"Payments firm PayPal (PYPL.O) announced it had resolved a global outage that disrupted services for nearly two hours today (Thursday). The issue began at 1053 GMT. It affected multiple PayPal products, including account withdrawals, the Venmo peer-to-peer payment...
Meta Shuts Down 2 Million Accounts Tied to ‘Pig Butchering’ Scams
"Meta has shut down over 2 million accounts this year linked to "pig butchering" scams, which trick users into investing in dubious cryptocurrency schemes. The accounts were sourced to "forced-labor" scam compounds, mainly in Southeast Asia, where organized criminals...
Retail Fast Payment Systems as a Catalyst for Digital Finance
"The rise of digital technologies is challenging the dominance of traditional financial institutions, such as banks. Payments have been the most deeply impacted, and a number of initiatives aim to further increase their speed and convenience. Retail fast payment...
Intuit Launches AI-Powered Intuit Assist for QuickBooks, Giving Millions of Businesses a Competitive Edge
"Intuit Inc. announced the launch of Intuit Assist for QuickBooks, a generative AI (GenAI)-powered financial assistant that transforms how businesses run and grow their business."
Biocatch Unveils World’s First Behavior-Based Financial Crime Intelligence-Sharing Network
"BioCatch announced the launch of the BioCatch Trust™ Network, the world's first inter-bank, behavior-based, financial crime intelligence-sharing network. The BioCatch Trust™ Network initiative protects member bank customers against financial crime, scams,...
Russia’s Digital Assets Challenge Western Sanctions
"The Kremlin has introduced new laws establishing a regulatory framework for cryptocurrency mining (crypto mining), allowing it to validate blockchain transactions and thus to make and receive international payments in digital assets. The...
Is Rupay Set to Break the Duopoly of Visa & Mastercard?
"Third-party transaction facilitators like VISA and Mastercard play a crucial role in the global payment ecosystem, enabling secure and seamless transactions between consumers, merchants, and financial institutions...RuPay, India’s domestic payment network, is gaining...
Retailers Tell Senate Credit Card ‘Swipe’ Fees are ‘Adding Inflationary Pressure to the U.S. Economy’
"Growing credit card swipe fees are driving up costs for retailers and prices for consumers but could be reined in by passage of the Credit Card Competition Act, the National Retail Federation told the Senate Judiciary Committee."
Worldline Enables GarantiBBVA International N.V. To Comply With EU Instant Payments Regulation With Cloud-Based Solution
"Worldline has signed a contract with GarantiBBVA International N.V. to implement its cloud-based instant payments solution. This multi-year agreement will empower GarantiBBVA International to seamlessly comply with the latest regulatory requirements for instant...
CFPB Finalizes Rule on Federal Oversight of Popular Digital Payment Apps to Protect Personal Data, Reduce Fraud, and Stop Illegal “Debanking”
"The Consumer Financial Protection Bureau (CFPB) finalized a rule to supervise the largest nonbank companies offering digital funds transfer and payment wallet apps. The rule will help the CFPB to ensure that these companies – specifically those handling more than 50...