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NewsBriefs

This article contains excerpts from news stories recently posted under
Breaking Industry News on our homepage. For links to these and
other full news stories, please visit www.greensheet.com/breaking-
news.php.

Apple opens door, a crack, to PayPal
Apple's policy of limiting competition in its digital wal-
lets faces challenges as PayPal allows customers to add
PayPal and Venmo cards to Apple Wallets. Mobile wal-
lets gained popularity during the pandemic, with 42
percent of Americans using them in 2022.

Apple's reluctance to open its devices to rival wallets
like Google Pay has led to scrutiny from the U.S. Con-
sumer Financial Protection Bureau and the European
Union.

Apple also faces a class-action lawsuit in the United
States alleging antitrust violations by card issuers. Ap-
ple charges issuers for wallet transactions and domi-
nates the mobile wallet market with 55 million users.
Juniper Research forecasts U.S. mobile wallet transac-
tions to reach $179 billion this year and $451 billion by
2028.
New study exposes fraud’s false narratives

Forgeries, deep fakes and generative AI models are
blurring the lines between reality and fiction, accord-
ing to a new study by AU10TIX. Published Oct. 17, 2023,
the company’s Q2 2023 Global Identity Fraud Report seg-
ments emerging threats by industry and region, build-
ing a case for advanced biometrics and multilayered
strategies to defend against organized crime.

Based on curated metadata from millions of transac-
tions processed in 249 countries between April and
June 2023, the report found a 44 percent uptick in orga-
nized ID fraud in North America.

Researchers suggest the upsurge may be driven by eco-
nomic and inflationary pressures that embolden pro-
fessional ID fraud syndicates. Additional hot zones in-
clude Asia-Pacific region, where over 4 percent of trans-
actions were flagged as ID fraud.
Deloitte predicts jolly holiday season

Consumers are poised for a robust holiday shopping
season, adapting to higher prices driven by inflation,
according to a new report from Deloitte LLP. Despite
72 percent of consumers expecting to pay more, nearly
all intend to participate in year-end holiday shopping,
planning to spend an average of $1,652.

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