We recently touched base with Ryan Frere, executive vice president and general manager at Flywire on cross-border B2B payments. Interview highlights follow.

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If something sounds too good to be true, it probably is. That's the underlying message the Federal Trade Commission provided when it took action against the mobile cash advance company FloatMe. This week the FTC began doling out $2.6 million in refunds to consumers deceived by false promises of "free money" from FloatMe.

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The U.S. Faster Payments Council (FPC) recently took two significant steps to support the advancement of faster payments in the United States, unveiling new resources that offer guidance to financial institutions on implementing faster payment standards and operational practices. These developments underline the council's ongoing commitment to creating a more efficient, secure and inclusive payments landscape, the FPC noted.

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U.S. merchants pay more to accept payments by card than merchants in any other industrialized country. According to a report just released by CMSPI, a payments consultancy to merchants, U.S. businesses shelled out $224 billion to accept cards in 2023. Only Japan and Mexico came close to matching that figure.

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Today we had to mention Jared Isaacman's breathtaking space walk. We've also spotlighted a new academy from ATMIA designed for ATM operators, thoughts on the potential impact of the iPhone 16 on digital wallets, and a series of webinars on the future of instant payments hostel by SWIVEL and FedNow.

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Slim CD, a payment gateway headquartered in Coral Springs, Fla., has been hit with a data breach that compromised card and personal information on nearly 1.7 million consumers. The breach was discovered in June, but an investigation revealed that cyber crooks gained access to Sim CD's computers in August 2023, according to a public notice.

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A new study from Juniper Research forecasts a dramatic rise in global account-to-account (A2A) payment transactions over the next five years. According to the report, Global A2A Payments Market: 2024-2029, A2A transactions are expected to grow from 60 billion in 2024 to 186 billion by 2029, representing a remarkable 209% increase.

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PayPal wants to take a bigger bite out of the market for in-person payments. While PayPal has long held a dominant position for online payments, and peer-to-peer payments via Venmo, it's not made much of a mark for in-store purchases.

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A trio of academics published results a study of digital wallets that concludes reliance on outdated authentication methods and prioritizing convenience over security leaves users vulnerable to fraud.

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Small and midsize business (SMB) lending fraud rose significantly over the past year, with most lenders expecting the growth to continue. This is according to the LexisNexis Risk Solutions 2024 Small Business Lending Fraud Study, which highlights evolving challenges in SMB lending fraud and the strategies lenders are employing to combat it.

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A new report from the Consumer Financial Protection Bureau is taking some large merchant chains to tasks for the fees charged consumers who want cash back when using their debit and prepaid cards at the point of sale. Merchants for their part are pointing the finger of blame at interchange.

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