Lightspeed Launches Lightspeed Loyalty and other Digital Transactions News briefs from 12/13/18

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  • The Federal Trade Commission announced a settlement with two defendants accused of laundering nearly $6 million in credit card charges through fraudulent merchant accounts.
  • Lightspeed, developer of a cloud-based point-of-sale system, released Lightspeed Loyalty, a service that offers merchants a rewards program, automated marketing, customer data reporting, and, for restaurants, a custom-branded iOS and Android app for customers.
  • Fraud-prevention specialist Forter released a list of the top six items fraudsters are targeting this holiday season. Number one is designer shoes and watches because they are valuable and easy to resell, yet are not so expensive that retailers vet each purchase with great care, Forter says. In descending order the rest are gaming consoles, winter apparel, gift cards, alcohol, and last-minute flights.
  • Mobile-payments provider Glance Technologies Inc. said that in the two years since its service launched it experienced less than 0.018% in fraudulent transactions across its live locations. Glance said this is less than one instance of fraud for every 5,500 transactions.
  • Ingo Money launched Ingo Money QuickConnect, a service that enables companies to issue disbursements to customers via Visa Direct, a real-time payments service.
  • Payments-technology provider i2c Inc. announced it gained certification as an issuer processor for UnionPay International.
  • Robinhood, a startup offering a stock-trading app, has launched a checking and savings account that includes a Mastercard debit card issued by Sutton Bank, according to Techcrunch.com. The account also carries no monthly or overdraft fees and offers a 3% interest rate.
  • The Electronic Transactions Association named its 2019 ETA Young Payments Professionals Scholars Program participants.
  • The Independent Community Bankers of America said it will launch its ICBA ThinkTech Network in early 2019; the network is an online directory of emerging financial-technology companies that work with community banks.

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