider
Fintech Finance
FEBRUARY 20, 2024
“Open banking solutions like VRP (Variable Recurring Payments) can help utilities providers offer support to customers struggling to stay on top of monthly outgoings, with features such as agreed maximum payment amounts and automated retries meaning both parties can have more peace of mind and the ability to adapt to changing circumstances.
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Simulated FICO Score Impacts from Balance Aggregation due to Mortgage Forbearance
FICO
OCTOBER 19, 2021
Last time, we described the logic for simulating the imputed balance change: balances were estimated to aggregate in the amount of 80% of the total scheduled monthly payment amount per month.
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What Is Remittance Advice? Definition, Examples, and Tips to Enhance for Your Company
EBizCharge
JUNE 19, 2024
A typical piece of remittance advice includes several critical pieces of information for the recipient to identify and process the payment accurately. Remittance advice documents generally consist of the following; The name and contact details of the payer The remittance advice date Payment amount and currency Payment method (e.g.,
Payer 52
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Banked Partners with National Australia Bank to Accelerate A2A Payment Solution Adoption
The Fintech Times
MAY 9, 2024
Pay by Bank enables merchants to send PayTo Agreements to their customers and initiate payments and refunds according to their PayTo agreements. This addresses a range of scenarios for merchants such as online payments, scheduled recurring payments with fixed or variable amounts, and split payment amounts.
Zeta Connects The Inflows And Outflows Of Corporate Payments
PYMNTS
JULY 29, 2019
“Digital payments and virtual cards have a much bigger role to play in the corporate world versus the consumer payments world,” he said. Corporate payments across the world translate to trillions of dollars in transactions and dwarf consumer payment amounts.
Clik2pay launches QR code payment feature
The Paypers
OCTOBER 20, 2021
South Africa-based fintech Click2pay has unveiled their latest product capability which allows consumers to pay and customise payment amount and information using a QR code.
Persistent Debt – Moving from Prevention to Competing
FICO
MAY 1, 2019
If affordable higher payment amounts are identified, communicating these in a timely and frictionless way may lead to a competitive advantage. The competition in the credit card market is fierce and it is more expensive to book a new customer than retain an existing one.
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B2B Payments Speed Up
PYMNTS
MARCH 12, 2020
Keeping B2B Payments Honest. If the topic is payments, at some point fraud will enter into it. In the B2B world, fighting fraud is often a more complex and costly endeavor, as payment amounts are larger and major deals are made without the principals ever meeting.
B2B 63
63 How False-Positives Complicate The B2B Payments Fraud Fight
PYMNTS
JUNE 20, 2019
Among the largest threats in this area is redirect payment fraud, in which a bad actor infiltrates company emails or systems to change bank account details, payment amounts, and other key information to redirect B2B payments to a different account for personal gain.
B2B 73
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Banked and NAB Partner to Accelerate Pay by Bank Adoption in Australia
Fintech Finance
MAY 8, 2024
Pay by Bank capability will enable merchants to send PayTo Agreements to their customers and initiate payments and refunds according to their PayTo agreements, addressing a range of scenarios for merchants such as online payments, scheduled recurring payments with fixed or variable amounts, and split payment amounts.
AEVI Software Launch Targets SMB Checkout Improvements
PYMNTS
OCTOBER 30, 2018
The solution aims to make the payments process easier for businesses that use their own POS solution or manually enter in a payment amount. Square , meanwhile, announced in October the launch of an integrated all-in-one card processing device dubbed Square Terminal. On Tuesday (Oct.
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Ripple’s X-Border Payments Product Secures Three Partners
PYMNTS
AUGUST 16, 2018
According to Ripple , it will work like this: A financial institution (FI) that has an account with Bittrex would initiate a payment in U.S. dollars via xRapid, which instantly converts into XRP on Bittrex.
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