Payments

Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.

Citigroup is now the third, and largest, U.S. financial institution to offer the Mastercard True Name feature, which lets customers use their preferred name, rather than their legal name, on credit and debit cards. The cards are targeted specifically for transgender and nonbinary people, who often face outsized financial hardship.

Synthetic data represents a direct one-to-one transformation of the original data that reveals true insights into consumer spending, says Facteus' Lorn Davis.

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

In too many places, identity verification and other vetting is still done manually, says Signicat's John Erik Setsaas.

Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.

MagicCube has launched i-Accept, a software-based replacement for traditional terminals, allowing acquiring banks and financial services providers to offer merchants an option for contactless and PIN payment acceptance through Android devices.

Amid the disruption of the coronavirus pandemic, many companies are taking a chance on innovative new technologies to keep their customers engaged.