Investment

The watchdog and three Democratic lawmakers urged the agencies to stop using knowledge-based verification methods to grant access to their online portals.

Facebook's Libra, or GlobalCoin, will be cryptocurrency's largest test — fueled by a collection of huge investors that will determine if mainstream merchants and consumers will actually use a payment system featuring an alternative currency.

Financing and payment technology provider Sunbit has received $26 million in a Series B funding round through Zeev Ventures and participants Group 11 and Chicago Ventures.

India’s government has taken drastic steps to encourage and standardize digital transactions, and those moves appear to be paying off.

The Los Angeles company has established a network that is designed to help verify the identities of consumer and small-business borrowers. It says 20 lenders are participating and that it is trying to recruit more.

Long gone are the days when consumers had their Social Security and driver’s license numbers pre-printed on their paper checks for faster identity verification. Consumers now understand that such precious elements of their identity need to be better protected.

The Australian API payments and rewards platform provider Verrency has closed on a $7 million (AU$10 million) Series A funding round, bringing the total funds raised to-date to $14 million (AU$20 million).

The top Democrat on the Banking Committee suggested the absence of data brokers at a hearing on privacy legislation was "cowardice."

Payments software provider SpotOn Transact LLC has received $40 million in new funding from Franklin Templeton and participant Dragoneer Investment Group.

Digital payments are creating a wealth of data that can be used to inform other types of financial services for managing debt or promoting financial inclusion — and these services are, in turn, attracting the interest of venture capitalists.