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Breaking News articles for June 2022

Green Sheet interviews Anurag Lal, NetSfere

Tuesday, June 28, 2022

A senior banking executive was promptly terminated in June 2022 for using a consumer-grade messaging app to communicate with a client. While Credit Suisse executive Anthony Kontoleon did not share any sensitive data in his message, the financial institution maintained that using an unauthorized messaging application was grounds for immediate termination.

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Visa updates chargeback rules to help merchants

Monday, June 27, 2022

Visa is updating its chargeback rules to help merchants combat "friendly" fraud, sometimes referred to as "first-party" fraud. Beginning in April 2023, if a merchant believes a disputed transaction is valid, and they can provide additional information evidencing this, the dispute will be rejected. Additional information might include the customer using the same card for previous purchases from the merchant, login credentials and proof of use of the product.

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GS interviews Veem's Marwan Forzley on UK’s BNPL regs

Friday, June 24, 2022

Payments and financial analysts are discussing the UK government’s June 20, 2022, buy now, pay later (BNPL) regulation designed to protect consumers by ensuring BNPL best practices. Marwan Forzley, CEO of international payments processor Veem, shared insights on the new legislation and its potential impact on the global financial ecosystem with The Green Sheet.

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Apple, PayPal ramp up BNPL

Wednesday, June 22, 2022

To the growing number of companies offering buy now, pay later (BNPL) payment options, you can add Apple. Apple Pay Later is among the newest iPhone features Apple introduced June 6, 2022. It allows consumers to spread out the cost of purchases with four equal payments over six weeks, with zero interest and no fees. Apple Pay Later is available wherever Apple Pay is accepted, and uses the Mastercard network. It also includes an order tracking feature.

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Studies find uneven digital commerce adoption, outcomes

Tuesday, June 21, 2022

Digital commerce security and financial health are under fire in the United States and abroad. Circles of Trust: How the UK Public Perceives Digital Risk, published June 16, 2022, by Utimaco, found 70 percent of consumers surveyed are deeply concerned about safety when transacting online.

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U.S. House approves Payment Choice Act

Friday, June 17, 2022

Cash supporters are celebrating June 16, 2022, the day the U.S. House of Representatives passed HR-4395, the Payment Choice Act of 2022 (PCA). Designed to include cash among other payment options, the bill classifies cash as legal tender throughout the United States, noted Bruce Renard, executive director of the National ATM Council.

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Businesses want P2P, ETA-TSG survey finds

Thursday, June 16, 2022

Peer-to-peer payments, once the exclusive province of consumers, have spilled over into small businesses, gig workers and various other micro merchants, according to survey data released June 13, 2022, by the Electronic Transactions Association and The Strawhecker Group. In fact, P2P payment methods accounted for 59 percent of total transaction volume among merchants accepting P2P payments, researchers found.

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Payroll, payment rails fair game for BNPL players

Friday, June 10, 2022

Consumer demand for buy now, pay later options is on the rise at physical and virtual points of sale, and BNPL providers are finding new ways to leverage existing infrastructures. Among new BNPL entrants are Apple Pay Later and a payroll solution powered by partners Atomic and Bond that enables consumers to pay BNPL installments directly from their paychecks.

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Merchants eager to accept crypto

Thursday, June 9, 2022

Merchants are keen on accepting cryptocurrencies, but they recognize there will be challenges. That's the upshot of a new report from the international consultancy Deloitte, which surveyed 2,000 senior executives at U.S. retail organizations.

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Crypto scams top $1 billion

Wednesday, June 8, 2022

Fraudsters have found a new way to scam consumers: cryptocurrencies. A just-released report from the Federal Trade Commission revealed that fraudsters have stolen over $1 billion in cryptocurrencies from 46,000 consumers since the start of 2021. That's nearly 60 times more money than was reported lost to cryptocurrency scams in 2018.

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Economic winds batter customer satisfaction, survey finds

Tuesday, June 7, 2022

Scarcely three months after reporting high satisfaction levels, J.D. Power researchers are finding the opposite sentiment among bank and credit union customers, according to multiple surveys released on June 2, 2022. The reports, J.D. Power 2022 U.S. Banking Mobile App Satisfaction Study, 2022 U.S. Online Banking Satisfaction Study, 2022 U.S. Credit Card Mobile App Satisfaction Study and 2022 U.S. Online Credit Card Satisfaction Study, attribute recent dissatisfaction to a “perfect storm of rising customer expectations and faltering economy.”

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Finzly to host finzpire 1.0, celebrating 10th anniversary

Friday, June 3, 2022

A decade after Booshan Rengachari founded Finzly, the company will host a user conference at the Hilton Charlotte Airport on June 8 to 10, 2022. The event, finzpire 1.0, will engage a diverse cohort of international partners, users and colleagues, stated Suja Ramakrishnan, director of marketing at Finzly.

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'Finclusion' gains global momentum

Wednesday, June 1, 2022

Growing demand for digital commerce methods in all regions of the world prompted a series of initiatives and legislative actions aimed at promoting financial inclusion. These measures will help all citizens obtain access, education and technology to transact on mobile and connected devices, payments industry leaders on both sides of the Atlantic noted.

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