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Visa Introduces Tap-to-Add Card in Egypt: A Game Changer for Effortless Digital Wallet Payments
Visa has launched its Tap-to-Add Card in Egypt, aimed at simplifying the integration of contactless cards into digital wallets and enhancing wallet adoption. This innovative feature allows users to add their Visa card by tapping it on a mobile device, eliminating manual data entry and minimizing errors. Key benefits include faster integration, improved security through Visa’s Chip Authenticate service, cost efficiency for issuers, and an enhanced user experience. The initiative reflects Visa’s commitment to advancing digital payments in Egypt, supporting the country’s goal of a cashless society while ensuring data protection against fraud.
Exaforce Secures $75M Funding to Transform Security with Multi-Model AI Innovation
Exaforce, a cybersecurity and AI firm, has raised $75 million in Series A funding led by Khosla Ventures, Mayfield, and Thomvest Ventures. The funds will be used to enhance their Agentic SOC Platform, Exabots, aimed at reducing human workload in Security Operations Centers (SOCs). Founded by experts from Google and Palo Alto Networks, Exaforce’s innovative platform combines large language models with other analytical models to improve SOC efficiency and tackle issues like alert overload and skill shortages. Collaborations with over 10 enterprise partners have achieved significant efficiency gains, validating Exaforce’s approach to AI in security operations.
How Persistent Payment Fraud is Shaping Canadian Spending Habits: A Deep Dive into Consumer Behavior
Payment fraud remains a significant issue in Canada, with over 10% of Canadians reporting incidents in the past six months. A Payments Canada report indicates 13% experienced fraud in 2024, slightly down from 14% in 2023. Concerns about fraud have altered financial behaviors, with 54% changing habits and 32% struggling to identify scams. Common fraud types include unauthorized transactions (38%) and impersonator scams (34%). Young Canadians (18-34) are particularly vulnerable to ‘authorized push payment fraud.’ Canadians are taking protective measures, such as limiting personal information sharing and using two-step authentication, though cybersecurity gaps persist.
Revolutionizing Bank Compliance: How Consilient’s Federated AML/CFT Model is Leading the Charge
Traditional anti-money laundering (AML) systems are struggling against sophisticated financial crimes, with up to 95% of alerts being false positives, according to Consilient. These outdated systems result in operational inefficiencies, increased regulatory scrutiny, and eroded customer trust. The consequences include regulatory fines, reputational damage, and hindered threat response. Consilient’s innovative AML/CFT model uses machine learning to reduce false alerts by 88% and improve detection rates by 300%. Key features include federated machine learning for continuous adaptation, seamless integration with existing systems, and future-proof solutions that help financial institutions effectively combat crime and enhance compliance.
eBay Unveils Klarna’s Flexible Payment Solutions for US Shoppers: Shop Smart and Save!
eBay has expanded its partnership with Klarna to introduce flexible payment options for US shoppers, enhancing affordability across various product categories. Avritti Khandurie Mittal, eBay’s VP of Global Payments, expressed enthusiasm for replicating Klarna’s successful payment solutions from Europe and the UK. US consumers can now utilize options like “Pay in 4,” allowing them to split payments into four interest-free installments, and financing solutions for larger purchases. Additionally, users can resell previous Klarna purchases on eBay, promoting sustainable shopping. This initiative marks a significant step in eBay’s investment in enhancing the online shopping experience.
Kota Secures $14.5 Million to Expand API-Driven Employee Benefits Across Europe
Kota, an innovative Irish InsurTech firm, has raised $14.5 million in Series A funding, totaling $22.9 million. This round, led by Eurazeo and supported by notable investors like EQT Ventures and Northzone, aims to modernize employee benefits through its insurance platform and API. Founded in 2023, Kota enhances the management of pensions and health coverage, offering seamless integrations and improved visibility for HR teams. With plans to expand its team and partnerships across Europe, Kota has already aided numerous SMEs. CEO Luke Mackey emphasizes the need for modern, engaging employee benefits to meet today’s workforce expectations.