Money service businesses (MSBs) face the high hurdle of getting licensed in each U.S. state where they operate. That licensing can be expensive and time-consuming. According to one estimate, it can cost at least $1 million and take about two years to get a state license. Fintechs, crypto companies and…

Crypto businesses can reassure wary customers by showing them security is a top priority through identity verification, according to recent research from Trulioo. The “Crypto customers call for reassurance in uncertain times” industry report found consumers now regard identity verification checks as vital and reassuring steps, rather than an inconvenience…

Digitized and automated business-to-business (B2B) payments are forecast to reach $1.61 trillion in global market value by 2028. From traditional paper checks to automated payment systems, B2B payment options are plentiful. …

The Lightning Network holds the potential to significantly increase transaction speed and volume for the bitcoin payments system. The network’s capacity passed 5,000 bitcoins in October after exceeding 4,000 in June. Network adoption is growing, though it remains relatively small compared with the payment giants. “In 2021, Visa handled more…

Economic uncertainty, geopolitical turbulence, and emerging fraud and identity theft threats have left people more cautious when engaging with online payment providers. Those companies recognize consumers value security through identity verification and are taking steps to meet those expectations, according to comprehensive, independent research Trulioo recently commissioned. …

Leveraging eCommerce for 24/7 sales anywhere in the world has positioned online marketplaces for accelerated growth. But with growth comes heightened risk of card-not-present (CNP) fraud. Criminals are gaining access to sensitive online data through phishing, skimming and hacking. According to a recent study, every $1 of fraud costs eCommerce…

The FedNow℠ Service’s 2023 launch holds the potential to significantly expand real-time payments in the U.S. The Federal Reserve created the FedNow payments infrastructure to enable people and businesses to send real-time payments through their financial institutions. …

One bad actor can sow mistrust, commit fraud and damage an online marketplace’s reputation. But how do marketplaces strike the balance between limiting risky accounts and avoiding heavy-handed security controls? People expect a welcoming online destination that delivers trust and safety, but they don’t want a cumbersome, time-consuming onboarding experience. …

The accelerating pace and scope of global transactions are fueling an even stronger push for quick and secure cross-border payments. McKinsey & Company in 2021 estimated global payments revenue had hit an annual growth rate of 6% to 7% and would reach about $2.5 trillion by 2025. …