The Green Sheet Online Edition
June 22, 2026 • 26:06:02
News Briefs
Kurv report highlights hidden costs of payments fraud <- click to read full story
Businesses are facing growing hidden costs from payments fraud that extend far beyond direct financial losses and chargebacks, according to a recent research report from Kurv. The report, The Growing Burden of Payments Fraud on SMBs, found that many merchants underestimate the broader operational, reputational and customer-service impacts associated with fraud incidents.
Kurv said businesses increasingly must absorb additional labor costs tied to fraud investigations, customer support, compliance obligations, technology investments and dispute resolution. The report also noted that fraud-related disruptions can strain internal teams, slow business growth and divert resources away from strategic initiatives.
The company highlighted rising concerns around account takeovers, synthetic identity fraud, business email compromise schemes and AI-assisted fraud tactics that allow criminals to scale attacks more efficiently across digital commerce and real-time payments environments.
In addition, fraud prevention is becoming a strategic business function rather than simply a compliance exercise. Fraud incidents can damage customer trust, increase cart abandonment and contribute to long-term reputational harm. Excessive chargebacks and fraud activity may also expose merchants to higher payment processing costs and greater scrutiny from acquiring partners and card networks.
Kurv further warned that overly aggressive fraud controls can create payment friction, frustrating legitimate customers and reducing conversion rates. Kurv recommends real-time transaction monitoring, stronger authentication tools, employee education and close coordination between fraud prevention, operations and customer experience teams.
Colorado governor vetoes interchange bill <- click to read full story
Colorado Governor Jared Polis vetoed legislation that would have prohibited interchange fees on the tax portion of card transactions, drawing praise from banks and criticism from merchant groups. In a letter to lawmakers, Polis said he supports addressing payment-system friction and credit card competition issues at the national level but questioned whether a Colorado-specific carve-out would be operationally feasible within the integrated payments system. The veto follows a federal court ruling in Illinois permanently blocking enforcement of a similar state law for national banks, out-of-state state-chartered banks, federal savings associations and payment networks. The Illinois ruling does not apply to Illinois-chartered banks or credit unions, both of which plan appeals alongside retailer groups.
American Bankers Association President and CEO Rob Nichols praised Polis’ decision, saying it spared consumers, businesses and the state from “payment chaos” and a costly legal battle. Merchant groups sharply disagreed. Doug Kantor, executive committee member of the Merchants Payments Coalition and general counsel of the National Association of Convenience Stores, said the veto leaves merchants and consumers paying “inflated, price-fixed swipe fees” on sales taxes and purchases.
Polis argued the financial benefit to merchants would have been relatively small. Based on Colorado’s combined average sales tax rate of roughly 8 percent, he estimated the legislation would have reduced merchant costs by about 0.13 percent of a transaction’s gross total if fully implemented and upheld in court.
Patent expirations reshape access control market <- click to read full story
As key patents covering legacy HID Global 125 kHz proximity card technology expire, organizations are gaining new flexibility in employee identification and access control systems. The low-frequency badge technology has long been used for tap-or-scan access to buildings and facilities, but security experts say the aging systems are increasingly vulnerable to duplication and unauthorized access.
According to Sebastien Goulet, chairman and CEO of CardLogix Corp., many organizations are reevaluating access-control strategies as they adopt stronger authentication and passwordless security initiatives. He said traditional 125 kHz proximity cards were designed primarily for physical access and do not meet modern enterprise security requirements.
Goulet believes businesses are increasingly looking to unify physical access, computer logins and employee authentication into a single credential rather than relying on separate systems managed by different departments. High-memory smart cards capable of storing secure credentials, biometric information and authentication certificates could help organizations improve security while streamlining administration and reducing costs.
As enterprises and government agencies expand biometric authentication efforts, information technology teams may also assume broader responsibility for both physical and digital access management. Goulet said organizations that successfully combine physical security, digital identity and biometric authentication technologies will be well positioned as credential-management systems evolve.
“The market is moving toward a single credential” that balances convenience, security and operational efficiency, Goulet said.
Major banks back Clearing House initiative for tokenized deposits <- click to read full story
A coalition of major financial institutions is advancing a new initiative designed to connect blockchain-based financial activity with traditional banking infrastructure. Announced June 5 by The Clearing House and supported by several large banks, the effort seeks to enable large-scale clearing and settlement of tokenized commercial bank deposits while preserving the regulatory framework of the existing banking system.
Under the model, tokenized deposits could move between participating banks using on-chain technology while remaining connected to established payment rails such as RTP and CHIPS. Supporters said the initiative could help financial institutions support programmable payments, automated treasury operations, real-time liquidity management and other emerging digital financial services without relying on stablecoins or nonbank-issued digital assets.
“The banking industry has long provided the trusted infrastructure that underpins the movement of money throughout the global economy,” said David Watson, president and CEO of The Clearing House.
Unlike cryptocurrencies operating outside regulated banking systems, tokenized deposits represent traditional commercial bank money issued within existing regulatory structures. Supporters argue the model combines blockchain programmability with the stability and trust associated with regulated bank deposits.
Participating institutions include Bank of America, BMO Financial Group, BNY, Citi, Citizens Financial Group, Fifth Third Bank, HSBC, JPMorgan Chase, PNC Bank, TD Bank, U.S. Bank and Wells Fargo. The Clearing House said the initiative could eventually allow banks of varying sizes to participate in blockchain-enabled payment ecosystems.
Mastercard expands settlement capabilities <- click to read full story
Mastercard plans to expand its settlement capabilities to give issuers and acquirers greater flexibility in how and when transactions are settled, including support for intraday, weekend and holiday settlement. The company said the enhancements are designed to improve liquidity management and support use cases where timing and transparency are critical, including cross-border payments, treasury operations and payouts.
The expanded capabilities will support settlement in both fiat currency and regulated stablecoins. Mastercard said it will enable settlement using Circle’s USDC, Paxos-issued stablecoins including PYUSD, USDG and USDP, Ripple’s RLUSD and SoFi’s SoFIUSD across blockchain networks including Ethereum, Solana, Polygon, Arbitrum, Base, XRPL and others.
ARQ, CBW Bank, Cross River Bank, Lead Bank and Nuvei are expected to be among the first organizations supporting stablecoin settlement in the United States and Latin America.
Raj Dhamodharan, Mastercard executive vice president for blockchain and digital assets, said the enhancements are intended to help partners manage liquidity in an increasingly always-on digital economy while maintaining existing protections, fraud safeguards and dispute processes.
Industry participants described the move as a significant step toward broader adoption of blockchain-based settlement infrastructure. Executives from Circle, Ripple, Cross River and Lead Bank said demand is growing for faster, more transparent settlement capabilities that can operate beyond traditional banking hours. Mastercard said the new capabilities will operate through its existing global payments infrastructure.
Payments by magic wand? <- click to read full story
Block is experimenting with a new payment form factor aimed at younger consumers through the launch of a limited-edition Cash App Wand, an NFC-enabled device that can be tapped or waved near payment terminals. Designed with Gen Z consumers in mind, the pearlescent wand sells for $25 through the Cash App while supplies last and includes a keychain attachment for portability.
The company described the wand as the first in a broader line of “Cash App Tags” intended to make payments more visible, social and customizable. Block said the devices are particularly useful in situations where phones are inconvenient or prohibited, such as concerts, festivals or phone-free venues.
“We see a unique opportunity here to make payments visible and social for the first time,” said Thomas Templeton, hardware lead at Block. He added that early testers enjoyed showing off the wand during transactions.
Block said the technology could eventually expand into additional wearable and collectible payment formats, including jewelry and clothing. Consumers must already have a Cash App Card to activate a tag, which can then be used anywhere Visa tap-to-pay is accepted.
The company cited research showing strong Gen Z interest in collectibles and personalized payment products. According to Block, one in five American teens already uses a customizable Cash App Card, while a recent survey found 38 percent of Gen Z consumers purchase collectibles or limited-edition items at least monthly. Security features include real-time transaction alerts, fraud monitoring and the ability to lock or deactivate a tag instantly through the app. 
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