Fraud detection

An acquisition as large as Fiserv's deal to buy First Data has lots of moving parts, but one big piece may be a new First Data product that's designed to improve the vexing problem of payment approvals.

The fraud challenge faced by issuers and merchants alike has become increasingly complex over the last few years with the prevalence of e-commerce and cross-border payments. Visa's response to these trends has benefited heavily from the global scale it got by reabsorbing Visa Europe in 2016.

Banks and merchants absorb billions of dollars in payment card fraud annually, but it's not for a lack of tools designed to stifle that fraud. It's becoming increasingly apparent that those tools simply aren't being used to their fullest capabilities.

The agency's vote Thursday threatens to block many of the industry's communications with customers, though financial institutions did win one concession.

The agency's vote Thursday threatens to block many of the industry's communications with customers, though banks did win one concession.

The U.K.’s Nationwide Building Society has invested in Ordo, a fintech that protects consumers from invoice and payments fraud by allowing billers to send payment requests directly to it.

Stripe has launched Chargeback Protection through its machine-learning fraud prevention system called Radar.

Albert Ko, who had been the chief transformation officer of Intuit, says he will work to improve Zelle's interface to make it more appealing to consumers.

While advanced push payment fraud has dominated the headlines in recent years, another type of scam has been costing U.K. businesses millions — even though many companies are completely unaware of it.

A Wells Fargo customer was interrogated, fingerprinted and mistakenly arrested for check forgery after a series of mistakes on the bank's part. He was cleared, and Wells says it made an error, but they are now fighting in civil court.