Insurance Fraud: Not a Problem for Younger People
Younger people are far more likely to consider committing insurance fraud than older generations, a finding that aligns with other age-related patterns in fraudulent behavior. Researchers at the University of Georgia surveyed respondents on whether they would consider such actions such as including damages from a previous incident in a new car accident claim or […]
Fighting Authorized Push Payment Fraud on All Fronts
The modern financial landscape has created fertile ground for authorized push payment (APP) fraud, where victims are tricked into willingly transferring money under false pretenses. The expectation for real-time banking and instant payment settlement means transactions are often completed in seconds—leaving little room for reversal. Cross-border payments have become routine, even for everyday consumer purchases. […]
Irish Banks Announce Payment App to Compete with Revolut
Ireland’s three largest banks are once again joining forces to develop a rival instant payments app to counter Revolut. The new service, Zippay, will launch early next year and be available to the banks’ five million eligible customers. AIB, Bank of Ireland, and PTSB are backing the initiative, and other financial institutions—such as credit unions—are […]
Bad Actors Exploit Apple’s iCloud Calendar for Phishing Attempts
As email fraud filters become more sophisticated, cybercriminals are turning to Apple’s iCloud to bypass safeguards and deliver phishing messages. According to BleepingComputer, bad actors are sending fraudulent calendar invites that claim a victim’s PayPal account has been billed for hundreds of dollars and instruct them to review a purchase receipt. The objective is to […]
From Idea to Swipe: How to Launch a Winning Card Program
Launching a card is a complex process with the potential for long-term financial gains—if executed flawlessly. Yet, it moves quickly, with an average timeline of just six to seven months from concept to launch. Any major player in today’s financial landscape—from legacy banks to fintech apps to fledgling retailers—has at least considered launching a card. […]
Stripe and Fireblocks Launch Competing Stablecoin Rails
Just as stablecoins have proliferated, there will be more networks to support them. Blockchain infrastructure firm Fireblocks unveiled its global stablecoin network, which is designed to connect rails as diverse as foreign exchange companies, domestic payment platforms, and stablecoin issuers. In a news release, Fireblocks likened its network to cross-border payments system Swift and noted […]
Antom Hopes Asian Shoppers Are Ready for Agentic AI
As agentic AI promises to take on the role of a personal shopper, Antom, a division of the Chinese financial giant Ant Group, has launched a new agentic payment solution for the Asia Pacific region. In a partnership with Mastercard and Visa, Antom is introducing tokenized, card-based agentic payments that would enable AI agents to […]
Is There Any Reason for Merchants to Dip Their Toes into Faster Payments?
Faster payments have made a big splash in the payment processing industry, with the Federal Reserve’s FedNow platform rolling out in 2023 to join its older rival, the Clearinghouse’s RTP network. But for merchants, the revolution has not happened yet—and might never happen. The use cases for retailers, to this point, simply do not exist. […]
NFL Affiliation: A Touchdown for Amex
Credit cards and sports are a great connection. When you look at it as a consumer, the price of a nice set of seats is nothing like it was when Mickey Mantle (my boyhood hero, long ago) played for the New York Yankees. Back in 1958, a bleacher ticket in the Bronx was all of […]
Amazon Acquires Axio, Expanding Its Financial Services Scope in India
After receiving approval from the Reserve Bank of India in June, Amazon has completed its acquisition of fintech Axio in a deal some have valued at $200 million. Axio had previously facilitated buy now, pay later services in India for Amazon Pay. The fintech will now be a fully owned subsidiary of the world’s largest […]