Mobile Payments Stall as Switzerland Clings to Cash and Debit
As transformative payment types like digital assets and real-time payments have emerged, many have treated their eventual dominance as a foregone conclusion. While these methods have gained rapid traction in some regions, payments inertia has proven difficult to overcome in others. In the U.S., a deeply entrenched financial services infrastructure has fostered a card-driven ecosystem […]
BetMGM Is the Latest Gambling Platform to Move Away from Credit Cards
As sports betting operators move away from credit cards, BetMGM is eliminating them entirely following a fraud-related settlement with Pennsylvania. The Pennsylvania Gaming Control Board also fined BetMGM $100,000, alleging it “failed to have sufficient procedures to prevent the fraudulent behavior,” particularly in identity verification. State regulators identified multiple cases in which fraudulent users opened […]
From a Checkbox to a Differentiator: Redefining ACH Fraud Monitoring
Last year, the treasurer’s office in Warren County, New York sent $3.3 million to what it believed was the county’s roadwork and maintenance contractor. It was not—the payments were instead routed to a fraudulent account. Because the county had recently switched from paper checks to ACH, the treasurer’s office had no account verification policies in […]