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NewsBriefs

This article contains summaries of news stories recently posted under and accept over 25 payment options quickly. ARIC Risk
Breaking Industry News on our homepage. For links to these and other Hub, powered by Featurespace's adaptive AI, identifies
full news stories, please visit www.greensheet.com/breakingnews.php. fraud in real time across global transactions. Visa's goal is
to support clients in navigating digital commerce, improve
checkout experiences and safeguard customer trust while
expanding globally.
US Bank's 'essentials' for SMBs
responsive to pre-tariff survey
U.S. Bank introduced Business Essentials, an all-in-
one checking and payment solution tailored to small
True cost of fraud escalates, LexisNexis study shows businesses. The product includes unlimited digital
transactions, free mobile card readers, same-day access
Fraud continues to burden ecommerce and retail to funds and no monthly maintenance fees. The launch
businesses, with U.S. merchants now losing $4.61 for responds to a bank survey showing 80 percent of SMBs
every $1 of fraud, according to the LexisNexis True Cost of prefer bundled financial services. Expressing optimism
Fraud Study. Mobile channels, including digital wallets before tariff concerns surfaced, 73 percent of businesses
and QR codes, account for a significant portion of fraud indicated they had grown in the past year. Owners cited
costs. Despite rising losses and customer churn, many competition, labor shortages and economic pressures as
companies are not increasing their fraud-fighting budgets. key stressors.
Forty-one percent still rely on manual processes, and
identity verification remains a top challenge. Flexible payroll options and AI tools were noted as vital
needs, though many remain unsure how automation will
The report warned that confidence in current fraud impact jobs. U.S. Bank sees Business Essentials as a key
detection may be misplaced, as 70 percent of businesses opportunity to help clients consolidate tools, improve
claim their systems are effective. Yet 79 percent of U.S. insights and reduce operational burdens, strengthening
ecommerce executives expect improvements despite gaps long-term SMB growth.
in verification tools. LexisNexis calls for AI-powered,
multi-layered defenses to counter evolving threats. Shazam sheds merchant services biz
Big Tech payments rule is dead Shazam sold its merchant services division to NCMIC
Finance Corp., stating this will allow it to refocus on its
Congress overturned the CFPB's Big Tech payments rule, core EFT network operations. The 25-year-old portfolio
which granted the bureau supervisory oversight of large and processing staff will move to NCMIC's Professional
payment apps like Apple Pay and PayPal. The House Solutions Financial Services division. Both Iowa-based
passed the resolution to overturn the rule 219-211 along firms see the move as mutually beneficial, citing enhanced
party lines, following Senate approval. This marks the third fraud protection and expanded payment networks for
CFPB rule repealed under the Trump Administration. The clients. Shazam, founded in 1976, was a pioneer in shared
rule, enacted in January 2025, aimed to protect consumers ATM networks and POS systems.
from fraud and unfair practices by giving the bureau
supervision—not regulation—over firms processing over As debit card usage rises, Shazam said, the shift supports
50 million payments annually. its community bank stakeholders while enabling sharper
focus on innovation in EFT services. NCMIC, best known
Critics, including Senator Pete Ricketts, labeled it for chiropractic insurance, aims to broaden its financial
overreach. Tech groups also challenged it in court. services with this acquisition. Executives from both firms
Supporters, including Consumer Reports, argued that framed the transition as a strategic step to strengthen core
consumer protection is urgently needed in digital payment competencies.
environments.
Visa's new services designed to power client growth
Also find us on Facebook,
Visa launched three new services—reimagined Authorize. LinkedIn & Twitter for the
net, Unified Checkout and ARIC Risk Hub—to simplify
payments, enhance fraud protection and drive business most up-to-date stories,
growth. Announced at ETA Transact 2025, these offerings can’t miss events and newest
are part of Visa's broader suite of over 200 value-added industry announcements.
services. The new Authorize.net provides AI-driven
insights and supports multiple payment types and will
launch in the United States this year. Also launching this
year is Unified Checkout allows merchants to integrate

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