The Bank of England has fined Mastercard-owned Vocalink $16.2 million for inadequate risk management. The penalty, announced Wednesday (July 9), relates to the failure of the company — which provides real-time payments in the U.K. — to comply with governance weaknesses identified by the central...
Venmo has introduced a line of college-branded card designs for its debit Mastercard. The new co-branded Venmo Debit Cards — launched in partnership with the Big 12 Conference — will allow students, alumni and fans from participating schools unlock rewards and exclusive access while also celebrating...
Worldpay now supports domestic acquiring capabilities in Thailand, marking another expansion of the company’s global reach. This move enables global merchants to serve local consumers with their preferred payment types, the company said in a Thursday (July 3) press release. Together with card acquiring, Worldpay...
Frictionless commerce has increasingly been the holy grail of online and in-store commerce. Embedded payments, integrated into platforms, are visible, and require a moment of click-through and interaction. Invisible payments happen in the background, with nary a hint of consumer effort. Uber is the typical...
Stripe has teamed with open banking provider TrueLayer to expand its pay-by-bank offering. The two companies had collaborated to launch a pay-by-bank offerings in the U.K., and will now bring that partnership to France and Germany, TrueLayer announced Wednesday (July 2). “By offering a direct pay by bank payment method,...
Mastercard has expanded its startup engagement program with a focus on cybersecurity. The company’s Start Path initiative now includes a “Security Solutions” program dedicated to supporting startups in the fields of cybersecurity, fraud mitigation, digital identity and payment resiliency, Mastercard said in a Tuesday (July...
Watch more: Merchants Use Visa’s Unified Commerce to Convert In-Store Buyers Unified commerce represents the next evolution in the digital economy, aiming to dissolve persistent friction points that even advanced omnichannel strategies have yet to fully address. Moving beyond merely streamlining transactions across different channels,...
Mastercard said it is expanding its First Party Trust program to tackle “friendly” fraud. Also known as first-party fraud, the term refers to genuine transactions that are challenged by cardholders, whether it’s deliberately or happens by mistake, Mastercard noted in a news release Wednesday (June...
Visa defeated a proposed class action lawsuit that alleged that the company did not warn consumers that its prepaid Vanilla gift cards could be drained by thieves. The judge hearing the case ruled Monday (June 23) that it was unreasonable for consumers to believe that...