Authorized Push Payment (APP) fraud has been notoriously difficult to fight against because it involves consumers voluntarily transferring assets to fraudulent accounts. In most cases, bad actors target their victims through social engineering or impersonating a real person or company. “There is obviously a technology piece that plays a role here, but there’s also a […]
Central bank digital currencies (CBDCs) have a lot of potential to uproot the cross-border payments market. The latest move by the National Bank of Ras Al Khaimah (RAKBANK) highlights this. RAKBANK has successfully exchanged a remittance using China’s digital Yuan (eCNY) in exchange for the Digital Dirham, the UAE’s CBDC. The cross-border payment was completed […]
Check out the companies making headlines in extended trading: Adobe — Shares plunged more than 10% after the software company issued soft guidance. Adobe issued a fiscal fourth-quarter revenue forecast in a range between $5.50 billion and $5.55 billion. Analysts polled by LSEG had estimated $5.61 billion in revenue. Guidance for adjusted earnings per share came in […]
Shares of Trump Media continued to sink on Thursday, closing at a fresh low, following Tuesday’s presidential debate between its majority shareholder, former President Donald Trump and Democratic Vice President Kamala Harris. The stock fell 3.6% over the day and closed at $16.07 per share — its lowest close since the company’s public trading debut on the Nasdaq in March. Shares of the Truth Social owner, […]
UAE digital asset users will be able to take advantage of international cross-border bank, Standard Chartered‘s digital asset custody service as it lands in the country. The service has been given the green light to operate in the Dubai International Financial Centre (DIFC) by the regulator, Dubai Financial Services Authority (DFSA). The announcement follows the memorandum of understanding (MoU) which was signed […]
Airline payments powerhouse UATP says it will offer buy now, pay later services from Klarna AB. Meanwhile, CellPoint Digital has signed Arajet, a Dominican Republic startup airline as a payments-processing client. UATP, a Washington, D.C.-based global payments network, says its new partnership with Klarna will enable airlines to offer Klarna’s BNPL payment option to customers. […]
Visa (V.N), opens new tab plans to increase the number of businesses accepting digital payments in Pakistan tenfold over the next three years, the payments giant’s general manager for Pakistan, North Africa and Levant told Reuters. The comments from Leila Serhan came as Visa announced a strategic partnership with 1Link, Pakistan’s largest payment service provider, […]
New Starbucks CEO Brian Niccol will focus on improving the chain’s U.S. business in his early days on the job before he moves to fix its issues abroad, according to an open letter published on Tuesday. ″… In some places — especially in the U.S. — we aren’t always delivering,” Niccol wrote in the open letter addressed to customers, […]
The Federal Reserve gets its last look this week at inflation readings before it will determine the size of a widely expected interest rate cut soon. On Wednesday, the Labor Department’s Bureau of Labor Statistics will release its consumer price index report for August. A day later, the BLS issues its producer price index report, […]
The report follows initial concerns raised by the FDIC and two other federal banking regulatory bodies in late July, which introduced specific guidance requiring all banks under its jurisdiction to monitor and regularly reconcile any accounts they hold or manage – no matter the source or type of relationship involved. The FDIC, Office of the Comptroller of the […]
Brazil’s central bank has been working on a digital real project for several years, beginning a first pilot phase in 2023 testing privacy and programmability functionalities through the implementation of a specific use case. Now, it has whittled down proposals for a second phase from 42 to 13, using the infrastructure already created to test […]
Norfolk Southern’s board is examining allegations that CEO Alan Shaw engaged in an inappropriate workplace relationship, according to three people familiar with the matter. The company confirmed late Sunday evening it was probing Shaw over “possible conduct” that violated the company’s code of ethics and that it had hired outside legal counsel to investigate. The probe is in its early […]
