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NCR Buys StopLift To Prevent Retail Fraud

PYMNTS

“In addition to creating new value for our retail customers around the world, StopLift’s fraud detection technology will be a key enabler of our frictionless commerce product strategy.”. NCR said StopLift’s technology detects scan avoidance methods and flags unscanned, unpaid merchandise for loss prevention. “We

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

PYMNTS

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.

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Today In Payments: California Proposes Financial Watchdog; Germany Launches Investigation Into Amazon

PYMNTS

The Federal Reserve is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing a digital currency. How QSRs Are Fighting Digital Food Fraud. Fed Exploring ‘Hypothetical’ Digital Currency With MIT. Just Eat Takeaway to End Its Gig Worker Model.

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Payfone Nabs $24M In Funding; Partners With TransUnion

PYMNTS

Payfone announced that it has secured a $24 million funding round, led by TransUnion. The funding also included participation from existing investors Synchrony, MassMutual Ventures, Massachusetts Mutual Life Insurance Company and Wellington Management. Payfone serves six of the top 10 U.S.

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Crypto 2020: One Step Up; Two Steps Back

PYMNTS

Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Jeremy Allaire , CEO of financial technology firm Circle , told PYMNTS that digital currencies are ready to transition from speculation to become more broadly adopted in everyday commerce. . Keeping An Eye On Fraud.

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Synchrony Says Erroneous Email Not Tied To Data Breach

PYMNTS

Five senators wrote a letter to Amazon CEO Jeff Bezos, asking him to explain how security surveillance company Ring uses people’s data and video. Personal data can be exploited by foreign intelligence services to amplify the impact of espionage and influence operations,” the letter said.

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Is Self-Checkout Catnip For Criminals?

PYMNTS

The technology, similar to that of Amazon Go stores, uses computer vision and artificial intelligence (AI) to identify what customers take from the shelves. In the abovementioned reports of French supermarkets exploring automation, the need for increased security was emphasized. Potential Downsides. Solutions . A majority (55.6

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