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Big Banks Declare War on Venmo

February 22, 2017
BLOOMBERG -- For years, banks have watched as their youngest customers split restaurant checks, shared utility bills, and pitched in for parties using third-party payment apps such as Venmo. Now, they're trying to take back the person-to-person...
Data Breach Today -- Al Pascual, head of security, risk and fraud at Javelin, says a slight increase year-over-year in CNP fraud was expected in the U.S. as the rollout of EMV chip cards and payments shored up card security at the physical point of...
CBS NEWS -- When thieves pose as a customer to gain access to their accounts, it’s called an “account takeover.” In 2016, those instances increased by nearly 40 percent. “Until we institute stronger authentication, stronger controls on accounts...
CNBC -- "Our password hygiene is very poor, and criminals know it," according to Al Pascual. The one bright spot amid all this rising fraud is that tech-savvy consumers tend to spot it quickly, minimizing the financial damage. The...
BLOOMBERG TECHNOLOGY -- In partnership with Apple, Square is attempting to educate users across the nation about the value of mobile payments in the U.S., where they represent less than 1 percent of all transactions this year, but are expected...
AMERICAN BANKER -- The upcoming launch of Zelle gives the previous generation of P-to-P payments offered by the big banks to try again. Last year, only 14 of the top 30 banks were offering person-to-person payments in their mobile banking apps...
PAYMENTSOURCE -- "Business-related travel and commercial travel are multi-billion dollar industries WEX has worked in, often leveraging closed and open network payments, along with other payment forms," Michael Moeser said. "With a blockchain...
PAYMENTSOURCE -- I suspect that you will see multiple attempts to offer comprehensive digital identities, many of which will be closely tied to consumers' mobile devices," said Al Pascual. "The next logical step is to create persistent,...

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