PYMNTS

Chatbot Company Sued By Delta Over Data Breach

PYMNTS

Delta Airlines Inc. has filed a lawsuit against a firm that powered a chatbot on its website. The lawsuit alleges that [24]7.ai

Citibank Sees Credit Card Charge Offs, Delinquency Rates Spike

PYMNTS

Citigroup reported that its July credit-card delinquency rate increased to 2.91 percent in July, up from 2.56 percent in June. The lender’s three-month average is 1.54 percent, with a net charge-off rate of 2.91 percent, an increase from 2.56 percent in June, reported Seeking Alpha.

Cards 263

Visa’s CyberSource On The Digital Payments Evolution

PYMNTS

The “online version of a payments terminal” was how the media portrayed Visa ’s acquisition of CyberSource in 2010. Then, it was a very easy way to mentally place the online payments processor in what was at the time a nascent online payments ecosystem. And very nascent it was.

Can Banks Get On The Super App Train?

PYMNTS

Here’s some bad but potentially motivating news about banks: So far, they are missing out on an emerging opportunity to get into the “super app” game, which is shaping up to be one of the biggest focuses of payments and retail innovation in the 2020s.

How FinTechs Combine The Benefits Of A Gateway, Hub And Switch

PYMNTS

FinTech firms will travel the world and describe what they are up to using brand-new terms that are different or exciting. People might draw comparisons in response — wait a second, isn’t this kind of like? — and use some more familiar terms that have been in the marketplace for a long time.

Mastercard Buys Nets For $3.19B

PYMNTS

In its biggest acquisition to date, Mastercard will buy Nets for 2.85 billion euros ($3.19 billion).

New Strain Of Ransomware Striking US, European Firms 

PYMNTS

Cyber insurance claims are spiking as a new type of ransomware targets companies across the U.S. and Europe, the The Financial Times reported on Sunday (Aug.

US 257

Walmart’s Answer To Facebook’s Libra: The Walmart Coin

PYMNTS

There are many ways to introduce an idea to the world. There is something to be said for going big — fireworks, a parade and a vast array of headlines.

FTC Chair: Breaking Up Big Tech Is An Option

PYMNTS

The chief of the U.S. Federal Trade Commission (FTC) said he’d he’d be willing to break up tech companies if necessary, according to a report by Bloomberg.

Visa Checkout Could Be Gone By 2020; Google Pay Removes Support

PYMNTS

Visa is moving toward discontinuing its Visa Checkout service sometime next year, according to reports. It appears the company’s service, which was introduced in 2013 and competed with services like PayPal, will be shuttered in favor of a new EMV SRC-based service.

Google 262

Why FedNow Will Slow Real-Time Payments

PYMNTS

I’m from the government and I’m here to make sure you get your paychecks faster – even instantly…. …if if you can just hang in there until about 2024.

How Airbnb, Lime, Turo, Fiverr And Newegg Are Using Instant Payments

PYMNTS

Whether it’s a merchant or their customer, an employer or their employee — every party involved in a transaction wants to be paid immediately, without any hassles or surprises.

Visa On eCommerce’s First Quarter Century — And Next Inflection Point

PYMNTS

On August 11th, 1994, Philadelphia’s Phil Brandenburger purchased a Sting album (“Ten Summoner’s Tales ,” to be specific) with a Visa card, and changed the world forever.

Why Payments’ New World Isn’t A Solo Mission

PYMNTS

“No person is an island,” so goes the line from an old poem, meant to show how we are all interconnected. That line may lean toward the metaphysical, but the wisdom is pretty literal when it comes to the future of banking, playing out in these last months of the 2010s.

Digital Bank Monzo Jumps Into Lending In The UK

PYMNTS

Monzo , an online bank out of London, has added loans to its menu of services, the Financial Times reported on Thursday (Aug. Current customers in the U.K. can apply for loans as the online bank advances its efforts toward profitability. .

Visa CEO On Apple Card, Big Tech, Libra

PYMNTS

In a wide-ranging televised interview, Visa CEO Al Kelly discussed Apple ’s new co-branded credit card, Big Tech ’s move into financial services, and Visa’s interest in the Libra Association , per reports from CNBC.

Apple 266

The Fed Debuts FedNow

PYMNTS

It’s now official. The Fed plans to build its own instant clearing and settlement rails.

System 269

Venmo Adds Another Instant Transfer Option

PYMNTS

Venmo has added another option for instant transfer of money to a bank account, according to a blog post by the company on Monday (Aug. Having money in your Venmo account is an awesome feeling — it makes paying friends and family that much easier,” the company said. “We

Cards 243

REPORT: What Sharing Economy Platforms Don’t Get About Digital ID

PYMNTS

Sharing economy platforms have permeated every aspect of consumers’ lives. Some 60.1 million Americans hitch rides through ridesharing offerings like Uber or Lyft , for example, and 41 million book travel or accommodations with homesharing services like Airbnb or Hotels.com. Meanwhile, 19.5

Report 262

Mastercard, Salesforce Team To Offer Small Business Solutions

PYMNTS

Software company Salesforce has joined Mastercard’s small business program, along with Intuit, to supply solutions in the small business space, according to a release. The aim is to help businesses succeed by increasing revenue, boosting customers and improving customer engagement.

Taking On SMB Banking Friction Without Reinventing The Wheel

PYMNTS

The jury is still out on the future of opening banking in the U.S.

FDIC 258

FinCen Director On Why Casino Cooperation Is Central To Fighting Financial Crime 

PYMNTS

Cooperation in an environment that is rapidly advancing on many technological fronts was the theme when FinCEN Director Kenneth A. Blanco took to the stage at the 12th Annual Las Vegas Anti-Money Laundering Conference yesterday (August 13).

Money-Inspired Music And Why Hip Hop Tops The Charts

PYMNTS

It used to be all about the Benjamins , all about the cold hard cash – in this case, U.S. 100 bills, as expressed in a Puff Daddy track from 1997.

Subscriptions Change How Online Gaming Plays To Win

PYMNTS

Video games have changed a lot since the early days of home gaming in the late 1970s and early ’80s. The graphics improved, the games got more expensive and elaborate and a whole lot more people from every walk of life are playing them.

Online 232

What Cambodia’s Debt Crisis Means For Microlending

PYMNTS

There is a debt crisis slowly but surely building in Cambodia that could see millions of people losing their homes and family farms — the result of microlending run amok amongst 15 percent of the population.

Study 232

FCA Agrees To 18-Month SCA Implementation Timeframe

PYMNTS

The Financial Conduct Authority said Tuesday (Aug. 13) that it has agreed to a phased implementation of the Strong Customer Authentication (SCA) rules slated to start taking effect beginning next month.

Finexio, Payscout Join AP, AR Payment Services

PYMNTS

Accounts payable solution provider Finexio is collaborating with payment processing firm Payscout to enhance B2B payments services. In a press release Wednesday (Aug.

Hacker Arrested In Capital One Breach Affecting 100M+ 

PYMNTS

A former Amazon systems engineer working for Capital One is said to be the woman behind a breach that accessed the data of over 100 million people. Software engineer Paige Thompson, 33, allegedly boasted about the hack and left crumbs for investigators to follow, The New York Times reported.

How Visa’s Using Blockchain Tech To Simplify X-Border Payments

PYMNTS

Global payments revenues are at an all-time high, and experts predict that they could even climb to be a $2 trillion industry by 2020. Cross-border payment revenues currently account for approximately $200 billion, a significant slice of the payments pie. Currently, there are 0.7

MoneyGram Sees Transaction Growth Outside US, Led By Digital Efforts

PYMNTS

MoneyGram International posted results that missed top-line expectations, but beat at the bottom as restructuring efforts continued amid weakness within the company’s domestic money transfer business but growth in international corridors.

US 269

Why Retailers Need Better Payments To Boost Mobile Retail App Appeal

PYMNTS

The best is yet to come. As long as checkout and payments are part of the plan. In one sense, that describes the situation for mobile commerce — specifically, retail apps — as 2020 looms. New research from PYMNTS and LISNR digs deep into consumer views of mobile retail apps.

Retail 258

Are Mobile Payments Finally Ready To Ignite In Japan?

PYMNTS

Japan, in the last several years, has been something of a puzzle among mobile payments watchers around the world. It’s the market that should ignite but stubbornly refuses to. Its population is internationally renowned for being enthusiastic early tech adopters.

Mobile 217

New Vocalink CEO Dobbie Will Lead UK B2B Payment Expansion

PYMNTS

The Mastercard company Vocalink tapped Gregor Dobbie to be its new CEO, the company announced in a press release. . Managing director since 2017, Dobbie will lead Vocalink in the expansion of B2B payment services in the U.K. as well as maintain the company’s critical national infrastructures. .

Banks Tap FinTechs For Remittance Overhaul

PYMNTS

The cross-border payment market is thriving, and trends are expected to continue over the next few years. In fact, cross-border payments are expected to reach $240 billion in value by 2024. For these transactions to run smoothly, however, communication must remain seamless and secure.

Is It Time To Retire Passwords For Digital Authentication?

PYMNTS

Even if one tried, it would be hard to ignore the near-constant reports of data breaches. Based on the flurry of consumers scrambling to get their $125 settlement from Equifax , data security is an issue with far-reaching consequences.

China’s Central Bank Completes Development Of Digital Currency

PYMNTS

The People’s Bank of China (PBoC) said it is now ready to launch its own blockchain-based digital currency after five years of research, CoinTelegraph reported on Sunday (Aug.

Post-Worldpay Deal, FIS Eyes eCom and Real-Time Payments

PYMNTS

Fidelity National Information Services (FIS) released results Tuesday (Aug. 6) that showed organic growth for FIS and recently acquired Worldpay as standalone entities and updated the outlook for the combined entity — with particular emphasis on real-time payments and eCommerce opportunities.

Why Mastercard Acquired Nets

PYMNTS

Faster payments are quickening the pace of billion dollar acquisitions in the payments space. Mastercard said Tuesday (Aug. 7) that it would spend 2.9 billion Euros, ($3.2 billion USD) to buy Nets, a Denmark based payments platform.

60 LATAM Banks Can Now Process Cross-Border Payments Using Bitcoin

PYMNTS

Bantotal , a core Latin America banking service provider that works with 60 banks in 14 countries, has partnered with Bitex to perform cross-border payments using bitcoin blockchain, according to reports.

Neobank Joust Raises $2.6M To Improve Freelancer Payments

PYMNTS

The funding round was led by PTB Ventures, with help from Accion Venture Lab, Financial Venture Studio and Techstars.

FDIC 231

That Inexplicable In-N-Out Burger, And Marketing Stunt #Fails

PYMNTS

This week, the world was presented with a truly unusual retail mystery: The Case of the Inexplicable In-N-Out Burger. The story starts at 6:30 a.m. EST on July 20 in Jamaica, Queens, when Lincoln Boehm and his wife were heading to McDonald’s.

Closing The Last Mile In Prescription Delivery 

PYMNTS

In many retail markets, there is incredible pressure to pick up the pace of delivery.

Hacker Prompts Shutdown Of ECB Website

PYMNTS

A European Central Bank (ECB) website has been shut down after a malicious hacking attack infected the site. Reuters is reporting that the incident happened on Thursday (Aug 15). No “market-sensitive” data that could compromise the markets was stolen, the ECB said.