Contrary to many third-party payment providers' practice of pushing customers to lower-cost payment rails, Regalii wants its end users to pay their bills with credit cards. The goal of this arrangement is, of course, to make money for banks.
Attacks on ATMs and point-of-sale machines are getting more sophisticated and frequent. Crooks are trying to get as much use as they can out of their skimming devices before the migration to chip cards is complete.
Unlike other “suspicious activity report” categories, a new proposal to add a “cyberevent” category would require institutions to detect and report digital mischief whether directed at a customer’s account or the bank itself.