The Payments Association

DECEMBER 10, 2024

This is evidenced by the fact that payment card fraud alone is projected to increase by over $10 billion between 2022 and 2028, according to the data. Why is it important? It highlights the urgent need for payments firms to address AI-driven fraud to protect financial security, maintain customer trust, and comply with regulations.

AI 88

AI Fraud Detection Fraud Prevention Deepfake 88

The Fintech Times

MARCH 12, 2025

As the government pushes its broader economic agenda, the question remains: does this decision streamline regulation or create new risks for the payments industry? A push for simplification The PSR, which oversees payment systems including Faster Payments and Mastercard , will have its functions largely absorbed by the FCA.

FinTech 59

FinTech Payment APIs and Integration Fraud Prevention Push-to-Card 59

Finextra

JUNE 23, 2025

It classifies payment stablecoin issuers as regulated financial institutions, pulling them firmly under anti-money laundering and consumer protection rules. It classifies payment stablecoin issuers as regulated financial institutions, pulling them firmly under anti-money laundering and consumer protection rules.

Embedded Finance 52

Embedded Finance Stablecoins Finance Payment APIs and Integration 52

The Fintech Times

JUNE 26, 2025

Lowe, who had been serving as fractional CFO since October 2024, joins full-time from Fitzgerald Power to support Yaspa’s next stage of growth. The London-based fintech is planning expansion into new markets and sectors, building on its instant payments and identity platform for igaming.

FinTech 59

FinTech AI Online and Mobile Banking Non-Bank 59

Payments Dive

JULY 14, 2025

Mersinger noted that regulating the industry with the laws already in place has “created ambiguity,” thus limiting innovation and pushing changemakers to other jurisdictions with clearer crypto rules. By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime.

Privacy 117

Privacy Stablecoins Regulations Treasury 117

PYMNTS

JANUARY 25, 2021

According to Ossama Soliman , chief product officer at open banking provider TrueLayer , the very fact that there are so many payment options pushes new entrants to differentiate themselves from the pack. “But But actually, it raises the bar for what it takes to add a new payment method into the checkout.”. Click, Biometric, Done.

Instant Payments 120

Instant Payments Push-to-Card Payments Money Laundering 120

PYMNTS

NOVEMBER 16, 2020

For instance, if you go to a restaurant and you have a credit card, probably you will use it because it is more convenient than picking up your phone, starting a transaction or things like that,” Kavakama said. “We Real-time payments continue to gain traction around the world. Case in point: Brazil. PIX has advantages over SITRAF.

Real Time Payments 131

Real Time Payments Wire Transfer Push-to-Card Credit Cards 131

PYMNTS

NOVEMBER 29, 2017

Today, as commerce has shifted from brick-and-mortar to virtual settings, transaction laundering has followed. In a way, it’s sort of like cleaning – or laundering , if you will – the funds, much as one might wash one’s hands of a crime. Laundering isn’t new, but the techniques are,” said Frechtling. The three main takeaways?

Money Laundering 46

Money Laundering Acquirers Transactions Crime 46

PYMNTS

JULY 21, 2020

Mastercard on Monday (July 20) announced the expansion of its cryptocurrency partner program to streamline the process for crypto-wallet providers to issue secure, compliant payment cards to their customers. It’s issuing Mastercard-branded payment cards that will allow consumers to pay with cryptocurrency reserves. “We’ve

Visa 127

Visa Cryptocurrency Blockchain Bitcoin 127

PYMNTS

JANUARY 1, 2021

Featuring Ingo Money and an interview with Americans For Financial Reform , the Disbursements Tracker detailed the predicament of living paycheck to paycheck. Many consumers were still facing pandemic-related financial strains going in to the holidays, making flexible payment options all the more important as they began buying gifts.

Economy 103

Economy Online and Mobile Banking Credit Union Money Laundering 103

PYMNTS

OCTOBER 30, 2020

Compliance with oversight laws, especially those involving anti-money laundering (AML) or know-your-customer (KYC) regulations, is a perennial struggle for FIs of all sizes. It cannot be overstated how integral non-cash payments are to the global economy, with the United States processing more than 174.2 Automating Compliance.

Automation 91

Automation Process Disputes AML 91

PYMNTS

DECEMBER 12, 2019

Last year, the bank hired Manuela Veloso, Carnegie Mellon’s head of machine learning, to push the bank forward in this department. Earlier this year, CEO Jamie Dimon said that by using machine learning, the bank could save $150 million in terms of credit card fraud. We basically have eliminated manager approvals,” Beer said.

Money Laundering 52

Money Laundering Push-to-Card Audit AI 52

PYMNTS

FEBRUARY 1, 2019

After being implicated in one of the largest money laundering scandals ever, Estonia is struggling to realize its dream of becoming a digital society, according to Reuters. The money amounted to about €200 billion (more than $229 billion USD) of suspicious payments, and offshore shell companies were used to hide it.

Money Laundering 51

Money Laundering AML Push-to-Card Breach 51

PYMNTS

SEPTEMBER 21, 2020

Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) show that several of the largest global banks moved money on behalf of scores of individuals and enterprises involved in criminal financial activity. The suspicious activity alert effectively gives them a free pass to keep moving the money and collecting the fees.”.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) SARS 139

Clearly Payments

MARCH 11, 2024

Overall, Cryptocurrency is pushing traditional banks and the overall financial system to become more efficient. Canada, known for its somewhat progressive stance towards financial innovation, has been aware and monitoring this transformative technology. This means capital gains taxes apply when you sell crypto for a profit.

Cryptocurrency 104

Cryptocurrency Consumer Protection Financial Inclusion Payments 104

The Payments Association

NOVEMBER 14, 2024

However, SMEs face numerous challenges, such as talent shortages, high operational costs and evolving technology demands, meaning many are eager to explore new tools and strategies, including those offered by fintech, to help them overcome these hurdles and fuel their expansion. The embedded finance sector is projected to be pivotal for SMEs.

Multi-Currency 88

Multi-Currency Embedded Finance Push-to-Card Money Laundering 88

PYMNTS

NOVEMBER 15, 2019

This edition includes news about Facebook’s new payments push, Amazon’s new robotics plan and why Google is working more closely with financial institutions. Goldman Denies Discriminatory Apple Card Practices, Says It Will Reassess Limits. Money Laundering Epidemic. Facebook Launches ‘Facebook Pay’ For Cross-App Payments.

Money Laundering 55

Money Laundering Push-to-Card Payments Credit Union 55

FICO

APRIL 6, 2020

Banks have suffered from bad publicity when money-laundering happens, or their customers fall victim to fraud. Banks have suffered from bad publicity when money-laundering happens, or their customers fall victim to fraud. Authorized push payment fraud relies on customers making a payment without stopping to think.

Real Time Payments 52

Real Time Payments Money Laundering Payee Payments 52

PYMNTS

APRIL 27, 2020

Nothing brings money to top of mind like tax season — and tax refunds and stimulus payments , doled out in the wake of a pandemic known as the coronavirus. The trillions of dollars in stimulus funding and tax refunds being extended to families, individuals and businesses is coming — but slowly. Very slowly. Tax refunds? The Digital Dollar.

Blockchain 108

Blockchain Tax Refunds IRS Fed 108

PYMNTS

JANUARY 22, 2021

A problem compounded, he said, when in many cases those rules have requirements that successfully push players like Ingo out of the market and ultimately slow progress. A problem compounded, he said, when in many cases those rules have requirements that successfully push players like Ingo out of the market and ultimately slow progress.

Online and Mobile Banking 72

Online and Mobile Banking Push-to-Card Rules Processors 72

FICO

JUNE 26, 2018

The ability to send money quickly makes financial crime both easier to commit and more difficult to trace. As discussed in my earlier post , real-time payments make multiple types of fraud more attractive and enable the fast movement and laundering of criminal proceeds. Real-Time Payments Equal Real-Time Crime.

Real Time Payments 63

Real Time Payments Instant Payments Irrevocable Payment Irrevocability 63

Stax

JANUARY 15, 2024

Are you struggling with resource constraints caused by soaring credit card processing costs? Credit card surcharging can help offset these expenses, but it can be tricky. TL;DR Credit card surcharging involves adding a fee to transactions with credit card payments, offsetting processing costs. No surprise there.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

PYMNTS

FEBRUARY 8, 2018

Essentially, it means handling everything other than card issuing, authorization and transaction processing. Being a program manager isn’t easy. Perhaps that’s why companies like Cascade found themselves so frustrated working under a program manager. The startup remembers struggling to get its program up and running back in 2011. “We

Payment APIs and Integration 67

Payment APIs and Integration OFAC Money Laundering Processors 67

PYMNTS

OCTOBER 24, 2018

Fewer consumers use physical currency when making purchases, and are instead turning to more modern, digital methods of payment, particularly when making purchases online with debit cards. This pushed Bonkowski and his team to explore digital authentication solutions to protect its global user base. and around the globe.

Authentication 66

Authentication Push-to-Card AML Debit Card 66

PYMNTS

APRIL 21, 2016

The landscape of cyberfraud – specifically payment card intrusions – is littered with piecemeal attacks, scattershot lone actors and small groups. In attacks that year, FIN6 had managed to steal millions of payment card numbers. The numbers were then in turn sold on to a “card shop” used to buy and sell that data.

Push-to-Card 40

Push-to-Card Money Laundering Compromise Credential 40

PYMNTS

FEBRUARY 19, 2019

Canada legalized cannabis after Prime Minister Justin Trudeau said prohibition wasn’t working and provided illicit money to gangs, while allowing for unchecked use by the country’s youth. That market could reach as much as $5.1 Cannabis Spending. Bank Participation. Payments Warning.

Legal 71

Legal Payments Push-to-Card Law Enforcement 71

FICO

OCTOBER 10, 2018

In August, the UK’s Financial Ombudsman joined the debate on authorised push payment fraud. The pressure for banks to tackle push payment fraud is mounting – and even if liability isn’t transferred wholesale to the banks, the scope for bad publicity and loss of reputation is significant. Banks are not powerless to tackle the issue.

Push-to-Card 56

Push-to-Card Payments Authentication Crime 56

Finovate

JULY 23, 2024

as of 2022 (compared to 17% for cash and more than 31% for credit and charge cards). Featurespace’s signature solution, its ARIC Risk Hub , leverages Adaptive Behavioral Analytics and Automated Deep Behavioral Networks to model and predict individual behavior in real-time to enhance fraud prevention and anti-money laundering efforts.

Checks 64

Checks Fraud Detection Financial Crimes Crime 64

FICO

OCTOBER 20, 2020

The UK is home to the most sophisticated Authorized Push Payment (APP) scams in the world. In 2019, banks’ losses of £456 million nearly equaled the £470 million attributed to card not present (CNP) fraud. Now, in 2020, APP scams are expected to eclipse card fraud, fueled by niche schemes related to the COVID-19 pandemic.

Scams 52

Scams Irrevocable Payment Push-to-Card Irrevocability 52

PYMNTS

SEPTEMBER 14, 2016

Hyperwallet offers cash pickup at half a million locations globally, also enabling its matchmaker customers to pay their workers via program-run branded cards, accounts, virtual cards, their own cards or even via check. The New, Remote Workforce. Warrington said the goal is to give people options.

Push-to-Card 69

Push-to-Card On-Demand Money Laundering Cross-Border 69

The Fintech Times

JULY 31, 2024

“Issues such as data privacy, cross-border transactions, and adherence to stringent anti-money laundering (AML) protocols require constant vigilance and adaptation. . While many organisations are successfully solving genuine issues , regulators are as keenly focused on these firms as those out to maximise profits.

Compliance 64

Compliance AML Due Diligence Regulations 64

PYMNTS

MARCH 10, 2017

This time last month, many of the major exchanges in China halted bitcoin and other cryptocurrency withdrawal capabilities for one month as part of an effort to combat money laundering at the request of the PBoC. “What goes up must come down” is, unfortunately, the most appropriate proverb to open this week’s bitcoin tracker.

Bitcoin 46

Bitcoin Money Laundering Digital Currency Push-to-Card 46

The Fintech Times

MAY 22, 2024

In its Annual Fraud Report 2024 , UK Finance detailed the amount its members reported as stolen through payment fraud and scams, with a primary focus on authorised push payment (APP) fraud and unauthorised fraud. ” Unauthorised fraud losses Unauthorised fraud is when your card details are used by someone else without your permission.

Scams 59

Scams Finance Push-to-Card Romance Scams 59

Green.Money

JULY 27, 2019

They even lobbied congress for new anti-money laundering laws geared towards pushing cash out. The goal was to hook everyone on credit card, and destroy cash and check payments. What does that have to do with credit cards? You should not be spending 3-4 percent or more of your money accepting payments.

Wire Transfer 52

Wire Transfer Credit Cards Push-to-Card Checks 52

PYMNTS

JANUARY 31, 2018

The survey from that identity assurance provider, conducted across 2,000 individuals, found that when it comes to applying for financial products at a financial institution (FI) — from checking accounts to credit cards — 40 percent of those online applications are never finished. Time is a factor, perhaps not surprisingly.

Online and Mobile Banking 61

Online and Mobile Banking Push-to-Card Money Laundering AML 61

Fintech Review

NOVEMBER 6, 2024

Beyond being the top platform for low-cost, efficient token swaps, 1inch offers a range of innovative tools, including a secure crypto wallet, a portfolio tracker for managing digital assets, a developer portal to build on its cutting-edge technology, and even a debit card for easy crypto spending.

Compliance 52

Compliance Financial Crimes Regulatory Compliance Legal 52

PYMNTS

JANUARY 20, 2021

The ongoing pandemic has pushed more consumers online to carry out their shopping and banking, with fraudsters following suit. Bad actors have moved to take advantage of the rush to digital payments — particularly those made with debit cards — leaving banks and financial institutions (FIs) racing to keep them off their platforms.

Debit Transaction 52

Debit Transaction Transactions Debit Card Security 52