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Payments app Zelle begins refunds for imposter scams after Washington pressure

Economic Times

Economic Times · 1y ago

Payments app Zelle begins refunds for imposter scams after Washington pressure

PayPal's peer-to-peer payments app, Zelle, has started providing refunds for scams involving imposters, following pressure from lawmakers. Imposter scams are a type of fraud where scammers pretend to be someone else to trick and deceive victims into sending them money. This move is expected to bring relief to users who have fallen victim to such scams and will likely strengthen consumer trust in Zelle as a secure digital payment platform.

Related News

Marco Rubio has an AI imposter.

The Verge

The Verge · 9d ago

Marco Rubio has an AI imposter.

A person impersonating Secretary of State Marco Rubio used AI to send messages to various officials, including foreign ministers and a US governor, via the Signal app and text, as reported by The Washington Post. The imposter aimed to manipulate targets to access information or accounts. This highlights the risks of AI-driven impersonations in sensitive communications.

Get QR code from another bank: RBI to merchants on Paytm Bank deadline

Inshorts · 1y ago

Get QR code from another bank: RBI to merchants on Paytm Bank deadline

RBI on Friday asked merchants, who are Paytm Payments Bank customers, to obtain new QR codes linked to an account with another bank or wallet. "After March 15...you'll not be able to receive any credit into your bank account or wallet with Paytm Payments Bank," RBI told merchants. Refunds, cashbacks, sweep-in from partner banks or interest will still be permitted.

TikTok's US future still in limbo as commerce secretary visits China

Economic Times

Economic Times · 1y ago

TikTok's US future still in limbo as commerce secretary visits China

Despite the intense pressure on the popular short-form video app, which is owned by Chinese technology company ByteDance, efforts to ban or regulate it in Washington have not borne fruit. And even with all that scrutiny, Raimondo is not planning to discuss TikTok while in China, a glaring omission that reflects the impasse at which it has left the Biden administration.

Lawsuit claims Google is profiting from gift card fraud

Techradar

Techradar · 1y ago

Lawsuit claims Google is profiting from gift card fraud

A class action complaint has been filed against Google, claiming that the company has knowingly profited from gift card scams. The complaint alleges that Google retains funds from stolen gift cards either through commissions from payments to Google Play app developers made with fraudulently obtained cards or by withholding funds paid via such cards. The filing argues that Google has not adequately warned customers about the risks of gift card scams and has discouraged victims from seeking recovery of stolen funds. Similar allegations were recently made against Apple, leading to a settlement in a related lawsuit.

NPCI introduces real time PAN-Bank Account linking on income tax website; taxpayers may get faster income tax refunds - The Economic Times

Economic Times

Economic Times · 27d ago

NPCI introduces real time PAN-Bank Account linking on income tax website; taxpayers may get faster income tax refunds - The Economic Times

The National Payments Corporation of India (NPCI) has launched a new API for real-time PAN and bank account validation for government departments. This initiative aims to expedite income tax refunds and direct benefit transfers by ensuring quick, error-free processing through direct verification from banks' Core Banking Systems (CBS). The facility supports faster fraud-free tax refunds and aligns with NPCI’s mission to enhance India's digital payment infrastructure, though banks must upgrade their systems to comply.

RBI directs NPCI to examine Paytm's request for being third-party app for UPI

Livemint

Livemint · 1y ago

RBI directs NPCI to examine Paytm's request for being third-party app for UPI

The Reserve Bank of India (RBI) has asked the National Payments Corporation of India (NPCI) to evaluate Paytm's request to become a third-party application provider for unified payments interface (UPI) payments. The RBI has also prohibited Paytm Payments Bank from receiving further credits after March 15, 2024. If approved, Paytm will require the support of several banks to continue processing UPI payments. The directive aims to ensure seamless digital payments for UPI customers using the Paytm app and minimize concentration risk in the UPI system. Paytm is the third largest app for UPI payments in India.

The Trouble With Facebook Marketplace

Livemint

Livemint · 1y ago

The Trouble With Facebook Marketplace

Facebook Marketplace, originally intended as a platform for local buying and selling, has become a hotbed for scams and fraudulent activities. Users have reported encountering counterfeit listings, payment scams, and misrepresentation of products. Both buyers and sellers have fallen prey to fraudsters, with financial institutions urging Facebook to improve user protections. Despite the risks, many users still rely on the platform due to its wide reach. To avoid scams, experts advise using secure payment methods, verifying profiles, meeting in public places, scrutinizing listings, and inspecting items before making payments.

Nithin Kamath warns of explosion of fake apps that mimic broker interfaces, promise easy trading profits

Money Control

Money Control · 10m ago

Nithin Kamath warns of explosion of fake apps that mimic broker interfaces, promise easy trading profits

Zerodha's co-founder, Nithin Kamath, has issued a warning about the increasing number of fake trading apps that deceive users by mimicking popular broker interfaces and promising easy money. Kamath explains that these scams start by adding users to WhatsApp groups and prompting them to install fake trading apps that resemble genuine platforms. In the beginning, users are allowed to make profits to convince them of the app's legitimacy, but when they attempt to withdraw the money, they are asked to make upfront payments, after which the scammers disappear. Kamath advises people to be skeptical of claims of easy money and not to fall for such scams.

Cashfree Rolls Out Payment Solution For Software Businesses

Inc42 · 1y ago

Cashfree Rolls Out Payment Solution For Software Businesses

Cashfree Payments has introduced Embedded Payments, a new payment solution for software platforms to enhance the payment experience for businesses. This solution enables software platforms, such as ERPs, CRMs, SaaS, or billing platforms, to facilitate direct payments between businesses and users. It seamlessly integrates financial transactions within the digital platform, allowing end users to initiate payments and transfer funds to the business's designated account within the platform's environment. Cashfree claims that over 120 payment modes can be offered without redirects or external interfaces. The solution simplifies merchant onboarding and provides easy integration for managing payments, refunds, and settlements.

Samsung launches BP, ECG tracking features on Galaxy Watch6 series in India

Startup News FYI

Startup News FYI · 1y ago

Samsung launches BP, ECG tracking features on Galaxy Watch6 series in India

Samsung has launched blood pressure (BP) and electrocardiogram (ECG) tracking features for the Galaxy Watch6 series in India. These features aim to empower users in monitoring and managing their health, with the ability to measure BP and ECG through the Samsung Health Monitor App. The company has obtained regulatory clearances and certifications for these features. The Galaxy Watch6 series also offers personalized health guidance and a 'Tap & Pay' feature for on-the-go payments.

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