As the coronavirus pandemic has driven more people to work from home and shop online, the demands on digital, faster payment systems have been heightened — as have the opportunities for fraudsters to exploit them.
The conversation around advancing the distribution and use of digital currency gets a boost every time the banking system stubs its toe. And there have been many recent examples of financial system problems to point to.
As the Federal Reserve's FedNow instant payments and settlement system enters into testing and use-case development phases, an emphasis on speed to market, ubiquity and compatibility with other systems remains in the forefront.
Financial Software and Systems is upgrading the card management technology for Everlink Payment Services in Canada, converting the legacy card issuing and transaction processing systems to a single digital platform.
Even before the COVID-19 pandemic forced retailers and consumers alike to consider the benefits of shopping via a mobile app, providers of shopping and loyalty apps were seeking partnerships with security vendors to deploy fraud prevention technology.