Travelers Are Increasingly Worried About the Security of Their Payments
Fueled by concerns over fraud, global travelers are increasingly worried about the security of their payments. Research from Outpayce from Amadeus found that more than 70% of surveyed travelers prefer to book with travel companies known for their secure payment processes. The survey also asked whether respondents would accept a discount to book with a […]
How AI Agents Can Perform Autonomous Phishing Attacks
Phishing is already a favored technique among criminals, and a demonstration by Symantec showcased how AI agents can supercharge these attacks. The security company tasked OpenAI’s recently launched Operator agent with carrying out a phishing attack on a member of Symantec’s organization from start to finish. First, the agent identified the person who performed a […]
AI Has Become an Integral Part of Fraud Prevention—and Fraud Attacks
Just as organizations are implementing artificial intelligence and machine learning in novel ways, cybercriminals are continually looking to incorporate AI into their attacks. The disruptive technology allows criminals to find targets more effectively, scale their efforts, and forge better attacks that are increasingly harder to detect. In a PaymentsJournal podcast, Alex Cox, Director of Threat […]
For Credit Unions Seeking to Digitalize, Catalyst Offers In-App P2P Solution
As digital financial products continue to evolve, many credit unions have struggled to keep up. To help address this issue, Catalyst, in partnership with Neural Payments, has developed a peer-to-peer (P2P) solution that integrates with credit unions’ mobile apps. This functionality may draw comparisons to Zelle, which allows customers of major financial institutions to send […]
UK Government to Shut Down Its Payments Regulator
The UK has announced it will abolish its payments oversight body, The Payment Systems Regulator (PSR), and transfer its functions to the Financial Conduct Authority (FCA). While many financial institutions have welcomed the move as a step toward reducing bureaucracy, it leaves the UK’s fraud-fighting framework up in the air. The government stated that its […]
Navigating an Omnichannel Payments Strategy
One of the biggest challenges in the payments landscape is that customer expectations are constantly evolving. Thirty years ago, customers knew they could expect one experience when shopping from a catalog and another when shopping in-store. But then, Amazon came along and redefined the process, shifting customer expectations forever. Now, the evolutionary wheel has landed […]
Intuit QuickBooks Adds Contactless Payments for Small Merchants
Amid strong competition to become the go-to point-of-sale provider for small- to medium-sized businesses, Intuit has introduced a solution that allows QuickBooks Online users to accept payments directly on their iPhone. While tap-to-pay tech isn’t new, Intuit’s offering integrates is that it seamlessly with its QuickBooks suite, allowing small business owners to reconcile payments and […]
Barclays Inches Closer to Offloading Its Payment Business
Barclays is close to selling its payment business to investment firm Brookfield Asset Management for £650 million. However, the details of the transaction suggest that Barclays may have been eager to offload the business at almost any price. It’s not uncommon for banks like Barclays to exit the merchant acquiring business when it operates as […]
Payments Modernization: Always Evolving with Tech
Financial institutions have been hesitant to embrace the array of payment types now available, from instant payments to stablecoins. However, these technologies offer more than just a faster means to an end—the operational efficiencies they deliver can have a significant impact across an organization. In a PaymentsJournal webinar, Nick Botha, Global Payments Sales Manager at […]
Questions Arise About Digital Euro Amid ECB Outage, Stablecoin Dominance
Many European lawmakers have advocated for the launch of the digital euro as a solution to the continued dominance of USD-backed stablecoins, but a recent outage at the European Central Bank (ECB) has raised concerns about the viability of the central bank digital currency (CBDC). Plans for the digital euro have been years in the […]