Rising Delinquencies on Car Loans Send a Warning to Lenders
In a cautionary signal for the lending industry, auto loans delinquencies are reaching new heights, particularly among borrowers with poor credit. A study from Fitch Ratings shows that the number of subprime auto borrowers who are at least 60 days past due on their loans has reached its highest level since the agency began tracking […]
A Robust Cyber Fusion Strategy Is Integral to Fight Fraud Threats
Cybercriminals have more tools at their disposal than ever before, and they’re using them to target consumers in increasingly complex and effective ways. However, just because one of a financial institution’s customers falls victim to a scam, it doesn’t mean it was an isolated incident. In fact, emerging technologies are allowing criminals to organize and […]
Businesses Seek Ways to Contend with Late Payments
One of the toughest challenges for businesses is ensuring customers pay their bills on time. In fact, a third of all businesses surveyed by CreditSafe report regularly dealing with overdue payments—totaling up to $70,000 per month. The Cost of Late Payments report revealed that nearly a third of respondents lose between 5% and 30% of […]
More Healthcare Providers Are Bolstering Cybersecurity Infrastructure, Study Finds
Healthcare organizations safeguard substantial troves of personal and financial data, making them prime targets for cybercriminals. According to a survey from the Healthcare Information and Management Systems Society (HIMSS), more organizations are strengthening their defenses. The study found that 55% of healthcare organizations plan to boost their cybersecurity spending this year. “Healthcare must invest more […]
Paperwork Over Plastic: Federal Procurement Card Curbs May End Up Costing More
Yesterday, The Wall Street Journal reported that the Trump administration had lowered single purchase limits on U.S. government corporate cards to one dollar for most government agencies, effectively rendering these cards useless. These actions were taken by the Elon Musk-run Department of Government Efficiency (DOGE) as part of an overall effort to improve government efficiency […]
Leveraging the Payment Card to Combat Friendly and Malicious Fraud
The Evolution of Card Payments and the Rise of Online Transactions In the late 1990s, card payments entered a new era with the internet’s mainstream adoption. Traditionally, cardholders would swipe or dip their cards into a point-of-sale (POS) terminal in-store. This allowed some form of authentication to be carried out. However, the rise of e-commerce […]
How AI Is Streamlining Takeout Orders and Payments
Handling takeout orders and processing payments by phone is a common pain point for many merchants. To ease this burden, CardFree and SoundHound AI have launched a platform that uses artificial intelligence to automate the ordering and payment process. The solution has already been rolled out at Torchy’s Tacos, a Texas-based chain with over 130 […]
Stolen Data Too Often Fuels Tax-Related Fraud
While many consumers are busy preparing their 2024 tax returns, a new study shows that nearly a thousand data breaches last year could have led to tax fraud. Data from credit agency TransUnion found that there were 970 data breaches in 2024 where criminals obtained the types of personally identifiable information (PII) required for various […]
Unifying Payment Credentials: Simplifying the Complexity of Payment Tokenization for Merchants
Imagine a world where payments are seamless, customer data is secure, and merchants can easily manage a multitude of payment options while still providing the best customer experience. That’s the goal of unifying payment credentials. Payment tokenization is a crucial technology that is no longer a luxury but a necessity for merchants looking to thrive […]
Circle’s USDC to Become “First and Only” USD Stablecoin in Japan
In the latest step toward global stablecoin adoption, the crypto subsidiary of Japan’s SBI financial services company will soon support Circle’s USDC stablecoin. SBI Group is a vast conglomerate with businesses spanning industries from banking to biotechnology. Its crypto division, VC Trade, was launched almost a decade ago and currently supports digital assets like bitcoin, […]