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...
Scammers stole about $27 million from Amazon customers between July 2020 and June 2021 through about 96,000 incidents reported to the Federal Trade Commission, according to a blog post on the FTC’s website. The FTC said reports about companies pretending to be Amazon increased fivefold...
Merchants across the globe are expected to lose more than $20 billion to fraud in 2021 alone, a staggering amount indicating the rising menace digital fraud poses to businesses and individuals. In the United Kingdom, phishing schemes are gaining traction, with 73% of the region’s...
Hollywood-style image manipulation that used to require a huge investment and a team of talented people with above-average expertise can now be attained by anyone with a smartphone. Developments like these, which have gained attention following a spate of high-profile deepfake videos being posted on...
The U.S. Financial Crimes Enforcement Network (FinCEN) has revealed that more than $5 billion in bitcoin transactions were linked to ransomware payments. As Bitcoin.com noted Tuesday (Oct. 19), the findings were published by FinCEN in a report outlining ransomware activity in the first half of...
“Forty percent of shoppers who are declined on their first visit won’t return, and one-third will end up seeking out the competition,” says Liron Damri, president and co-founder of Forter. In “The Way Payments Are Now Done,” Damri and 32 other industry executives share their...
