Yes, it’s only Monday. And no, the news didn’t slow down.
To keep you afloat of what’s been trending in payments and commerce — at least across PYMNTS’ ecosystem, we’ve gathered our Top Five At Five to give you a quick refresher of today’s top hits.
Stay tuned to see what Tuesday brings…
The ‘Uber Of Nothing’ Is Coming
How many times have you heard someone describe their business as “The Uber of [X]?” Probably a lot.
MPD CEO Karen Webster says that it’s not entirely the innovator’s fault. Uber – and its $60 billion market cap – just makes it look way too easy. She says that, despite the hype, there are many other options for innovators to scratch their platform itch. And if they don’t, instead of being famous for being the “Uber for Something” they’ll end up just like so many others, becoming the infamous “Uber of Nothing.”
How? Catch the conversation.
Subscription Commerce Get SaaS-y
Subscriptions have come a long way from Book-of-the-Month Clubs and magazines. Today, they are the hottest payments model to hit the retail and enterprise market. BlueSnap CEO Ralph Dangelmaier tells Karen Webster about how their work with AutoDesk has given rise to a whole new SaaS business model to explore – and monetize.
Fraudsters Bank Billions Via Corporate Email Scams
Cybercriminals are making bank from wire transfer scams conducted through email — the FBI estimates more than $2.3 billion since 2013.
These schemes, which authorities consider to be one of the fastest-growing, involve fraudsters pretending to be company executives in order to trick employees into transferring money to accounts that are actually controlled by the criminals themselves. How? Read on to learn more.
CFPB’s Shifting Payday Loan Talk
The Consumer Financial Protection Bureau/Congress dustup is over, and the age of the 24/7 news cycle demands that we move on to other things.
But wait a moment.
Within the payments space, there was, and remains, some red meat to chew over (or, if you prefer, seitan). The head of the CFPB, Richard Cordray, said during testimony on The Hill last week that FinTech companies will likely be a significant presence in making payday loans (or smaller dollar loans) to consumers.
So what’s next?
The growth in compromised ATM incidences continued unabated through the past year, FICO noted late last week, with the total number of ATMs being hit rising as much as 546 percent year over year.
Geographically, while in the past breaches were concentrated in large cities on the coasts, in 2015, such attacks were more uniformly spread throughout the country. The average duration of an attack was down year over year, to 14 days from as long as 36 days in 2014.
The latest data displays the highest level of ATM compromises ever recorded by the FICO Card Alert Service, which monitors several hundred thousand ATMs across the county.
Not exactly news you want to start your week out with.
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