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Breaking News articles for May 2022

Verizon finds ransomware robust and rising

Friday, May 27, 2022

Ransomware attacks are maturing in terms of execution, attack surface and geographic reach, according to the Verizon Business 2022 Data Breach Investigation Report (2022 DBIR) issued May 24, 2022. The report, now in its fifteenth year, is known for delivering cyberattack trend analysis in a down-to-earth, highly readable style. The 2022 DBIR warns enterprises of escalating activities, attributing four out of five data breaches to global organized crime.

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Fed pilots instant payments framework

Friday, May 27, 2022

The Federal Reserve is piloting its much-anticipated new payments initiative, FedNow, with an eye toward making instant payments a reality beginning sometime in 2023. A few organizations have successfully connected and delivered test messages over a pilot version of FedNow, laying the groundwork for full-scale, end-to-end testing later this year, the Fed said in a statement.

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Green Sheet explores 5G with Utimaco's Mario Galatovic

Tuesday, May 24, 2022

5G ultra-wideband technology began rolling out in April 2019 and continues to make its way around the globe, creating an infrastructure designed to support agile video streaming and multi-device connectivity. The Green Sheet recently interviewed Mario Galatovic, vice president of products and alliances at Utimaco about the changes we can expect with 5G technology.

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Worldline taps India’s ecommerce, demographic dividends

Friday, May 20, 2022

As firms expand globally, India’s diverse, digital-first economy offers unparalleled opportunities in international ecommerce, according to Ramesh Narasimhan, chief executive officer, India, Worldline Merchant Services, a leading payments and transactional services provider. In a recent interview with The Green Sheet, Narasimhan described India’s market, detailing how Worldline’s cross-border services have removed barriers to entry in the region. “We’re experiencing a demographic dividend, with 75 percent of India’s population under 45 years of age,” Narasimhan said, noting these tech-savvy consumers rely on mobile phones to authenticate online and mobile app transactions. And unlike China’s manufacturing, export-led economy, India is a consumption economy, he added, with a massive appetite.

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Biometrics replacing cards, smart devices at checkout

Thursday, May 19, 2022

The card brands are preparing for the next iteration of contactless payments—when a smile or wave of the hand is all it takes to complete payment. Mastercard revealed a new Biometric Checkout program, for example, a "first-of-its-kind technology framework" to pave the way for biometric payments at stores large and small.

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Studies expose gaps in digital commerce

Wednesday, May 18, 2022

Separate studies by Axerve and Arkose Labs highlight the need for security and payments orchestration as retailers rush to support multiple checkout options at all points of interaction. New technologies and trends in digital payments in 2022, published May 17, 2022, by Axerve, assesses digital commerce's impact on merchants.

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Tracking consumer payment preferences

Monday, May 16, 2022

Consumers prefer to pay with credit and debit cards, but they are not giving up on cash. In fact, a new report from the Federal Reserve Bank of San Francisco reveals cash usage increased slightly in 2021.

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Wave goodbye to plastic with implanted wallet

Friday, May 13, 2022

As businesses and consumers strive to reduce carbon footprints, GoCardless blogger Linda Yang suggested eliminating plastic credit cards would be a good start. In her April 26, 2022, post titled, "Getting Rid of Plastic to Save the Planet – One Credit Card at a Time," Yang cited GoCardless research that showed 17.2 billion plastic and debit cards in circulation in 2021, which generated 293,525 tons of carbon emissions (tCO2e). In addition, the PVC composition of these cards is difficult to recycle, she stated.

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ETA, MSB leaders publish AML guidance

Wednesday, May 11, 2022

A new report, titled Best Practices for U.S. Money Services Businesses: Anti-Money Laundering and Counter-Financing of Terrorism Compliance Program, was published May 11, 2022, by the Electronic Transactions Association and leading money service business trade associations.

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Durbin targeting interchange again

Thursday, May 5, 2022

Visa and Mastercard ignored requests from lawmakers to hold off on raising interchange rates last month. But at what cost? Senator Richard Durbin, D-Ill., author of the 2010 legislation that ushered in debit card interchange caps, called chiefs of the two card giants before the Senate Judiciary Committee, which he chairs, on May 4, 2022, for a public tongue lashing. And he offered up a list of proposals he said would place "limits on Visa and Mastercard price fixing."

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Chase pulls out all the stops for Small Business Week

Tuesday, May 3, 2022

Chase for Business launched a suite of products and services on May 3, 2022, designed to help small and midsize businesses (SMBs) leverage technology to win more sales, deepen customer relationships and stay ahead of competitors across the United States.

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Green Sheet interviews Obsidian Banking's Damon Kirk 

Monday, May 2, 2022

Obsidian Banking, a fintech startup, designed a suite of banking and investment services created to decrease the racial wealth gap by helping Black millennials gain financial access. The Green Sheet spoke with Obsidian’s founder and CEO, Damon Kirk, who believes the path to financial literacy is paved with access and resources. Following are interview highlights.

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