Yunjia Yuan For Fobes / Dbenitostock Getty Images Consumers rarely even think about who processes their payments at checkout. Whether it’s being handled in the back offices of a traditional bank like JPMorgan or by a fintech like PayPal or Stripe, it merely needs to be fast, and hassle free. However, behind the scenes there […]
Pixel-Shot/Shutterstock Online fraud is today’s most common crime. Victims are often told they are foolish for falling for it, but fraudsters use psychological mechanisms to infiltrate the defenses of their targets, regardless of how intelligent they are. So it’s important to keep up with the latest scams and understand how they work. Recently, consumer protection […]
For decades, retailers have protested the fees Visa V -3.3% and Mastercard MA -3.7% charge them to accept credit and debit cards. “Pay by bank” is the latest effort to circumvent those fees by letting people pay directly from their bank accounts. Financial services consulting firm Sionic has partnered with MX, a company that connects […]
Fraud is a growing issue for fintech companies, as bad actors are doing everything from stealing identities to exploiting the slow U.S. bank-to-bank transfer network to siphon off money. The problem has gotten so bad that some fintechs, including investment service Betterment and digital banks HMBradley and One, have temporarily banned transfers from other digital […]
Today Bakkt, a mobile wallet provider and digital asset platform founded in 2018 released its first earnings as a public company. The firm began trading on the New York Stock Exchange (NYSE) on October 18th following a SPAC merger with VPC Impact Acquisition Holdings (VIH). Casual observers may find the results underwhelming. After all, the […]