Visa Finalizes Featurespace Acquisition to Strengthen AI Fraud Prevention
Visa has officially completed its acquisition of Featurespace, a renowned developer of real-time AI-driven payment protection technology. This strategic merger bolsters Visa’s capabilities in combating payments fraud and financial crime ... Read More
North Korea Hackers Behind $1.3 Billion Crypto Theft in 2024
Hackers linked to North Korea were responsible for 60% of all cryptocurrency stolen globally in 2024, totaling $1.3 billion out of the $2.2 billion pilfered, according to a Chainalysis report. The figure highlights a sharp increase in the ... Read More
Fear of Fraud in Instant Payments Shouldn’t Hinder Progress: US Faster Payments Council
As instant payments continue gaining momentum globally, concerns over fraud present a critical challenge. However, Reed Luhtanen, executive director of the US Faster Payments Council (USFPC), urges the financial sector to address fraud ... Read More
CFPB Files Lawsuit Against Major Banks Over Zelle Fraud
The Consumer Financial Protection Bureau (CFPB) has launched a lawsuit against JPMorgan Chase, Bank of America, and Wells Fargo, accusing them of enabling widespread fraud on the P2P payments platform Zelle. Zelle’s Growth and Challenges ... Read More
PalmPay and Jumia Join Forces to Advance Nigeria’s Digital Payment Ecosystem
In a significant move to foster Nigeria’s cashless economy, PalmPay, the operator of Nigeria’s leading mobile wallet, has partnered with African e-commerce leader Jumia. This collaboration is set to enhance the convenience and ... Read More
Justt Secures $30 Million in Series C Funding to Expand Global Footprint
Chargeback management leader Justt has raised $30 million in a Series C funding round led by Zeev Ventures, with support from existing investors Oak HC/FT and F2 Venture Capital. The new investment brings Justt’s total funding to $100 ... Read More
Chime Financial Prepares for IPO, Plans 2025 Launch
Digital-first mobile bank Chime Financial has reportedly filed for an Initial Public Offering (IPO), according to sources cited by Bloomberg. The IPO will be led by Morgan Stanley, with Chime aiming for a public debut in 2025. Neobank ... Read More
Temenos Banks Unlock Rapid Digital Asset Services via Taurus Integration
Temenos, a Swiss banking technology firm, has partnered with Taurus, a leading digital asset infrastructure provider, to enable banks to launch full-scale digital asset services in a matter of days. This integration empowers financial ... Read More
New Zealand Commerce Commission to Lower Merchant Service Fees for Card Payments
The New Zealand Commerce Commission has announced a draft decision to reduce the fees businesses pay for accepting Visa and Mastercard card payments, aiming to cut costs and benefit both merchants and consumers. The Cost of Card Payments ... Read More
Neonomics Alleges Anti-Competitive Practices by Norwegian Banks in Payments Market
Open banking data vendor Neonomics has filed a formal complaint with the Norwegian Competition Authority (NCA), accusing the country’s banking sector of engaging in anti-competitive practices that hinder market innovation and fair ... Read More