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This digital accessibility, however, also presents a fertile ground for fraudulent activities, impacting millions of individuals annually and resulting in significant financial harm. The global digitalpayment landscape is experiencing a period of explosive growth, with e-retail sales projected to approach $8 trillion by 2025.
This digital accessibility, however, also presents a fertile ground for fraudulent activities, impacting millions of individuals annually and resulting in significant financial harm. The global digitalpayment landscape is experiencing a period of explosive growth, with e-retail sales projected to approach $8 trillion by 2025.
The facial recognition development trail is dotted with starts and stops in its search for consumer adoption, from Mastercard's "selfie pay" to Apple's 3-D facial scan tests and the FederalTradeCommission's approval of biometric authorization.
The FederalTradeCommission (FTC) is talking to large merchants to discover if some retailers are being blocked from routing digitalpayments over alternative debit networks, sources told Bloomberg.
This article covers the impact of COVID-19 on payment processing, supported by data and statistics that highlight the scope and scale of these changes. An Accelerated Shift to a Cashless Society The shift from cash to digitalpayments, which was already underway before the pandemic, was dramatically accelerated by COVID-19.
Joe Simons, chair of the FederalTradeCommission (FTC), said last month that “roadblocks” could be instituted to prevent dominant companies from buying emerging startups. Recent deals included the Equifax purchase of Ansonia Credit Data; Corsair Capital’s purchase of MSTS; the Paya merger with FinTech Acquisition Corp.
corporates, including tech (and beyond Big Tech), Joe Simons , chair of the FederalTradeCommission (FTC), indicated that roadblocks could be set up to stop some of the traditional means of growth and innovation. M&A DOA? In a signal of what might be on the horizon for U.S.
FederalTradeCommission even took up this issue when filing a complaint against commercial payments conglomerate FLEETCOR in December, alleging the company charged “at least hundreds of millions of dollars in unexpected fees” for use of its fleet card and other commercial card products. Indeed, the U.S.
FederalTradeCommission found at least 184,000 instances of pandemic-related fraud as of Aug. Such schemes are proliferating as the pandemic and economic hard times make consumers more vulnerable than ever to crooks. As PYMNTS’ Preventing Financial Crimes Playbook recently noted, the U.S.
The US FederalTradeCommission announced that the promoters of recruitment-based cryptocurrency schemes have been permanently banned from operating or participating in any multi-level marketing program.
The new Preventing Financial Crimes Playbook explores the latest financial crime developments, including a rise in financial fraud related to the ongoing COVID-19 pandemic, new threats targeting digitalpayment apps and guidance from PNC Financial Services on how multilayered defense systems can help curb the tide of digital scams.
FederalTradeCommission (FTC) announcing in June that it would be taking a hard line on violations in this industry that seem to take advantage of vulnerable individuals. Offering swift digitalpayments can help companies searching for these freelancers to seal the deal over competing offers.
Materials published by the companies earlier in the year show what the companies said would be the business model alignment, with card-based payments and security solutions contributing 42 percent of EBITDA (which PYMNTS notes as a rough measure of free cash flow used by Wall Street) and global merchant acquiring as 58 percent of EBITDA.
The FederalTradeCommission (FTC) revealed details about its recent testimony before the U.S. Senate Subcommittee on Antitrust, Competition Policy and Consumer Rights.
The FederalTradeCommission (FTC) is talking to large merchants to discover if some retailers are being blocked from routing digitalpayments over alternative debit networks, sources told Bloomberg. Investors from the U.S. are on course to break fundraising records, with $23.9
Snap is joining other Facebook competitors in participating in discussions with investigators from the FederalTradeCommission (FTC), with its legal team maintaining a dossier on Facebook outlining allegations of stifling competition.
Against a backdrop of comprehensive inquiries, the DOJ and the FederalTradeCommission (FTC) are being criticized by lawmakers for debating which agency should probe which tech company. The membership roster for the CCIA includes Amazon, Facebook and Google, among others.
The average monthly fraud volume rose 133 percent for mid- to large sized retailers selling digital goods through the mobile channel. According to the PYMNTS Securing B2B Payments Report , criminals last year successfully made off with $4.2 trillion from the worldwide economy.
FederalTradeCommission (FTC). and elsewhere, lawmakers and regulators are taking closer looks at the technology industry, as well as topics that concern digitalpayments and commerce — topics that can go beyond antitrust concerns, but are often related to them. The latest evidence of that came on Tuesday (Feb.
And, despite reporting on July 12 that the FederalTradeCommission (FTC) had reached an agreement to fine Facebook $5 billion, shares in the social media company were up $3.84 Visa has acquired Munich-based payment gateway PayWorks. and closed at $204.87. Payroll Fraud Could Cost KeyCorp $90M. Why Visa Acquired PayWorks.
billion fine from the European Commission on anti-competitive grounds, a hit that will continue to be a threat as legal bodies investigate and regulate Big Tech. Alphabet’s earnings were also partially affected by a $1.7
The FederalTradeCommission has said that multiple investigations into platform firms are underway beyond those centered on Facebook — but those probes have yet to be identified. Meanwhile, as reported just this week, the Justice Department may widen its antitrust investigations.
Beyond being less convenient than other payment types, check payments are being actively discouraged by industry professionals. The FederalTradeCommission offers straightforward advice: “don’t give out your bank account number.” It is estimated that 75% of businesses have experienced check fraud.
The government is so concerned about cash disappearing they have written legislation that would require retailers to accept cash payments. And even though digitalpayments have exploded in the past few years, attempts to take economies entirely cashless, such as in India, met resistance and were rolled back. TJ holds a B.S.
There’s a lot going on in the retail payments space – defined as transactions between two consumers, between consumers and businesses, or between two businesses. Some of the changes are related to new digitalpayments methods like P2P apps, tap-to-pay, and cryptocurrency, which are all growing options in retail environments.
More consumers keep using Facebook even as the social network said on Wednesday (April 24) that it faces a fine of between $3 billion and $5 billion from the FederalTradeCommission over privacy.
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