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This Week in Payments – 8/8/2014

Simplicity—and Pizza—Whet an Appetite for Mobile Payments

by Bailey Reutzel

Many mobile payments vendors pile on features to set themselves apart, but Push for Pizza has a different philosophy. It lets consumers purchase a pizza, and that’s it.

Intellinx introduces check fraud solution

via the Paypers

Intellinx, an enterprise fraud management provider, has made available its check fraud solution which provides fraud detection features.

The system tracks multiple indicators of suspicious activity across customer, account and check data and combines this information with internal and external user activity collected using Intellinx’s technology.

The Surprising Banking Giant Behind New Savings Site Sumday

by Jim Bruene

Last week, the Internet discovered an interesting new savings site called Sumday. It has responsive design, a cute intro video, and social media integration. But it also has something that few trendy fintech plays have, a $230 billion dollar parent, BNY Mellon.

Campaign Costs Drive Some Candidates to Pick Bitcoin Over Cards

by John Adams

In politics, every penny counts to secure a candidate’s position in office. Bitcoin’s low cost of acceptance, accompanied by increasing clarity from regulators over its role in campaigns, is making it a more appealing choice for accepting donations.

“Politicians, like everyone else dependent on accepting payments or donations, are sensitive to costs,” said Matt Philips, who works with several Republican candidates for New Hampshire state office and Congress. “Bitcoin is much lower cost than credit card or even e-checks.”

Department of Homeland Security warns retailers of new POS malware

by James Bickers

The U.S. Computer Emergency Readiness Team, a division of the Department of Homeland Security, has issued a warning to retailers about a new POS malware hack that has been detected. Dubbed “Backoff,” the family of malware exploits has been found in three separate investigations, going back as far as October 2013.

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