“Fraud mitigation isn’t just an on or off switch; rather, it’s a balance that requires merchants to understand how security, authentication, authorization, fraud detection and the impact on the shopping experience work in harmony with one another,” said Cindy Turner, chief product officer at Worldpay. “For example, false positive declines of good faith purchases and additional steps in the checkout process present serious challenges to fraud mitigation strategies. This is why we partner with card networks like Visa to enhance authorizations – at the end of the day, it helps merchants achieve the highest standards of security while improving the overall customer experience.”

Worldpay research shows more than half (55%) of U.S. consumers abandon a transaction if it takes multiple tries to complete, demonstrating the importance of ensuring that a valid payment goes through on the first try. 3DS Flex boosts authorization rates and reduces extra authentication steps while maintaining heightened levels of security.

“With 3DS Flex, Worldpay is helping facilitate next-level collaboration between issuers and acquirers on the Visa network,” said Kirk Stuart, SVP and head of enablers, merchants and fintechs at Visa. “This game-changing innovation will help make transactions more secure and improve the customer experience – while also increasing merchant sales, or authorization rates. This is an exciting development for the payments ecosystem.”

The post Worldpay and Visa Join Forces to Boost Authorizations, Enhance Shopper Experience appeared first on FF News | Fintech Finance.

Four major crypto companies are seeking various banking licenses in a strategic effort to integrate digital assets with traditional financial systems, according to a new Wall Street Journal report.

According to the WSJ report, USDC-issuer Circle and BitGo are pursuing federal bank charters that would allow them to function as conventional lending institutions, offering deposit services and loans.

The report also says that Coinbase and Paxos are exploring “similar moves.”

Currently, Anchorage Digital stands as the only crypto-native company holding a federal bank charter, highlighting the substantial compliance hurdles facing digital asset firms.

Back in 2022, Anchorage was ordered by the Office of the Comptroller of the Currency (OCC) to improve its controls around client due diligence, monitoring suspicious customer activity and other anti-money-laundering measures.

Last week, according to a report from Barron’s, the U.S. Department of Homeland Security’s El Dorado Task Force, which combats money laundering and other financial crimes, contacted Anchorage Digital Bank employees to inquire about the company’s practices and policies.

The report cited anonymous sources “familiar with the inquiry.” The specific reason for the probe remains unclear.

Says Anchorage CEO Nathan McCauley of complying with federal regulations,

“It has not been easy… [the] whole gamut of regulatory and compliance obligations that banks have can be intertwined with the crypto industry.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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