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Payment Security

Source: FIS

Global financial technology leader FIS (NYSE: FIS) has today announced that its SecurLOCK card fraud management solution is poised to deliver an increase in accurately identified and prevented fraudulent card transactions utilizing a new collaboration with FIS Fintech Accelerator alumnus Stratyfy.

Source: Cashfree Payments

Cashfree Payments, India's leading payments and API banking company, announced the launch of ‘RiskShield’, India’s first real-time risk management solution for payment gateways. It aims at reducing fraudulent activities upto 40%.

The Consumer Financial Protection Bureau (CFPB) is aiming to extend regulatory oversight to tech giants like Apple and Google, which provide digital payment apps and wallets.

Australian banks have introduced a digital platform called the Fraud Reporting Exchange (FRX) in an effort to crack down on authorized push payment scams. The platform enables the reporting of fraudulent payments in near real-time, increasing the chances of freezing and returning funds to affected customers, thus disrupting fraudsters and scammers.

Source: e& enterprise

e& enterprise today announced its strategic partnership with Fils, a groundbreaking fintech platform, establishing a new standard in the digital payments sector by promoting sustainability.

Lloyd's of London, the insurance marketplace, has issued a cautionary statement, suggesting that a major cyber attack on a systemic payments system could result in a staggering $3.5 trillion economic impact on the world.

Coinbase has filed a suit against the Securities and Exchange Commission, asking a court to make the regulator respond to a petition from last year on the "rules to govern the regulation" of digital assets.

Source: Payment Systems Regulator

The Payment Systems Regulator (PSR) has appointed Dan Moore as its new Head of Strategy and Intelligence.

Financial regulatory authorities from the United Kingdom, Singapore, Switzerland, and Japan have initiated a collaborative effort to explore potential applications of fund and asset tokenization as well as decentralized finance (DeFi).

Source: Riskified

Riskified (NYSE:RSKD), a leader in eCommerce risk intelligence, today announced its partnership with Deloitte, a leader in fraud and financial crime advisory services, to empower merchants with real-time insight into how their chargebacks, approval rates and fraud costs compare to similar companies in their space.

Source: ACI Worldwide

Authorized Push Payment (APP) scam losses are on the rise and expected to climb to $6.8 billion — a combined compound annual growth rate (CAGR) of 11% — by 2027 across six leading real-time payment markets (U.S., U.K., India, Brazil, Australia and Saudi Arabia) according to Scamscope, a new report by global payments software company ACI Worldwide and GlobalData, a leading global analytics firm.

London's Leading Fintech Companies Unite to Demand Urgent Review of Hidden Bank Fees for International Payments.

Source: DCMA

Today, at the International Monetary Fund (IMF) Spring Meetings 2023, the Digital Currency Monetary Authority (DCMA) announced their official launch of an international central bank digital currency (CBDC) that strengthens the monetary sovereignty of participating central banks and complies with the recent crypto assets policy recommendations proposed by the IMF.

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