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Industry

Banks Plan to Start Reimbursing Some Victims of Zelle Scams

“The seven banks that own the payments network Zelle are preparing a major rule change early next year that will require the network’s member banks to compensate customers who fall victim to certain kinds of scams, according to two people familiar with the plans. The shift would reverse the network’s current policy, which typically sticks […]
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Industry

Credit Card Delinquencies, Charge-Offs Rise on Path to Normalization

“Credit card delinquencies and charge-offs rose for all six major U.S. card issuers in October. Bank executives said such a trend is expected as credit normalizes after stimulus aids wane and people come out of pandemic lockdowns. Delinquency and charge-off rates were still well below pre-pandemic levels as consumers continue to show resilience despite inflation, […]
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Industry

Every Organization Should Be Aware of Invoice Scams

“Finance teams the world over are grappling with the problem of invoice and payment fraud. Criminals continue to extract hard-earned cash out of businesses, who all too often are unprepared for this rampant type of fraud. It is a subject we research into heavily here at Medius. According to our latest Financial Professional Census, which […]
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Industry

Tencent Wants You to Pay With Your Palm. What Could Go Wrong?

“Would you want a bottle of soda for just one cent?  Before you say yes, there’s a catch: You have to pay by scanning your palm and sharing your information with a Chinese tech giant.  This was the proposition Tencent made to a handful of Chinese consumers recently, as seen in a video posted on […]
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Industry

Gen Z and Millennials Adoption of Face Biometrics Reaches 75 Percent — Report

“Roughly four in 10 Americans use face biometrics with at least one app daily. The adoption rate for 18- to 34-year-olds is 75 percent. The figures come from a new report from the facial recognition company CyberLink (conducted online with the third-party research firm YouGov). According to the research, which in September surveyed 2,455 U.S. adults aged 18 […]

On The Wires

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Industry

Introducing Bectran’s Multilingual Payment Portal: Seamlessly Conduct Business in Your Customers’ Preferred Languages

“Bectran, Inc., an industry leader providing cutting-edge credit, collections and accounts receivable automation software, has launched a multilingual payment portal to empower you to conveniently service your customers globally by removing friction caused by language barriers. This functionality introduces the capability to toggle between languages and displays information in the user’s preferred language without having […]
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Industry

Analysis: U.S. Banks to Pounce on Fintech Deals as Valuations Plunge

“Financial technology companies, long seen as a threat by the likes of JPMorgan Chase & Co, are increasingly becoming acquisition targets for traditional U.S. banks as rising interest rates and falling valuations crimp their expansion. The valuations of listed financial technology firms have plunged 70% in 2022, analysts at Jefferies Group said in a note […]