A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.

Search Payments News

June 9, 2022

On the web

More Crooks Tapping ‘Synthetic Identity Fraud’ to Commit Financial Crimes

PC Magazine

“Identity theft remains a popular way for cybercriminals to ruin your credit score. But to steal even more and evade detection, a growing number of crooks are resorting to what’s called “synthetic identity fraud,” which involves creating fake personas to dupe lending agencies…To stop synthetic identity fraud, the US is developing the Electronic Consent Based Social Security Number Verification service, which is capable of checking whether a Social Security number matches known records.”

January 14, 2022

On the web

Nacha Brings Verification of Payment-Related Data to Its Phixius Network

Digital Transactions

“As part of its effort to help users of its Phixius payment-data network mitigate fraud and enhance payment-routing certainty, Nacha announced Thursday the network will enable originators, fintechs, and financial institutions that originate and receive electronic payments to verify payment-related information, such as account ownership, account numbers, and routing information.”

July 9, 2021

On the wires

Socure Unveils Industry’s First BNPL-Specific Solution, Extending Its Leadership in Identity Verification and Trust for Alternative Payment Providers

Socure , the leading platform for digital identity verification and trust, today announced the introduction of the first identity verification and fraud solution purpose-built for the Buy Now, Pay Later (BNPL) industry. The solution leverages the technology and data currently used by more than 100 top BNPL providers, alternative payment providers, fintechs, banks, and credit card issuers. Socure developed the solution using deep identity and transaction data that enables multiple leading BNPL providers to attract new merchants, power their growth by converting more qualified shoppers in real time, and reduce loss rates.”

June 7, 2021

On the web

Identity Verification Company Trulioo Lands $394M


“Online identity verification platform Trulioo has closed a $394 million series D round of funding at a $1.75 billion valuation, coming at a time when businesses across the spectrum have had to embrace digital transformation due to the global pandemic. Similar to how the need for electronic signatures has skyrocketed due to pretty much every activity going online over the past year, companies have also had to rapidly transition to technologies that allow them to verify that their users are who they say they are, without relying on in-person meetings. This is particularly pertinent in highly-regulated industries such as financial services.”

April 21, 2021

On the wires

Boku Partners With French Carriers to Launch Mobile Identity Services in France

Boku Inc., (AIM: BOKU ), the world’s leading provider of mobile payment and identity solutions, and French mobile services providers SFR, Orange and Bouygues Telecom, today announced that they have signed a partnership to launch mobile identity products aimed at protecting consumers against cyber-hacks, account takeover attacks, SIM swap attacks, and other forms of digital fraud.”

March 23, 2021

On the web

Jumio Raises $150M As Its All-in-one ID Authentication Platform Crosses 300M Verified Identities


“Digital identity services — used as a key link between organizations to verify that you are who you say you are online and individuals logging into those services — have come into their own in this past year. Now, one of the companies providing digital identity products is announcing a large round of funding, underscoring both the market size and its ambitions to be a central player in that space. Jumio , which has built a platform that provides a variety of digital identity tools and technology — using biometrics, machine learning, computer vision, big data, and more to run checks on ID documents, log-ins, to help prevent suspicious financial activity, identity theft and more — has closed a $150 million round of funding.”

March 19, 2021

On the web

Andreessen-Backed Startup Pindrop Agrees to Buy Next Caller


“Voice security startup Pindrop Security Inc. has agreed to buy Next Caller Inc. , making its first acquisition to build out personalization and verification services as the coronavirus pandemic spurs a surge in call volumes. Pindrop Chief Executive Officer Vijay Balasubramaniyan said the deal was for a mix of cash and equity with additional payments for hitting certain financial milestones, but he declined to specify the deal terms. The purchase will boost revenues by 10% and speed up the timeline for a possible initial public offering to about 18 months, he said in an interview.”

June 18, 2020

On the web

Payfone raises $100M for its mobile phone-based digital verification and ID platform


“As an increasing number of daily and essential services move to digital platforms — a trend that’s had a massive fillip in the last few months — having efficient but effective ways to verify that people are who they say they are online is becoming ever more important. Now, a startup called Payfone, which has built a B2B2C platform to identify and verify people using data (but no personal data) gleaned from your mobile phone, has raised $100 million to expand its business.”

December 16, 2019

On the web

CULedger Completes Blockchain Identity Pilot With Three US Credit Unions

FinTech Futures

“CULedger claims that MyCUID users can verify their identity by using a biometric function on their smart phone, such as voice, fingerprint or facial recognition. The vendor says that data from its pilot indicated that the average time to verify a member’s identity had been reduced from the industry average of more than 50 seconds to ten or less. “As financial cooperatives, credit unions are more inclined to work together than their bank counterparts in order to best serve their members’ needs,” said John Ainsworth, president and CEO of CULedger.”

October 29, 2019

Payments News

Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.

Glenbrook Payments Boot camp®

Register for the next Glenbrook Payments Boot Camp®

An intensive and comprehensive overview of the payments industry.

Train your Team

Customized, private Payments Boot Camps tailored to meet your team’s unique needs.

OnDemand Modules

Recorded, one-hour videos covering a broad array of payments concepts.

Glenbrook Press

Comprehensive books that detail the systems and innovations shaping the payments industry.