If someone stole your phone, how quickly would they be able to steal your money? It’s a scenario that Manhattan District Attorney Alvin Bragg says has become all too common: an unwitting person hands over their phone to someone who asks to use it for...
Corporate card usage has surged in popularity, especially among small- to medium-sized businesses (SMBs) grappling with inflationary pressures and rising costs. However, despite this trend, the traditional financial services sector continues to hinder the widespread adoption of business credit cards, resulting in a mere 28%...
In the connected economy, InsurTech sprouted as a relatively new category that removed some of the friction between consumers and various types of coverage, from health plans to life insurance. Now, artificial intelligence (AI) is on the scene, and the stage could be set for...
Payment fraud incidents have been on the rise, increasing 88% since December 2021, PYMNTS Intelligence research reveals. For instance, 11% of consumers who paid for groceries experienced payment fraud in March 2023, compared to 5.7% in December 2021. Amid this surge in fraud incidents, consumer fears...
The fraudsters grow ever-wilier, the attacks more brazen. And effective. A blog post this week from the Atlanta Federal Reserve noted that “at least” 60 credit unions were “knocked out of commission” by ransomware attacks towards the end of the year. Those CUs had all been...
Smart mirrors present an opportunity for retailers to embed shopping capabilities into the try-on process, PYMNTS Intelligence reveals. By the Numbers PYMNTS Intelligence’s report “How We Will Pay Report: How Connected Devices Enable Multitasking Among Digital-First Consumers” drew from a survey of more than 4,600...
Santander Mexico, a subsidiary of global banking giant Santander, is preparing to launch its digital bank service. Matias Nunez, the head of digital and innovation at Santander Mexico, said the service, Openbank, will launch this year, Reuters reported Tuesday (Jan. 23). Openbank received its license...
Over a long enough horizon, challenges represent opportunities for innovation, improvement and growth. That’s the case even when those challenges stem from behaviors that appear to be intractable, like the unavoidable prevalence of paper checks and legacy payment methods within the B2B payments ecosystem. But while...
Mastercard has launched the Mastercard Biometric Authentication Service, a solution aimed at enhancing security and convenience for consumers. The service leverages biometrics, such as fingerprints, iris scans and facial recognition, to verify identity and secure personal data, the company said in a Wednesday (Jan. 24)...
