Payments Industry News
A collection of Payments latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Hacker stole £700,000 from U.K. energy company by redirecting payment
British oil and gas company Zephyr Energy says someone stole £700,000 (close to $1 million) from one of its U.S.-based subsidiaries by redirecting a payment meant for a contractor into a hacker-controlled account. In a regulatory filing with…
Global Payments Inc. stock outperforms competitors on strong trading day
Shares of Global Payments Inc. GPN rose 1.24% to $65.88 Thursday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 0.62% to 6,824.66 and the Dow Jones Industrial Average DJIA…
USPS suspends payments to FERS pensions in cost-savings effort
The United States Postal Service announced on Thursday that it will halt contributions to its employees' retirement pension plan as the agency works to conserve cash and manage its dwindling finances. Postal Service Chief Financial Officer Luke…
Iran's Sanctions-Busting Crypto Ambitions Grow on Toll Payments
As a fragile US-Iran ceasefire takes shape, Tehran has signaled that payments in digital currency should form part of any toll system for vessels passing through the Strait of Hormuz, the chokepoint through which around a fifth of the world's oil…
US Postal Service to suspend employer payments to workers' pensions, citing cash crunch
The U.S. Postal Service said Thursday it has informed federal budget officials it will temporarily suspend its employer contributions to Federal Employees Retirement System annuities, allowing it to keep making payroll, paying suppliers and…
Off the Grid maker and Game Informer owner Gunzilla Games accused of missing staff salary payments
Former and current staff at Gunzilla Games, publisher/developer of blockchain game Off The Grid and owner of US games publication Game Informer, say that the company has not been paying salaries for months. Workers at the company have taken to…
US Postal Service to suspend employer payments to workers' pensions, citing cash crunch
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Social Security Has Never Missed a Payment. Will That Change Soon?
Few people would disagree with the fact that Social Security has problems. Many recipients believe that their checks don't cover enough living expenses and that their buying power has declined over time. But despite those valid concerns, the Social…
Samsung family completes inheritance tax payments with Hong Ra-hee share sale
Hong Ra-hee, the widow of late Samsung Group Chairman Lee Kun-hee, has sold a stake in Samsung Electronics worth nearly 3.1 trillion won ($2.1 billion) to complete the payment of inheritance taxes on assets left by the late tycoon, industry sources…
RBI Pushes for Faster Cross-Border Payments, Proposes Delay for High-Value Digital Transactions to Curb Fraud
The Reserve Bank of India (RBI) has issued fresh guidelines to speed up cross-border inward payments, while separately proposing new safeguards, including a potential delay on certain high-value digital transactions, to tackle rising fraud. In a…
Digitec introduces payment by installments - and experts sound the alarm
At Digitec Galaxus, you can now pay for products in installments. However, what is sold as a practical additional payment option can quickly become dangerous. Experts explain who needs to be particularly careful. Digitec Galaxus is now offering…
DWP confirms start date for tax on State Pension payments
The Department for Work and Pensions (DWP) has confirmed that pensioners whose sole income is the Basic and full New State Pension, “without any increments, will not pay any income tax this tax year or next”. Pensions Minister Torsten…
Payments fintech Pepper Pay declares bankruptcy
Key insight: Pepper Pay recently filed for bankruptcy to liquidate its $665,000 in assets against over $3.4 million in debts. What's at stake: The competitive market can be stiff, and risky, for payment processing ISOs. Expert quote: 'There is a…
US Postal Service to suspend employer payments to workers' pensions, citing cash crunch
US Postal Service to suspend employer payments to workers' pensions, citing cash crunch The postal service is at *** critical juncture. At our current rate, we'll be out of cash in less than 12 months. So in about *** year from now, the postal…
PIP payments of up to £778 a month for people with muscle or joint conditions
The latest figures from the Department for Work and Pensions show over 3.9 million people across England and Wales are now receiving Personal Independence Payment (PIP). The disability benefit is now worth up to £778 every four-week payment…
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