Payments

Fraudsters tend to be oporptunistic. They’re constantly looking for new ways to abuse businesses and cardholders, making it difficult for security professionals to keep up, says Chargeback 911 and Global Risk Technologies' Monica Eaton-Cardone.

The central bank will inject $1.5 trillion into the money market, including buying more longer-term bonds; JPMorgan says its CEO “is doing very well” as he recovers from heart surgery.

Australia’s Airwallex group is seeking about $200 million in a series D equity funding round to bankroll its cross-border payments business globally, according to people familiar with the matter.

Cash use will suffer because of this outbreak, and there are factors other than germs contributing to this trend. A growing work-from-home workforce will funnel more shoppers into digital channels, including ones they may have never tried before.

In the tug-of-war between banks and third parties over who controls access to customer account data, payments are primed to play a key role as banks start to take action and regulators begin to weigh in.

As the fintech industry looks for ways to bring on more women, crossover hiring — recruiting from traditional financial services firms to fintechs — has emerged as an effective strategy, Donna Parisi of Shearman & Sterling and Michelle Tran of NYC Fintech Women write.

The Amazon effect in financial services will be much bigger than the one experienced by the retail industry—it will have a deeper impact due to the financial services industry being bigger and more vulnerable, and because consumers are now more comfortable with change, says TigerGraph's Todd Blaschka.

Firms such as Afterpay that offer financing to shoppers have been enjoying rapid growth. But their model is under scrutiny from regulators, being mimicked by credit card lenders and faces heightened risks in a downturn.

Digital financial technology provider Wirecard AG is partnering with Grab to process transactions from the GrabPay e-wallet in Malaysia, the Philippines and Singapore.

Just two months after UnionPay bolstered its support of QR code payments in China through an arrangement with Tencent Holdings Ltd., the company is working with Network International to initiate its first pilot for QR code payments at a merchant location in the UAE.