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Visa Blocks 85% More Fraud This Cyber Monday with AI

Visa Blocks 85% More Fraud This Cyber Monday with AI

Hey Payments Fanatic! Visa's fraud prevention technology is proving its worth this holiday season, with the payment giant blocking nearly 85% more suspected fraudulent transactions globally during Cyber Monday compared to last year. The surge in fraud attempts was significant, with suspicious activity increasing by 200% worldwide over

Ripple Labs Gets NYDFS Approval for RLUSD Stablecoin

Ripple Labs Gets NYDFS Approval for RLUSD Stablecoin

Hey Payments Fanatic! Ripple Labs has secured approval from the New York Department of Financial Services (NYDFS) for its RLUSD stablecoin, as announced by CEO Brad Garlinghouse. The stablecoin, pegged 1:1 to the U.S. dollar, will be backed by USD deposits, short-term U.S. Treasury bonds, and other

"AI Can Already Do All the Jobs Humans Do," Says Sebastian Siemiatkowski

"AI Can Already Do All the Jobs Humans Do," Says Sebastian Siemiatkowski

Hey Payments Fanatic! Klarna's workforce transformation is making headlines as CEO Sebastian Siemiatkowski revealed their headcount has decreased from 4,500 to 3,500 employees over the past year. While the company hasn't completely halted hiring, they're now only backfilling essential roles, primarily in

Affirm and Sixth Street Strike $4B Loan Partnership

Affirm and Sixth Street Strike $4B Loan Partnership

Hey Payments Fanatic! Buy Now, Pay Later (BNPL) company Affirm has partnered with private credit giant Sixth Street on a $4 billion, three-year loan deal—the largest in Affirm's history. Sixth Street will provide upfront capital for Affirm to issue short-term installment loans, with repayments reinvested to extend

Visa Direct Enables Instant Bank Transfers in Under One Minute

Visa Direct Enables Instant Bank Transfers in Under One Minute

Hey Payments Fanatic! Visa has just announced a major upgrade to Visa Direct - starting April 2025, funds transferred to U.S. bank accounts will be available within 1 minute or less. This enhancement reaches 99% of bank accounts in the US and over 11 billion endpoints globally, spanning cards,

Klarna Joins Apple Pay for Online and In-App Checkouts in Canada

Klarna Joins Apple Pay for Online and In-App Checkouts in Canada

Hey Payments Fanatic! Klarna has expanded its reach to Canada, becoming the first BNPL provider available through Apple Pay in the country. The service allows eligible Canadian users to access Klarna's payment options when checking out with Apple Pay online and in apps, offering four interest-free installments or

Vipps MobilePay Launches World’s First Apple Pay Alternative for iPhone

Vipps MobilePay Launches World’s First Apple Pay Alternative for iPhone

Hey Payments Fanatic! A significant shift is occurring in the mobile payments landscape as Norwegian payment service Vipps becomes the world's first company to launch a competing tap-to-pay solution for iPhone. This development follows the European Commission's July 2024 acceptance of Apple's legally binding