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OTP Bots Are a Growing Threat: What Financial Institutions Need to Know

Abrigo

Underground” Telegram Channel offering OTP bot subscriptions for worldwide banking fraud . The “Pay Mode” lets the fraudster link a credit card (presumably a stolen one) to a Samsung or Apple Pay wallet. . The calls rely on fear, convincing victims to act to “avoid” fraud in their accounts. Fraud Prevention.

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Swift Prepaid, Bitty Pair Up For Virtual Merchant Cash Advances

PYMNTS

The funds can then be uploaded to a mobile wallet, including Apple Pay, Samsung Pay and Google Pay. Swift Prepaid is also supporting Bitty’s ability to provide immediate access to cash advances that are uploaded to business debit cards.

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Sizzle Or Fizzle: Prosper, Alibaba, Snapchat – And Amazon Dash

PYMNTS

Online Fraud. The latest CyberSource annual report on online fraud tells the tale of card-not-present fraud not just going down, but going down by a whole big bunch – across all channels. Mobile was down, online was down and even cross-border fraud was down. Prosper/Alt Lending. Problem – what problem?

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Sizzle Or Fizzle: Bitcoin Busts, Payments Get Faster And The Eyes Have It

PYMNTS

Consumers always have their debit card handy and and can provide that number to a sender – knowing that if something goes wrong they are protected. Samsung unveiled its new Galaxy Note 7 this week to rave reviews. Now, if only Samsung Pay was cross platform …. This is a sizzle for everyone since it removes a ton of friction.

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Gonzo Notes from Money20/20

Gonzobanker

Samsung Pay was launched in the United States after piloting in South Korea. Samsung bought LoopPay with its Magnetic Secure Transmission technology, which gives it the ability to reach merchants in a way that other wallets cannot due to having both the NFC (near-field communication) and MST (magnetic secure transmission) technologies.

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Sizzle/Fizzle: In Banking, Truth as Currency

PYMNTS

If you were in the market for a credit card or looking to sell a house, this past week was a good one, as rewards points on the former, and prices for the latter were both up. Samsung : Looking to reinvent the smartphone — no small feat. Oh, and Samsung Pay is up to 240 million users and nearly 900 banks across the globe.

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From Investing To Budgeting, How Millennials Are Disrupting Personal Finance

CB Insights

Being comfortable with the idea of alternative financial systems has opened the door to a variety of innovations, from alternative investment vehicles like cryptocurrency to point-of-sale lending alternatives. Borrowing: Credit-shy millennials embrace PoS lending. Budgeting & Saving: Millennials go mobile and embrace automation.