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US Card Skimming Grew Nearly 5x in 2022, New FICO Data Shows

FICO

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

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Today In Digital-First Banking: Alfa-Bank Joins Contour Trade Network; JPMorgan Names New Liquidity Solutions And Escrow Exec

PYMNTS

Contour allows bank customers to keep track of the handling and updating of trade finance transactions in real time, with the assistance of blockchain technology. 3), the Alabama Securities Commission granted the Florida-based CORO a money transmitter license, providing it with permission to do business in the state.

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How FIs Adapt Fraud Detection During Times Of Behavioral Upheaval

PYMNTS

Financial institutions can keep customers safe by accurately determining when attempted transactions are legitimate versus when they are being made by fraudsters who have stolen customers’ cards or taken over accounts. You’re really wanting to start with almost a brand new transaction history.” .

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How The Pandemic Makes 90-Day Customer Histories A Fraud-Fighting Weakness

PYMNTS

Financial institutions (FIs) are therefore expected to offer more contactless cards this year and some are also unveiling services intended to help consumers easily add cards to their digital wallets. consumers to shift as much as $100 billion in annual spending from credit to debit cards. Around the Next-Gen Debit World.

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Starling Bank Now Accepts Apple Pay

PYMNTS

bank, has now added Apple Pay support as an online payment method, which means customers can add their Starling debit card to Apple Wallet. Customers of Starling will be able to load their payment cards into their digital wallet before the physical card comes in the mail. Starling Bank, the digital-only U.K.

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B2B Payments Startup Finexio Lands Series A

PYMNTS

10) that it secured $4 million in Series A funding led by James R. Existing backers Florida Funders, Loeb.nyc, Zach Coelius, Mobile Financial Partners and other angel investors also participated in the oversubscribed round, reports said. B2B payments startup Finexio announced new funding this week. The company said Wednesday (Jan.

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Payments App And Device Take The Cake At Restaurant Trade Show

PYMNTS

The Florida Restaurant and Lodging Show is an annual three-day event for hospitality professionals to network, source, purchase and learn about new industry trends to follow, how to increase profits and how to ramp up their restaurant or lodging business to engage and serve customers in innovative ways. 11 through Oct.

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