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NEW REPORT: SMBs Bet On PaaS Solutions To Take On Online Giants

PYMNTS

Facing a downturn in customer foot traffic and fierce competition from major online players like Amazon, some physical retailers are now turning to Payments-as-a-Service solutions as a way to level the playing field by improving the customer experience.

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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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Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

PYMNTS

And as PYMNTS has previously reported , the Boston Federal Reserve has been working with the Massachusetts Institute of Technology to explore tech infrastructure. The Fed survey also found that about 20 percent of respondents reported switching to paying online or over the phone for items from restaurants and big-box stores.

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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. At the center of it all: online gaming, and the way we access the latest popular diversions (or don’t). Fed Exploring ‘Hypothetical’ Digital Currency With MIT.

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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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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. A majority (55.6

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Crypto 2020: One Step Up; Two Steps Back

PYMNTS

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. . But as with any nascent payments technology, the bad guys are always lurking – especially with cryptos, where anonymity is prized.