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3 weeks ago | 
paymentsjournal.com | Wesley Grant
One of the main apprehensions with faster payments is the potential for faster fraud, but artificial intelligence could help mitigate these concerns. A study from the Bank for International Settlements (BIS) and the Bank of England gauged AI’s ability to detect the sophisticated fraud activity perpetrated by cybercriminals. The experiments were conducted in a simulation based on data gleaned from millions of bank accounts and transactions, designed to be indicative of real-time retail payments.
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3 weeks ago | 
paymentsjournal.com | Wesley Grant
Fingerprint and facial scanning are commonplace due to their use in mobile devices, but palm scanning is finding a niche in retail. One of the main reasons palm biometrics have been adopted in new merchant implementations across Europe, Asia, and the Middle East is that they don’t require users to touch the scanner. Additionally, palm scans are highly accurate and secure due to the uniqueness of palm ridges and veins.
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3 weeks ago | 
paymentsjournal.com | Wesley Grant
Consumers expect flexibility at checkout, and Mastercard has inked deals with PayPal and Deutsche Bank to deliver more payment alternatives. The partnership with PayPal centers around Mastercard One Credential, a platform that allows consumers to pay in multiple ways using a single credential—both online and in-store. According to Mastercard, this functionality resonates with Gen Z users, who expect more personalized payment experiences.
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3 weeks ago | 
paymentsjournal.com | Wesley Grant
As part of its continued transformation into a full-fledged financial institution, Klarna is launching a Visa debit card for U.S. users. The Klarna Card will be piloted with a select group of consumers ahead of a nationwide rollout and a planned European Union launch later this year. The debit card is linked to an FDIC-insured account that functions effectively as a bank account.
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3 weeks ago | 
paymentsjournal.com | Wesley Grant
Most organizations factor in the cost of doing business when pricing their products or services. However, the costs of credit card acceptance have been a sticking point with many merchants for years, prompting some to tack on a surcharge when their customers use a card.
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3 weeks ago | 
paymentsjournal.com | Wesley Grant
Circle recently launched a network designed to harness the potential of stablecoins in cross-border payments, and the network has now added another integration. The Circle Payment Network (CPN) was first announced in April, with the company’s ambitious goal of creating a global rail to rival those operated by Visa and Mastercard. As the issuer of the world’s second-leading stablecoin, USDC, it was clear that stablecoins would play a key role in CPN.
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4 weeks ago | 
paymentsjournal.com | Wesley Grant
AI agents have featured in some of the most intriguing recent product launches, but cybersecurity experts have mixed feelings about the technology. Data from SailPoint found that 96% of tech professionals view AI agents as a growing security threat. Yet, nearly all respondents indicated they plan to expand their use of agentic AI in the coming year. The top concern voiced by respondents was the agents’ access to protected data, followed by the risk of unintended actions.
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4 weeks ago | 
paymentsjournal.com | Wesley Grant
The latest available data from the Federal Reserve found that there were roughly $1.6 quadrillion in payments in the United States alone. However, because this data includes financial economy transactions like company acquisitions and stock sales, as well as consumer payments, quantifying the total addressable market for B2B payments—much less share shift that is happening between different payment instruments—can be difficult.
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1 month ago | 
paymentsjournal.com | Wesley Grant
As lenders increasingly turn their attention to the small and medium-sized business segment, Plaid is launching a solution designed to provide better access to data. The company’s Transactions for Business platform builds on Plaid’s existing infrastructure, originally developed to parse consumer transaction data.
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1 month ago | 
paymentsjournal.com | Wesley Grant
Amid a flurry of initiatives, PayPal has received an in-principle nod to become a cross-border payments aggregator in one of the world’s largest markets. In recent years, the Reserve Bank of India (RBI) has brought cross-border payments under a tighter regulatory framework, requiring all companies to obtain a payment aggregator cross-border (PA-CB) license.
