Industry News

  • Covid-19, cash, and the future of payments
    by Nicole Pinto on April 9, 2020 at 7:09 pm

    “Key takeaways: The Covid-19 pandemic has fanned public concerns that the coronavirus could be transmitted by cash. Scientific evidence suggests that the probability of transmission via banknotes is low when compared with other frequently-touched objects, such as credit card terminals or PIN pads. To bolster trust in cash, central banks are actively communicating, urging continued

  • Fintech Company Survived Ransomware Attack Without Paying Ransom
    by Nicole Pinto on April 9, 2020 at 6:42 pm

    “As the malware quickly spread, locking up server after server, Finastra’s information security team evaluated its dwindling options before settling on the nuclear one: The company pulled all potentially infected servers offline. First, hundreds, then thousands, came down. The attack ground to a halt—as did critical parts of Finastra’s business. In an instant, services for

  • Another Challenge for Small Businesses: Higher Card Fees Could Be on the Way
    by Gus on April 9, 2020 at 3:07 pm

    “Many small businesses could have another thing to worry about when they come out of a coronavirus coma: higher credit-card fees. Visa Inc. and Mastercard Inc. had planned to raise swipe fees on many merchants this year, and the changes in some cases would be hardest on small businesses, according to people familiar with the situation. It

  • Travelex Paid Hackers Multimillion-Dollar Ransom Before Hitting New Obstacles
    by Gus on April 9, 2020 at 3:04 pm

    “Travelex, known for its ubiquitous foreign-exchange kiosks in airports and tourist sites around the world, was shut down by a computer virus that infiltrated its networks early this year. It responded by paying the hackers the equivalent of $2.3 million, according to a person familiar with the transaction. Travelex’s payment of the ransom, and the

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