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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. The case was prosecuted by Homeland Security Investigations, along with agents of the U.S.

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How Axos Bank Uses Multilayered Filtering To Keep Bad Bots Out And Good Bots In

PYMNTS

Digital FIs are particularly concerned about fraud’s threats, including San Diego-based Axos Bank , which has more than $12 billion in assets to protect and sees the constant battle with “bad” bots as a never-ending arms race. “We A security gap in one filter will likely be caught by the other due to their different focus areas. “If

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Amazon Tracker: Cash In Bloom

PYMNTS

The online retail giant’s estimated market cap sat at just a tad over $439 billion—nearly twice that of Walmart. Concern is reportedly growing among merchants as to how strong Amazon’s security actually is. This week, Amazon is at it again. At the time of writing, one AMZN share was worth $919.43, up 0.37

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Building Bridges For Chinese Consumers To U.S. Commerce

PYMNTS

Only 5 percent of Chinese citizens hold passports, and the nation’s largest online travel service, Ctrip , predicts that number will double over the next two years. merchants don’t accept the only Chinese credit card that they have, Union Pay. and most U.S. Going forward, the road will get much easier for Alipay’s 600 million users.

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Retail Pulse: Walmart Tests ‘Great Workplace,’ Sainsbury’s Opens Cashierless Store

PYMNTS

The move comes the company is investing in refurbishing stores, rolling out faster shipping for eCommerce orders and offering store pickup as well as online grocery delivery. The paper also reported that the impetus of the move wasn’t cost savings, but meeting changing online shopping habits as well as staff demands.

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2020 GonzoBanker Awards

Gonzobanker

By creating secure and productive remote work environments for employees and helping their teams deal with the stress of working at home (with kids learning from the same house, spouses working in the next room, and myriad other pressure points). The Future is Now Award Goes to contactless cards and card-not-present payments.

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Fintech Fundings: 22 Companies Raise $590 Million Week Ending Oct 9

Fintech Labs Insights

Developer tools for mobile card acceptance . HQ: San Francisco, California. HQ: San Diego, California. Online payments & collections platform. Tags: Credit cards, processing, SMB, merchants, developers, API, Finovate/FinDEVr alum. Source: Crunchbase. CardFlight. HQ: New York City. Latest round: $4.2