PYMNTS AM Radar: Disputes and Fraud; FinTech Fairness; Delivering Cravings; Invisible Payments; ICYMI

Today is Monday, May 16, and nuns are Tik-Toking about #ConventLife, while North Korean leader Kim Jong Un is launching a military response to the country’s first (acknowledged) COVID-19 outbreak. Meanwhile, President Biden announced new policies to tackle affordable housing amid high inflation and McDonald’s is selling its business in Russia after 32 years. Here’s what else should be on your radar this morning. 

Disputes and Fraud: Businesses with their own proprietary tools for fraud and dispute resolutions rate them more effective than those using third-party aggregators. But the reality doesn’t always jibe with perceptions. Dispute-Prevention Solutions: Third-Party Tools Limit Dispute-Related Losses, a PYMNTS and Verifi collaboration, takes a deep dive into the various tools businesses use for disputed card transactions — and how effective their systems are at curtailing losses from disputes and fraud. READ MORE

FinTech Fairness: The digital shift affects commerce and banking everywhere, but more has to be done to regulate FinTech services to ensure underserved populations have the same choices as more affluent populations, New York State Department of Financial Services Superintendent Adrienne Harris told Karen Webster. New York is one of the only states that regulates bitcoin and related cryptocurrencies. READ MORE

Delivering Cravings: Alex Canter, fourth-generation owner of Canter’s Deli, a Los Angeles icon, and also CEO of virtual restaurant company Nextbite, told PYMNTS’ Karen Webster that 90% of restaurants could meet more demand if they used their resources to target consumers’ food needs in the off-hours. Nextbite meets customer cravings with virtual restaurant concepts in collaboration with chef and restaurateur Tom Collichio and delivers using digital order aggregators. READ MORE

Invisible Payments: Digitizing business payments and making them invisible is something Chad Wallace is tackling two months into his new role as executive vice president of business solutions at Mastercard, he told PYMNTS’ Karen Webster. He said business payments are at the cusp of a modernization pivot. READ MORE

ICYMI. Individuals and businesses should brace for a recession, Goldman Sachs Senior Chairman Lloyd Blankfein said. While Goldman doesn’t forecast a “sharp rise” in joblessness, it does expect an uptick in unemployment. Inflation, the Ukraine-Russia war, runaway gas prices and supply chain issues and related shortages of consumer goods are all adding up to a recession. READ MORE