PYMNTS

NOVEMBER 23, 2020

AI is not only being adopted to improve workflows and grow revenues, but has also been enlisted in the fight against fraud.”. The surge of digital orders carried a toxic tide of fraud, and many companies turned to supervised machine learning to deal with it. This establishes identity trust or risk in real time.

Mobile 289

Mobile Boston Fraud Colorado 289

PYMNTS

MAY 12, 2020

In the journey to improving B2B payment processes, it’s unlikely that any single solution will be the silver bullet to combating friction. In this week’s examination of payment rail innovation, PYMNTS explores the latest efforts to tackle B2B payments pain points. Deluxe Preserves The Check Workflow.

Payments 130

Payments Fraud Community Boston 130

PYMNTS

DECEMBER 5, 2019

Faster Payments Council (FPC) as a founding sponsor, the Fed announced in a press release on Thursday (Dec. Our payment system is a vital part of America’s infrastructure that touches everyone,” said Esther George, president and chief executive officer of the Federal Reserve Bank of Kansas City. payment system is improved.

Kansas City 135

Kansas City Payments Kansas Boston 135

PYMNTS

DECEMBER 11, 2017

Federal Reserve System has appointed its Payments Security Strategy leader, the agency announced Friday (Dec. Kenneth Montgomery, first vice president and chief operating officer of the Federal Reserve Bank of Boston, is taking up the position. Treasury and financial market, among other responsibilities.

Security 112

Security Kansas City Payments Boston 112

PYMNTS

OCTOBER 12, 2020

There is no dearth of faster payments initiatives — and no certainty that there will be one faster payments scheme to rule them all. Along the way, not surprisingly, we’ll transition more fully to digital payments across modernized (and streamlined) rails, flowing domestically and eventually across borders.

Payments 244

Payments Boston System Operations 244

PYMNTS

AUGUST 7, 2020

For the Federal Reserve, real-time payments will take time — three or four years’ time, to be specific. Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States.

America 189

America Kansas City Payments Kansas 189

PYMNTS

MARCH 16, 2018

Through the collaborative efforts of those with backgrounds in payments and security, the Federal Reserve’s Secure Payments Task Force has published “Payment Lifecycles and Security Profiles.” The profiles provide a perspective on the most common payment types, covering enrollment, transaction flow and reconciliation.

Security 100

Security Payments Boston Fraud 100

PYMNTS

AUGUST 21, 2020

New Report: How Behavioral Analytics Help FIs Block Fraud at the ITM. Jim Cunha, senior vice president of secure payments and FinTech at the Federal Reserve Bank of Boston, tells Karen Webster why the Fed is working with MIT to explore digital dollars. Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars.

cryptocurrency 159

cryptocurrency Maine Boston Analytics 159

PYMNTS

MAY 5, 2020

“Credit unions across the country are on high alert for scammers looking to take advantage of members during the pandemic and are stepping up fraud prevention efforts as a result,” according to PYMNTS’ April Credit Union Tracker® done in collaboration with PSCU. This, in turn, helps mitigate fraud.”.

Fraud 239

Fraud Analytics Boston New York 239

PYMNTS

DECEMBER 6, 2019

In today’s top news in payments, Visa has announced it’s going to begin a new certification program in dispute resolution, as well as fund scholarships that can be used toward the training. Also, the co-founder of Boston-based payments firm Circle will step down from his co-CEO role at the end of the month.

Training 130

Training Boston Payments Tools 130

PYMNTS

DECEMBER 24, 2020

Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Meanwhile, Visa said that crypto-banking platform operator Ternio had joined the payments giant’s Fast Track program as a cryptocurrency-focused enablement partner. Keeping An Eye On Fraud.

cryptocurrency 258

cryptocurrency Bitcoin Course Boston 258

PYMNTS

NOVEMBER 15, 2019

Welcome to the PYMTS Weekender, where we recap the week’s biggest development in payments and commerce. 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. Facebook Launches ‘Facebook Pay’ For Cross-App Payments.

Google 139

Google Payments Apple cryptocurrency 139

PYMNTS

SEPTEMBER 17, 2018

This small business is a really small business: a guy working out of a teeny tiny storefront in a little town north of Boston. The handwritten invoice he left with my cushions included his name, his mobile phone number and the payment methods he accepted: cash or check. He delivered my cushions, as promised, about a month ago.

Payments 195

Payments Innovation Boston Branding 195

Abrigo

OCTOBER 31, 2022

Money laundering red flags include cash payments or cash payoffs on loans, early payoffs, and large wire transfers for loan payments. Stay up to the date on emerging fraud trends. Fraud Prevention. New York City and Miami were the original targets under the first order in 2016. keep me informed. BSA Rules and Regulation.

New York City 195

New York City Las Vegas District of Columbia San Antonio 195

American Banker

JULY 9, 2020

But Boston Fed chief sees more interest among banks and borrowers if the economy worsens; the failed payments company is being investigated for its alleged role in a $100 million caper.

Maine 46

Maine Boston Fraud Payments 46

PYMNTS

JANUARY 8, 2020

By using secret card-reading devices and pinhole cameras at various locations, Rusu and others were able to commit a widespread bank fraud conspiracy that targeted various banks in Massachusetts, New York and New Jersey from August 2014 to November 2016, according to law enforcement.

San Diego 130

San Diego Cards New Jersey Massachusetts 130

ABA Community Banking

MARCH 29, 2018

Picks Boston Consulting Group to produce research Payments Risk Management Online Security.

Study 40

Study Boston Fraud Risk Management 40

Abrigo

JUNE 27, 2023

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases.

El Paso 195

El Paso Miami United States New York City 195

PYMNTS

OCTOBER 3, 2019

Today in the payments news roundup, FinTech startup Brex is launching a business cash management account to take the place of traditional business bank accounts. Mastercard: Fraud-Fighting’s New Mantra — Test, Protect, Prevent . And Gerber noted that the attacks are going to keep on coming. .

Management 108

Management Fraud Payments Boston 108

PYMNTS

OCTOBER 31, 2016

From loyalty to inventory management and data to omnicommerce strategy, there’s no shortage of available features and options for retailers looking to upgrade to full-service payments solutions. Around the full-service payments world. To download the October edition of the Payments as a Service Tracker™ , click the button below.

Payments 100

Payments Boston Retail System 100

PopularBank

DECEMBER 1, 2021

Which means now might be a good time to explore alternative payment options. Some risks are unavoidable, but there are ways to lower the financial impact and reputational risk of fraud, and to measure and reduce its impact. Fraud can be analyzed two ways. The first is the likelihood of the fraud occurring.

Online 98

Online Mobile Fraud Boston 98

PYMNTS

JANUARY 20, 2020

In today’s top payments news, U.K. In the latest Order To Eat Tracker, Ayr Muir, CEO of Boston-based Clover Food Labs, discusses how personalizing the digital experience through its app and self-serve kiosks has helped retain person-to-person engagement while increasing mobile ordering by 32 percent. Regulators in the U.K.

Google 130

Google Regulation Data Boston 130

Payments Source

MARCH 29, 2018

payments system. The announcement comes after a Federal Reserve Board task force issued a report in September that said it would further examine options for modernizing the U.S.

Study 63

Study Fraud Payments System 63

Celent Banking

APRIL 7, 2017

Many of us at Celent just came back from a busy and exciting week in Boston. The rain and clouds couldn't obscure spectacular views from the State Room overlooking the Boston harbour. Payments Replatforming. Fraud Management and Cybersecurity. Payments Product. Credit Suisse AG, Switzerland. DenizBank, Turkey.

Case Study 189

Case Study Boston Risk Management Study 189

ABA Community Banking

DECEMBER 8, 2017

Boston Fed’s Montgomery to head anti-fraud effort Payments Security.

Security 40

Security Boston Strategy Payments 40

PYMNTS

DECEMBER 29, 2016

A paper published by Boston Consulting Group (BCG) described today as a critical moment in banking history as players face pressure from alternative players and corporate clients that demand newer, better services. “The The time for this radical shift is now,” Boston Consulting Group declared. Fraud Prevention Remains Paramount.

Security 181

Security Fintech Boston Fraud 181

PYMNTS

JANUARY 30, 2020

Talk of “friction” in the payments industry is mostly about removing obstacles to consumer transactions, and how easily (or not) those payments get processed on the backend by merchants and banks. PYMNTS research found that 42 percent of B2B payments were made via paper check in 2019, for example.

Management 130

Management Las Vegas Cards Taxes 130

CFPB Monitor

FEBRUARY 18, 2021

On February 2, 2021, the Federal Reserve (“Fed”) announced that the launch date for its instant payments platform— FedNow —would be sooner than originally expected. is lagging behind other countries with respect to instant payments platforms. The United States is a relatively new player in the real-time payments space.

United States 78

United States Boston Tools Payments 78

PYMNTS

SEPTEMBER 30, 2019

As weaknesses in authorization systems can be exploited by online thieves, financial services firms are more vulnerable to hackers and get hit 300 times more often than other businesses, according to the Boston Consulting Group. As cyberattacks grow in scale and sophistication, it is critical that we advance trust in our payments system.”.

Boston 177

Boston Security System Cards 177

PYMNTS

SEPTEMBER 23, 2019

This is a market that Boston-based ButcherBox is catering to by delivering grass-fed, grass-finished meat and other humanely raised, sustainably sourced meat and seafood directly to customers’ doors on a monthly basis. The firm’s growth in customers and revenue did come with an increased risk of fraud. will reach 56.8

Fraud 108

Fraud Analytics Oklahoma Security 108

PYMNTS

AUGUST 3, 2016

Phase 1 of the Faster Payments initiative launches on Sept. will be able to accept Same Day payments, with the option to originate them. It’s providing an enhanced service that everybody is already familiar with, it’s not a brand new payments system where people have to figure out, ‘How do I use this? Kenneally explained.

Boston 100

Boston Fraud Strategy Payments 100

Independent Banker

JANUARY 31, 2022

The Federal Reserve’s new payments rail launches in one year. Here’s how community bankers, payments experts and fintech vendors suggest using the time to prepare. payment system.”. Photo by Traveler1116/iStock. The FedNow Service is launching in early 2023, giving community banks about a year to plan. By Colleen Morrison.

Community Bank 91

Community Bank Community Resources Fraud 91

PYMNTS

OCTOBER 13, 2016

NanoPay is finding that for mobile payments to take off, even among early adopters, using a phone to pay must be much more rewarding and convenient than tapping a card. Korean consumers see no evil in mobile payments. The statistics get even better as the daily average number of mobile payments increased almost 83 percent to 810,000.

Mobile 100

Mobile Payments Apple Samsung 100

PYMNTS

OCTOBER 22, 2018

fans traveling to Boston for the start of the World Series will want to pack — and possibly purchase for the first time — sweaters, as this week will be an excellent opportunity to enjoy New England’s crisp fall weather. In payments and commerce this week, a fall chill also rolled through. Gift Cards’ New Unfavorable Fans.

Data 134

Data Fraud Cards Regulation 134

PYMNTS

NOVEMBER 9, 2020

Nearly three years after the introduction of the second Payment Services Directive ( PSD2 ) in the U.K., A paper by the Emerging Payments Association EU found that “In the opinion of all observers, open banking on the one hand and instant payment on the other is the recipe for all tomorrow’s payment solutions.”.

Fintech 285

Fintech Data Regulation Innovation 285

Independent Banker

NOVEMBER 24, 2015

Current best practices in fighting wire fraud. With wire fraud on the rise, community banks have to step up precautions to protect themselves and their customers. Wire fraud incidents nearly doubled to 27 percent in 2014, from 14 percent a year earlier, according to the 2015 AFP Payments Fraud and Control Survey.

Community Bank 70

Community Bank Fraud Atlanta Community 70

PYMNTS

JUNE 20, 2019

From Chipotle Mexican Grill to Square , QSRs and payment firms alike are enabling a world of ordering innovation. And payments firms are helping restaurants with mobile orders: Square, for instance, is releasing new order management integrations for Square for Restaurants.

Mobile 116

Mobile Jacksonville New York City New York 116