Switzerland Considers Joining Anti-Money Laundering Consortium
The Swiss bank account has long been synonymous with anonymity and often associated with criminal activity, but Switzerland is working to change that perception. According to Reuters, the country is considering joining the International Anti-Corruption Coordination (IACCC) task force, a UK-based group that targets kleptocrats and works to recover stolen assets. Launched eight years ago, […]
Klarna Sells Off $26 Billion in BNPL Loans Ahead of IPO
Klarna will sell off $26 billion in buy now, pay later loans to Nelnet, a U.S.-based financial services firm primarily focused on servicing student loans, as it continues preparing for its much-delayed initial public offering. The agreement allows Klarna to offload newly originated, short-term, interest-free pay-in-four receivables to Nelnet over multiple years. For Klarna, the […]
Thailand Pilots Crypto-to-Baht Conversion to Drive Tourism
Amid a post-pandemic tourism slowdown, Thailand is launching an 18-month program to test whether crypto payments can help draw more foreign visitors. Before COVID-19, Thailand welcomed about 39.9 million foreign international arrivals, generating roughly $58.86 billion in revenue. However, Southeast Asia’s second-largest economy has struggled to attract visitors in the subsequent years. Thailand’s state-planning agency […]
Amid Surging Stablecoin Use Cases, Payouts Stand Out
The passage of the GENIUS Act in the U.S. has brought stablecoin interest to a fever pitch in recent months. However, even as more of the world’s leading organizations consider launching stablecoin, the use cases for these fiat-backed assets are still being unlocked. In a recent PaymentsJournal podcast, Nabil Manji, SVP, Head of Fintech Growth […]
Ransomware Attack Leads Ohio to Establish New Cybersecurity Protocols
A year after the city of Columbus fell victim to a massive ransomware attack, Ohio now requires every government agency to implement a cybersecurity program that safeguards their computer systems. The measure applies to counties, cities, school districts, and townships. Local governments must establish cybersecurity training requirements for all employees. The law also mandates that […]
Airbnb Adds “Reserve Now, Pay Later” to Its Repertoire
U.S. travelers will be able to reserve an Airbnb without paying anything up front, giving them more flexibility to adjust their travel plans. The vacation rental company is launching a “Reserve Now, Pay Later” feature in response to the growing demand for flexible payment options in the travel sector. Airbnb cited data showing that a […]
Share and Share Alike: The Promise of Cyber Fusion
One of the most effective tools in the fight against cybercrime is information sharing—particularly through anonymized consortium data signals—a practice increasingly referred to as cyber fusion. Despite its promise, many institutions remain wary of collaborating in this way, often even within their own organizations. Greater cooperation—through shared data and interoperable fraud, anti-money laundering, and cyber […]
New York State Launches New Suit Against Zelle
Zelle faces a new lawsuit over allegations that it lacked critical safety features, enabling criminals to steal more than $1 billion from consumers. The suit builds on an earlier complaint from the U.S. Consumer Financial Protection Bureau, which was dropped in March. Although Zelle has since implemented protective measures, the lawsuit seeks to compel the […]
Google Requires Licensing for Crypto Wallet Providers
After generating some controversy with its initial announcement, Google has clarified its rules regarding crypto wallets in its app store. Google Play will require crypto wallet companies in many regions, including the United States and the European Union, to be licensed with their domestic regulators and comply with industry standards. U.S. wallet providers would need […]
The Greatest Payments Mistakes, and How to Solve Them
Wirecard was once the darling of the German stock market and a leading global payments player—until it went bankrupt due to mismanagement and fraud. The collapse left many major organizations unable to accept payments, having become too reliant on Wirecard as their sole payment service provider (PSP). While this may be an extreme case, overreliance […]