Posts Tagged: money

Zelle may refund your money if you were scammed

Zelle recently made a huge change to its policy that would give victims of certain scams the chance to get their money back. The payment processor has confirmed to Engadget that it started reimbursing customers for impostor scams, such as those perpetrated by bad actors pretending to be banks, businesses and government agencies, as of June 30 this year. Its parent company Early Warning Services, LLC, said this “goes beyond legal requirements.” 

As Reuters noted when it reported Zelle’s policy change, federal laws can only compel banks to reimburse customers if payments were made without their authorization, but not when they made the transfer themselves. The payment processor, which is run by seven US banks that include Bank of America, JP Morgan Chase and Wells Fargo, explained that it defines scams as instances wherein a customer made payment but didn’t get what they were promised. It had anti-fraud policy from the time it was launched in 2017, but it only started returning money to customers who were scammed, possibly due to increasing scrutiny and pressure from authorities. 

“As the operator of Zelle, we continuously review and update our operating rules and technology practices to improve the consumer experience and address the dynamic nature of fraud and scams,” Early Warning Services, LLC, told Engadget. “As of June 30, 2023, our bank and credit union participants must reimburse consumers for qualifying imposter scams, like when a scammer impersonates a bank to trick a consumer into sending them money with Zelle. The change ensures consistency across our network and goes beyond legal requirements.

Zelle has driven down fraud and scam rates as a result of these prevention and mitigation efforts consistently from 2022 to 2023, with increasingly more than 99.9% of Zelle transactions are without any reported fraud or scams,” it added.

A series of stories published by The New York Times in 2022 put a spotlight on the growing number of scams and fraud schemes on Zelle. The publication had interviewed customers who were tricked into sending money to scammers but were denied reimbursement, because they had authorized the transactions. Senator Elizabeth Warren also conducted an investigation last year and found that “fraud and scams [jumped] more than 250 percent from over $ 90 million in 2020 to a pace exceeding $ 255 million in 2022.” In November 2022, The Times reported that the seven banks that own Zelle were gearing up for a policy change that will reimburse scam victims. 

In Zelle’s “Report a Scam” information page, users can submit the scammer’s details, including what they were claiming to be, their name, website and their phone number. They also have to provide the payment ID for the transfer, the date it was made and a description of what the transaction was supposed to be about. Zelle said it will report the information provided to the recipient’s bank or credit union to help prevent others from falling victim to their schemes, but it’s unclear how Zelle determines whether a scam refund claim is legitimate or not. 

“Zelle’s platform changes are long overdue,” Senator Warren told Reuters. “The CFPB (Consumer Financial Protection Bureau) is standing with consumers, and I urge the agency to keep the pressure on Zelle to protect consumers from bad actors.” 

This article originally appeared on Engadget at https://www.engadget.com/zelle-may-refund-your-money-if-you-were-scammed-062826335.html?src=rss

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics

You paid too much money for your Pixel Watch — and Google knows it

A new report shows just how much money Google is making from each Pixel Watch sale and, as it turns out, it’s a lot.
Digital Trends

Don’t waste your money on Audible — use this free app instead

While Audible is the most dominant audiobook listening app on the market, it’s far from the best — and easily outdone by its free alternative, Libby.
Digital Trends

FBI says investors should take precautions before putting money into decentralized finance platforms

Cybercriminals are increasingly exploiting security flaws in smart contracts to steal cryptocurrency, according to the Federal Bureau of Investigation. In an advisory it published on Monday (via Bleeping Computer), the agency warned investors of a significant uptick in attacks targeting decentralized finance platforms.

Between January and March of this year, hackers stole $ 1.3 billion worth of cryptocurrencies, with almost 97 percent of that money coming from DeFi platforms, the FBI said citing data from Chainalysis. That’s an increase from both 2021 and 2020 when DeFi-related thefts represented 72 percent and 30 percent the source of all stolen crypto. The agency has seen criminals employ a variety of methods to fleece DeFi platforms. In one case, hackers employed a so-called flash loan attack to steal approximately $ 3 million worth of cryptocurrencies. In a separate attack targetting a signature verification vulnerability in a platform’s token bridge, cybercriminals made off with $ 320 million.

DeFi chart
Chainanalysis

Many of the most prolific hacks in recent months fall into those categories of attacks. For instance, the largest crypto heist ever saw the Lazarus Group, a North Korean state-sponsored hacking collective, target Axie Infinity. The group reportedly exploited a backdoor in a Remote Procedure Call node from Axie creator Sky Mavis to forge fake withdrawals using compromised private keys. More recently, a hacking “free-fo-all” saw Nomad bridge users lose $ 200 million worth of crypto due to a misconfiguration.

The FBI recommends investors take a handful of precautions before risking their money with a DeFi platform. You should research the platform you want to invest in, as well as the details of the smart contract they employ. Additionally, only put money down on a firm or company that has paid for independent code audits. You also want to avoid investment pools with extremely limited timeframes to join.

“Cyber criminals seek to take advantage of investors’ increased interest in cryptocurrencies, as well as the complexity of cross-chain functionality and open source nature of DeFi platforms,” the FBI said. “Investors should make their own investment decisions based on their financial objectives and financial resources and, if in any doubt, should seek advice from a licensed financial adviser.”

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics

Google Pixel Buds Pro review: Shut up and take our money

Small and comfy, the Pixel Buds Pro sound great and are packed with features. If you’re an Android user, meet your new buds.
Android | Digital Trends

Save money with the best free movie apps for iPhone and Android

Want to watch movies for free on your smartphone? We’ve got your back with this handpicked selection of great free movie apps for Android and iOS.
Android | Digital Trends

You can now use PayPal to send money to users in Ukraine

PayPal will now allow peer-to-peer payments to and from Ukraine. The company announced today that it was significantly expanding its services in Ukraine in the wake of Russia’s invasion. Prior to this, Ukrainian PayPal customers could only use the payment platform to send money outside of the country. Earlier this month, the company announced it was exiting Russia, citing the country’s “violent aggression” against Ukraine.

PayPal users in Ukraine will now be able to send money to and receive money from outside the country, as well as domestically. It’s a move that likely will make life easier for Ukrainians receiving financial support from family and loved ones who live abroad. Ukrainians will also be able to send funds directly to their bank account by linking their Visa or Mastercard debit or credit card.

Perhaps most significantly, PayPal is waiving its own fees (until June 30th) for both sending and receiving funds in Ukraine. The payment platform traditionally charges a fee for international transactions that starts at 5%, and increases depending on your payment method and the region where your recipient resides. 

A new payment option is likely to have a significant impact in Ukraine, where only a few options exist to send or receive money abroad. Sending money to individuals in Ukraine (or virtually anywhere abroad) can be costly. Every payment platform that serves a global customer base in Ukraine (including WesterUnion, MoneyGram, Remitly) charges an international transaction fee or commission, and exchange rates can often be unfavorable. Hopefully, this temporary grace period from PayPal will make a significant impact for those seeking to send money to loved ones in Ukraine. 

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics

I’ve paid for 5G for more than 2 years and it has been a complete waste of money

I signed up for a 5G contract in 2019, and now, more than two years later and despite elaborate promises, I have not seen any benefit from it at all.
Mobile | Digital Trends

[TA Deals] Find your lost stuff and save some money with the KeySmart Pro with Tile (33% off)

Are you always losing your car keys like I am? You can save yourself a ton of hassle in the mornings by investing in a smart tracker, and right now we’re offering a cool deal on a KeySmart tool that will always allow you to keep up with your keys and add some extra functionality […]

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‘Hitman: Absolution’ and ‘Blood Money’ remasters arrive January 11th

Following the success of Hitman and Hitman 2, Warner Bros. and IO Interactive are looking to strike while enthusiasm is high by releasing a remastered collection of older games in the series. The Hitman HD Enhanced Collection includes Hitman: Absolut…
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VidCon 2018: Helping creators earn more money and build stronger communities

I just stepped off the stage at VidCon, a conference created from scratch by Hank and John Green in 2010 that brings together fans, creators, and industry leaders to celebrate the power of online video. I talked about how over the last 13 years, YouTube has grown from an ambitious idea into a worldwide movement built on free expression and the power of openness.

With more than 1.9 billion logged-in users who come to YouTube every month and localized versions stretching across 90 countries and 80 languages, we’re opening up the world to anyone with a cell phone and an internet connection.

YouTube is a vibrant community where everyone has a voice. Every day, creators use their voice to entertain, spur action and bring about positive change. That’s why over the last year we’ve doubled down on building the products and tools that the creator community needs. Not only to thrive on YouTube, but to continue to develop the video platform of the future.

The next big steps for creator monetization

YouTube lets creators connect with their community and gives them the opportunity to earn money while doing what they love. Thanks to advertisers, creators around the world have been able to build businesses, creating an entirely new global economy that’s seen incredible growth. The number of creators earning five figures a year is up by 35 percent and the number of creators earning six figures is up by 40 percent. As in previous years, the vast majority of the revenue is coming from our advertising partners. We’ll continue investing here, but we also want to think beyond ads. Creators should have as many ways and opportunities to make money as possible.

We’ve been working on new tools that not only help creators better engage with their fans, they also enable them to make money while doing it. This is an idea that really began last year with Super Chat, a product that allows fans to purchase messages that stand out within a live chat. We’ve seen tremendous success with Super Chat and have since expanded to Ticketing, Merchandise, Channel Memberships and more. We’re also bringing creators and brands together to form unique marketing partnerships via FameBit.

Channel Memberships

With Channel Memberships, viewers pay a monthly recurring fee of $ 4.99 to get unique badges, new emoji, Members-only posts in the Community tab, and access to unique custom perks offered by creators, such as exclusive livestreams, extra videos, or shout-outs. Channel Memberships have already been available for a select group of creators on YouTube as Sponsorships. We’ve seen a lot of creators find success with this new business model. So, we’ll soon be expanding this to eligible channels with more than 100,000 subscribers on YouTube under the new name Channel Memberships. We hope to bring it to even more creators in the coming months.

Creators who have already been experimenting with this feature on YouTube have seen encouraging results. Since launching in January, comedy creator Mike Falzone more than tripled his YouTube revenue. And traveling duo Simon and Martina have built a closer-knit community and revamped a miniseries exclusively for their members, in more than 30 countries from Finland to the Philippines.

Merchandise

Merchandise has been a part of many creators’ businesses for a long time. We want to make it easier for more creators to sell merch directly from their channel. So we’ve built a product that allows them to do just that. From shirts with a logo to phone cases with a creator’s face, we’ve joined forces with Teespring so creators can choose from over 20 merchandise items to customize and sell via a shelf on their channel. This will be available to all eligible U.S.-based channels with over 10,000 subscribers starting today, and we plan to bring even more merchandising partners and creators in soon.

Just take a look at Joshua Slice’s merchandise shelf. The creator of Lucas the Spider recently turned his hero character into a plushie selling over 60,000 furry friends and generating over $ 1 million in profit in just 18 days, according to Teespring.




Introducing Premieres

The engagement between fans and creators is at the heart of YouTube. We’re working on new ways to help creators strengthen those unique bonds. Livestreams have brought the YouTube community together during the biggest music, science, and gaming events. We’ve also built a Community Tab that allows creators to move beyond just video to build even deeper connections with fans through GIFs, pics, polls, and text. And we’ve started experimenting with our take on Stories, but designed specifically for YouTube creators—coming to all eligible creators with more than 10,000 subscribers later this year.

Today, we’re introducing a new way for creators to upload content to YouTube called Premieres. With Premieres, creators will be able to debut pre-recorded videos as a live moment. When creators choose to release a Premiere, we’ll automatically create a public landing page to build anticipation and hype up new content. When all fans show up to watch the premiere, they’ll be able to chat with each other (and with the creator!) in real time via live chat. It’s as if a creator’s entire community is in one theater together watching their latest upload.

Premieres also unlocks new revenue streams. For the first time, creators can use Super Chat on traditional YouTube uploads and take advantage of Channel Memberships perks that were previously only available on Live videos.

Premieres are starting to roll out to creators today and will be available broadly soon. If you want to experience one for yourself, check out some upcoming premieres from creators such as Leroy SanchezJacksFilmsJackson Bird, and Ari Fitz, with more Premieres coming from  Corridor Digital and Inanna Sarkis soon.

YouTube creators are the heartbeat of our platform. That’s why we’re committed to building products that empower and support the creator community. We hope these tools help creators build a stronger community and earn more money while doing it, because when they succeed, the entire YouTube community thrives.

Neal Mohan, Chief Product Officer, recently watched “Lucas the Spider – Plush Introduction.”


YouTube Blog

Owe someone money? Need to collect? Google Assistant can now handle IOUs

It’s not hard to find yourself owing a friend or family member some cash. Maybe they covered a movie ticket. Perhaps they paid for drinks on a Saturday night. And what if it’s the other way around? Maybe someone owes you for gas on a road trip. Whatever the case, Google Assistant can now handle […]

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TalkAndroid

Google and Amazon likely lost money on smart speakers this year

Amazon and Google were extremely aggressive with their small smart speakers this holiday season, cutting the price on both the Echo Dot and Google Home Mini to just $ 29 for months. That was down from a $ 50 price point on both units before Q4. That move was great for customers, and I’m sure both Google […]

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PayPal releases new Money Pool feature for upcoming holiday shopping season

PayPal announced a new feature that they hope will help people deal with the stress of the holiday shopping season. According to PayPal, 54% of people who responded to a recent poll say they are stressed out by the prospect of holiday shopping and only 32% find it a joyful experience. To help with that, […]

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LG’s 3rd quarter profits are up 82% as smartphones actually lose money

LG’s operating profits for the 3rd quarter were 516.1 billion won (about $ 454 million) and revenue was up by 15.2 percent at 15.23 trillion won (about $ 13.4 billion). Unfortunately, LG’s mobile division didn’t contribute a dime. The bulk of profits came from high-end home appliances and televisions. LG had a big comeback with smartphones in […]

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New Zelle P2P payment system to provide new safe, fast platform to move money

Hot on the heels of Apple’s announcement of a new iMessage based payment processing framework to help Apple’s customers move money from person-to-person, a new bank-backed solution called Zelle was announced by Early Warning Services. The new Zelle system will be available to approximately 86-million mobile banking customers through their bank specific apps. Zelle promises […]

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Give Rachael Ray a run for her money with these 12 cooking apps

Consider yourself lost in the kitchen, or fancy yourself a capable chef? Check out our notable selection of the best cooking apps, whether you’re need need of a killer recipe or a simple video tutorial.

The post Give Rachael Ray a run for her money with these 12 cooking apps appeared first on Digital Trends.

Android Army–Digital Trends

Sharp’s Aquos Xx3 Mini may give the Xperia X Compact a run for its money

Known more for making televisions than smartphones, Japanese company Sharp unveiled the Aquos Xx3 Mini. The phone will be available in February 2017, though it will only be sold in Japan.

The post Sharp's Aquos Xx3 Mini may give the Xperia X Compact a run for its money appeared first on Digital Trends.

Android Army–Digital Trends

Watch the trailer for Apple Music’s Cash Money documentary

Wondering what Apple's Cash Money documentary will look like? You can already get a peek today. Apple has posted a trailer for the feature, The Cash Money Story: Before Anythang, that gives you a sense of what to expect from the Apple Music exclusive…
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ZTE quietly launches V7 Max and A910 in China with impressive specs for the money

We’re wondering why ZTE didn’t hold a big event for the V7 Max and A910 Android phones. The V7 Max offers premium specs for a competitive price, while the A910 offers solid specs for budget-conscious consumers,

The post ZTE quietly launches V7 Max and A910 in China with impressive specs for the money appeared first on Digital Trends.

Mobile–Digital Trends

The 7 best phablets money can buy

Phablets used to be a novelty, but now they’re exceedingly popular, and it can be hard to know which ones are best. We’ve put together this list of the best phablets around to help you choose which whale of a phone to buy.

The post The 7 best phablets money can buy appeared first on Digital Trends.

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