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NY Man Gets Jail Time For $390K Card Skimming Scheme

PYMNTS

A New York man, 39-year-old Bogdan Rusu, was sentenced to 60 months in prison on charges of using credit card skimming tactics to steal $390,141 from various New Jersey banks, according to a Department of Justice (DOJ) report. From there, they used the information to steal customers’ money from their accounts.

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What U.S. Bank Is Doing To Drive Virtual Card Adoption

PYMNTS

Many accounts payable (AP) professionals turning to electronic payments to streamline their companies’ payment processes — specifically, how they pay invoices from suppliers — are putting virtual cards at the top of their lists, and for good reason. The cards can also be fully integrated into ScaleFactor’s accounting and finance platform.

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Mastercard, Cross River Partner for New Cash ‘Pick-Up’ Service at Bank ATMs

Bank Innovation

EXCLUSIVE — Payments technology company Mastercard has partnered with New Jersey-based bank, Cross River, to debut its “Mastercard Cash Pick-Up” service, the bank announced today. Cross River is the first bank to […].

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Chase Card Services President On Why It’s Time For Cards To Tap And Go

PYMNTS

To that end, Chase , the largest card issuer in the U.S., 14) that it’s rolling out tap-to-pay functionality across its Chase Visa card portfolio. The effort is broad and far-reaching, considering how more than 90 million debit and credit cards are wielded by Chase customers across the United States. said Wednesday (Nov.

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Goldman Leads $50M Funding For Credit Card Startup Deserve

PYMNTS

Goldman Sachs is the lead investor in a $50 million funding round for credit card startup Deserve, CNBC reported on Monday (Nov. Deserve offers credit cards to nontraditional consumers and sells its cloud-based platform to companies wanting to launch their own branded cards.

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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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NJ Transit Upgrades Reduce Cash, Paper Ticket Usage

PYMNTS

New Jersey Transit announced it is planning to modernize its fare payment system through proposed upgrades that would reduce cash and paper-based tickets, and provide customers with quick, easy and convenient ways to pay. Earlier this year, its Board of Directors approved a contract renewal with Conduent Transport Solutions Inc.

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