Today In Payments: Cybersecurity Firm FireEye Hacked By Nation-State; PayPal’s iZettle Intros QR Codes At POS In UK
In today’s top news, cybersecurity firm FireEye announced that it had been hacked by a suspected nation-state, and PayPal’s iZettle added QR code payments to its POS app in the U.K. Plus, Robinhood is in talks to go public.
The cybersecurity firm FireEye — which counts numerous government agencies among its clients — said in a blog post that its proprietary tools were hacked by a suspected nation-state. The fraudsters were also allegedly after data from FireEye’s government agency clients. FireEye has reportedly spent the past two weeks resetting user passwords.
PayPal has introduced QR code payments in iZettle’s point-of-sale app to advance secure, contactless transactions in the U.K. amid COVID-19 restrictions. The new tool coincides with the gradual reopening of U.K. businesses.
Stock trading app Robinhood Markets is reportedly working with Goldman Sachs for its initial public offering (IPO) preparations, which could come out next year and value the company at $20 billion.
Square has brought DoorDash onto its on-demand delivery platform for Square online sellers, who can harness a countrywide network of Dashers as a fulfillment choice via a new partnership with DoorDash Drive. Merchants pay a fixed charge of $1.50 per order to Square, along with a flat DoorDash delivery charge.
Banks have long turned to a familiar set of tools for managing credit risk — late fees and other penalties. Artificial intelligence (AI) can help, but many banks lack the resources needed to properly implement it. In the 2021 AI Business Plan Playbook For Banks, PYMNTS provides a six-step framework to help banks use AI to manage credit risk.
Are all payments rails created equal? Can business payments be rail-agnostic? Alan Koenigsberg, global head of new payment flows at Visa Business Solutions, and Tim Summers, vice president of Visa Direct global segments and market development, tell Karen Webster that B2B payments are reaching a point where financial institutions (FIs) and rail infrastructures can level the playing field between how smaller and large firms make and receive business payments.
The federal government has selected several retailers to act as distribution points when the COVID-19 vaccines are ready to go. Grocers, in particular, are expected to see an uptick in consumer traffic because of it.