Today’s most powerful technologies are those where the processes behind that innovation are hidden or invisible from users’ consciousness. When done right, this high-functioning tech is not only seamless but creates time for users that allows them to shift their focus elsewhere. Enter the “invisible...
Online gambling has had big payoffs for legitimate operators thanks to pandemic boredom, growing from a $64 billion market in 2020 to roughly $72 billion in 2021. Hidden within those figures — or just not recorded — are the estimated billions in wagers and winnings...
It’s a sad but simple truth: The move to remote work has increased the opportunity for fraud. Employees are more likely to make significant, serious requests over emails that are often sent from personal devices and are therefore much easier to be mimicked in a...
Banks and other financial firms in the U.K. are filing more Suspicious Activity Reports (SARs) than ever before, the Financial Conduct Authority (FCA) indicated in a press release emailed to PYMNTS on Monday (Nov. 1). Filings have been going up year over year since 2017,...
After all the investments that financial institutions (FIs) have put into protecting themselves and their customers against fraud, scammers are now targeting individuals, which they see as the weakest link. The method is straightforward: tricking people into either passing on information that would give the...
The FIS online payments processing unit, Worldpay from FIS, is replacing terminals from PAX Global Technology because of security concerns, Bloomberg reported. In lieu of PAX products, Worldpay said that it has decided to go with point-of-sale (POS) equipment from Verifone and Ingenico, according to...
Lawmakers could introduce legislation banning private companies from making ransomware payments, MarketWatch reported. Sen. Gary Peters of Michigan, the chairman of the Senate Homeland Security Committee, said during a Washington Post Live event that Congress is “not closing the door” on banning the payments, according...
In “The Way Payments Are Now Done,” 33 payment executives discuss what payments’ “new normal” looks like. Andre Machicao, SVP, global head of product and solutions at Cybersource, explores how the COVID-spurred digital acceleration has caused a spike in fraud, and how merchants are rethinking...
Artificial intelligence (AI) identity verification startup Jumio has launched an intuitive, no-code orchestration layer for its KYX Platform that pulls together a full suite of risk and fraud detection tools, the company said in a press release emailed to PYMNTS. The provider of end-to-end identity...
