payments
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Blog
Samsung Will Soon Let You Tap to Send Payments to Other Digital Wallets
If you have a Samsung Galaxy phone, you’ll soon be able to send money to friends and family instantly simply by tapping your devices together. A new peer-to-peer payment feature transfers funds from debit cards in your Samsung Wallet to those stored in a recipient’s digital wallet or their physical tap-to-pay card. The feature will be available to Samsung Wallet…
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Cyber attacks are costing UK firms billions every year – ransom payments, staff overtime, and lost business are crippling victims
Cyber attacks are costing UK businesses £64 billion a year in ransom payments, staff overtime, lost business, and other associated costs. Research from cybersecurity firm ESET shows that 53% of UK businesses have fallen victim to at least one attack over the last year, with 43% saying that it’s had a long-term impact on business growth. The top three most…
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Blog
Using Contactless Payments on Your Phone? Protect Yourself.
In 2024, consumers reported losing $347 million to scams on digital wallet payment apps, according to figures from the Federal Trade Commission. The same analysis found that for each complaint reported, the average loss was an astonishing $4,627. What CR found: While major wallets use strong technical security measures, fraud monitoring and liability protections vary across providers. Cash App, PayPal, and Venmo…
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M&S calls in NCSC after ‘cyber incident’ disrupts customer payments, online orders
Retail giant Marks & Spencer (M&S) has revealed it has been dealing with a “cyber incident” in recent days and apologized to customers amid disruption complaints. The retailer said contactless payments and online orders have been impacted by the incident, but insisted no customer data has been compromised. While the exact cause of the incident is yet to be determined,…
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Chase will soon block Zelle payments to sellers on social media
JPMorgan Chase Bank (Chase) will soon start blocking Zelle payments to social media contacts to combat a significant rise in online scams utilizing the service for fraud. Zelle is a highly popular digital payments network that allows users to transfer money quickly and securely between bank accounts. It is also integrated into the mobile apps of many banks in the…
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Ransomware Payments Decreased by 35% in 2024
Ransomware payments took an unexpected plunge in 2024, dropping 35% to approximately $813.55 million — despite payouts surpassing $1 billion for the first time in 2023. The decline was largely driven by a series of successful law enforcement takedowns and improved cyber hygiene, which enabled more victims to refuse payment, according to blockchain platform Chainalysis. The drop came as a…
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UK Considers Banning Ransomware Payments
The U.K. government is considering banning ransomware payments to make critical industries “unattractive targets for criminals.” It would apply to all public sector bodies and critical national infrastructure, which includes NHS trusts, schools, local councils, and data centres. Currently, all government departments nationwide are banned from paying cyber criminals to decrypt their data or prevent it from being leaked. This…
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UK government officials consider banning ransomware payments
The UK government is considering banning public organizations from paying ransomware demands as it seeks to strike a “significant blow” to cyber criminal operating models. The consultation follows a series of serious ransomware incidents at NHS bodies, the British Library, Royal Mail and more, that have caused severe real world disruption and cost millions in recovery costs. Consultation documents from…
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Blog
How to Accept Crypto Payments: A Step-by-Step Guide
Cryptocurrencies are no longer confined to the realm of tech enthusiasts — they’ve become a practical payment option for businesses of all sizes. In the U.S. alone, more than 2,000 businesses now accept cryptocurrency payments, with major brands like Starbucks, Home Depot, and Tesla leading the charge. For tech-savvy business owners and entrepreneurs, accepting crypto payments can open doors to…
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The customer knows best: How to ensure you’re delivering an effective digital payments experience
It’s been more than five years since regulations around open banking, which reflected the changing nature of how consumers engage with banking and payments in this modern age, came into force. Cash is no longer the dominant form of payment; just 6% of the UK population uses cash for most things or everything, according to statistics from the UK government,…
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