The looming specter of wire fraud has spurred lawmakers to press big banks for better defenses against bad actors — and a detailing of the impact the scams have had on consumers. On Thursday (April 18), in a letter to the CEOs of JPMorgan Chase, Bank of America, Wells Fargo and Citi, Sens. Sherrod Brown, D-Ohio, Chairman of the Senate Committee on Banking, Housing, and […]
Visa is seeing continued momentum in Tap to Pay and digital credential issuance, as consumers continue to spend on their debit and credit cards. CEO Ryan McInerney said on the call that overall payments volume in the second fiscal quarter was up 8% year over year (YoY), while U.S. payments volume was 6% higher YoY. International […]
The Reserve Bank of India has directed all regulated payment companies to track high-value or suspicious transactions during the course of general elections, according to multiple senior executives in the know.In a letter dated April 15, the RBI asked payment system operators (PSOs) to prevent any potential misuse of electronic fund transfer mechanisms to influence voters or indirectly fund poll candidates.ET has seen a copy of the letter.“The regulator wants payment companies to track...
Banks are increasingly carrying out checks to verify that their customers are not laundering money, financing terrorism or violating sanctions, De Nederlandsche Bank (DNB) said on Monday. At the same time, the Dutch central bank noted that some banks are delaying or scaling back improvements to their controls and checks. As a result, they have to do more to get their controls in order.
The Richmond Police Department is asking for help identifying and locating a repeat bank fraud suspect.
Razorpay has launched its own Unified Payments Interface (UPI) infrastructure in partnership with Airtel Payments Bank. The new infrastructure, UPI Switch, boost success rates by 4% to 5%; handles up to 10,000 transactions per second at any given time; and enables five times faster access to UPI innovations for business, Razorpay said in a Wednesday (April 24) press release. “This […]
The B2B landscape is on the cusp of the next era in payments innovation. As PYMNTS readers already know, this new and exciting era is being driven by an ongoing digital transformation of historical processes and an electronic streamlining of traditional workflow hiccups. In order to capture the concrete opportunities that exist for B2B businesses to […]
Evansville Police have made another arrest in relation to an extensive check fraud scheme.
There is a growing disconnect between consumer-focused payment advances and commercial ones. And while it’s not new news that business-to-business (B2B) payments often lack the intuitive, user-friendly interfaces that have come to be viewed as table stakes in today’s digital age — with the revelation that emerging decision-makers are avid digital wallet users, embracing the consumerization […]
There is a growing disconnect between consumer-focused payment advances and commercial ones. And while it’s not new news that business-to-business (B2B) payments often lack the intuitive, user-friendly interfaces that have come to be viewed as table stakes in today’s digital age — with the revelation that emerging decision-makers are avid digital wallet users, embracing the […]
BILLERICA — It probably seemed too good to be true for this 75-year-old woman. And it turns out it was.
Digital payments are becoming increasingly popular on King’s Day, especially when buying a beer or paying to use a toilet. Last year, 30 percent more Tikkie transactions were made on the national holiday, compared to 2022.The number of Tikkie payments on King’s Day last year was six times higher than on a normal day. On average, residents of the Netherlands paid approximately 13 euros for their King’s Day purchases via Tikkie. About 13 percent of the amounts were above 25 euros.