PYMNTS

JULY 1, 2019

Hacks and data breaches have become all too common, with fraudsters turning to “brute force” attacks and plugging in commonly used passcodes to gain access to users’ accounts. There is a growing need for stronger authentication methods as the number of attacks continues to climb. Biometrics and the Benefits for Security .

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PYMNTS

OCTOBER 15, 2020

A platform, he noted, that authenticates consumers throughout their relationships with their financial services providers, beyond the initial moment of onboarding. Authentication After Onboarding . The first is keeping track of the customer over time, making sure the person using an account is the same one who opened it.

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PYMNTS

JULY 8, 2020

In many cases, AI is fundamental to scaling and keeping up with the pace of the network transactions that are happening,” said Sudhir Jha , a Mastercard senior vice president and head of Brighterion , an AI company that Mastercard acquired in 2017. “In Using AI to Optimize Internal Operations.

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PYMNTS

APRIL 24, 2019

Attention-starved celebrities and people showing off on social media used selfies, not serious, reputable companies competing for market share in the digital economy. That’s the view of Robert Prigge, CEO of authentication services provider Jumio. Golden Time.

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social media Security Data Online 156

PYMNTS

JUNE 24, 2020

Those less tech-savvy individuals represent juicy targets for fraudsters, who have been fine-tuning card-not-present (CNP) schemes to work across all manner of channels during the pandemic as we wield smartphones to make transactions or bank over the phone. The digital ID is something that you’ve used to establish trust in the past,” he said.

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Fraud Security Cards Course 262

PYMNTS

MARCH 17, 2020

Drill down a bit, he said, and the “e-IDs” that governments are starting to issue, as have been seen in Australia, are serving as a springboard of sorts, gaining traction across a few use cases. And then,” Pointner told Webster, “you have the overarching, strategic developments of digital identities that can be interoperable.”.

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Resources Regulation System Mobile 216

Celent Banking

NOVEMBER 11, 2014

However, I believe that there is a great opportunity for certain wearable devices to provide strong authentication and enhance the user experience ( see this blog entry ). The device will take the user’s electrocardiogram and use it for authentication purposes. Sounds pretty cool to me!

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User Experience Conference Video Online 207

Abrigo

MARCH 30, 2023

A P2P (Peer-to-Peer) transfer is the process in which an individual can transfer funds from their bank account to another individual’s account using a digital medium such as a mobile phone or the internet. What is the volume of transactions? What are the amounts of the transactions? Use multifactor authentication.

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Fraud Trends Payments Cards 195

Cisco

JULY 12, 2021

SIM swap happens when fraudsters use phishing techniques to transfer a customer’s mobile phone number to a SIM in their possession. Platforms such as imi connect can use mobile network information to monitor a customer’s SIM for the risks above. Build robust authentication processes.

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Fraud Mobile Security Customer Experience 168

PYMNTS

MAY 7, 2019

In a press release on Tuesday (May 7), Citi announced the launch of Citi Verify, which uses authentication solution provider GIACT Systems to validate corporate clients’ own U.S. customers before transacting with them.

Payments 134

Payments America Industry System 134

PYMNTS

OCTOBER 29, 2020

Swanback talked with PYMNTS about how the use of automation and a cloud-based infrastructure can help financial institutions (FIs) deliver an Uber-like experience for B2B payments. FIs must also ensure that the transaction is compliant with regulatory requirements. Hurdles Facing Business Payments.

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Payments Fraud Meeting Security 213

PYMNTS

DECEMBER 11, 2020

PYMNTS’ December 2020 Digital Identity Tracker® , done in collaboration with Jumio , delves with enthusiasm and deep detail into the burgeoning field of video-based KYC , highlighting a number of compelling use cases from around the world that showcase its effectiveness.

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Video Security National Digital Banking 204

PYMNTS

MAY 13, 2019

It’s an inherently vulnerable platform upon which to interact and transact. Separation and authentication of those transactions are critical, he said, in an age where banks want to tap into a demographically desirable population: millennials. And there are also many people who are still using feature phones.”.

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PYMNTS

DECEMBER 3, 2018

Excuse the homespun wisdom, but offering weak authentication defenses in the face of those determined young consumers can bring down heavy fines and unwanted attention, and threaten a growing retail or online business. In this case, we are talking about the global market for eCigarettes. Market Growth. Store Training. Biometric Role.

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Online Training Security Data 177

PYMNTS

JULY 23, 2019

The fundamental unit of trust in any transaction lies in identity — namely, ensuring that the person who shows up to transact is who they say they are. It’s also the most highly regulated part of any financial transaction. Dynamic Vs. Static Authentication . Moreover, he added, enabling more than $3.6

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Data Mobile Compliance Security 101

PYMNTS

DECEMBER 12, 2018

Right now, though, we are talking about fraud, and how criminals use online data sites to steal from consumers in search of romance or, at least, some temporary companionship. That would be better authentication systems, processes that include biometrics. It depends on the use case,” Hochrieser said. Authentication Value.

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PYMNTS

FEBRUARY 13, 2020

So before we add another layer of authentication , we should ask, is this actually going to serve a purpose or solve our problem?”. What is necessary, said Xie, is a different, more holistic paradigm for fighting fraud – with a broad goal of not adding more authentication steps, but fewer. The Zero-Authentication Future.

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Fraud Security Analysis Examples 245

PYMNTS

AUGUST 15, 2019

In the days before eCommerce, before data breaches grabbed everything from Social Security numbers to passwords, before fraudsters began to craft synthetic identities, strong customer authentication was rather simple. Although delayed, the migration will take place. We live in a digital world,” said Eleveld. Identifying Identity.

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PYMNTS

JUNE 4, 2020

B2B payments are rife with frictions, including high processing costs, slow transaction times and industry players’ reluctance to embrace electronic payments in lieu of paper checks. The share of B2B transactions conducted via check has fallen 50 percent since 2004 and hit an all-time low of 42 percent last September, for example.

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PYMNTS

JANUARY 10, 2019

The headlines surrounding PSD2 trumpet the arrival of open banking – where customers and companies have access to data in one place and can share it with third parties through APIs – but there is also the need for strong customer authentication (SCA). PSPs have been steadily gathering more information from merchants.

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PYMNTS

OCTOBER 19, 2017

In addition to the potential liability that issuers and merchants may face if stolen credentials or identities are used online, breaches only further fuel consumer concerns over whether – or how – to use their payments credentials securely in an increasingly digital world. And for good reason. Removing The Burden.

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Security Tools Technology How To 145

PYMNTS

JANUARY 30, 2020

The banking industry is increasingly favoring self-service, as customers making transactions grow to prefer tellerless ATM and kiosk interactions. This technology allows for faster deposit processing, and, in most cases, [deposits] clear within hours instead of within days,” Barnett explained. personal and business banking.

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Operations ATM Cards Case Study 152

PYMNTS

FEBRUARY 22, 2017

21) said the EBA has agreed to relax proposed rules that would require more stringent customer authentication measures for online sellers after industry players raised concerns that the rules would lead to abandoned checkouts and higher rates of declined transactions. Reports Tuesday (Feb.

Payments 160

Payments Online Analysis Report 160

PYMNTS

OCTOBER 6, 2020

Case in point: The Wall Street Journal recently reported that the bankrupt owner of New York Sports Clubs and Lucille Roberts might have to pay out about $850,000 in chargebacks and refunds. Many of these businesses require upfront deposits, with recurring transactions based on services provided in the future,” she pointed out.

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PYMNTS

SEPTEMBER 10, 2018

Authenticating a transaction can be a widely varied experience. Call centers, particularly those dealing with financial transactions, have a strong need to be sure that the person on the other end of the line is actually their customer. Sometimes, that cashes out in semi-amusing ways. Friendly Friction.

Cards 102

Cards Mobile Security User Experience 102

PYMNTS

FEBRUARY 3, 2020

Fraudsters have flocked to online marketplaces with the same zeal as legitimate consumers, taking full advantage of such platforms’ anonymity and transaction speeds. Recent PYMNTS research found that 71 percent of surveyed platforms use email addresses — the most popular method — to verify users.

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Security Fraud Tools Online 132

PYMNTS

JANUARY 16, 2019

Human wrists deserve a break when it comes to payments, commerce and even authentication, right? That may be, but the use of rings for fitness tracking, payments, commerce and authentication does present challenges. In short, there needs to be good use cases. It’s a reasonable concern. A ring is very subtle.”

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Data Payments Course Retail 131

PYMNTS

APRIL 3, 2019

Simply showing what the lowly, mundane, terribly average phone number can do in terms of securing transactions, onboarding and other tasks vital to the daily lives of digital consumers. The road to verification via phone number, in Cognito’s case, started with the development of “very easy-to-use APIs for the ID verification space.”

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Fraud Security Data Cards 148

PYMNTS

JANUARY 7, 2019

Biometrics promise to take a larger role in authentication security in 2019, helping to stop online fraud and bringing speed, efficiency and security to transactions ranging from QSR mobile-order ahead to airport car rentals. for use of biometric data. Six Flags Case. Illinois’ Role. Larger Trends.

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PYMNTS

JUNE 13, 2017

In a press release the companies said they will jointly demonstrate the mobile-based biometric authentication approach at this year’s Digital Banking conference in Austin, Texas from June 12 to 14. “As Once verified, cash will dispense, and the transaction is complete in less than half the time of a standard ATM transaction.

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Samsung ATM Austin Security 119

PYMNTS

MARCH 24, 2020

percent of consumers who use these apps are dissatisfied with them. This is true even for routine transactions, such as transferring money to friends and relatives or making retail payments. percent saying it is too easy for mistakes to be made while using these functions, respectively. This is the case for 34.8

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UX User Experience Survey Meeting 150

PYMNTS

APRIL 30, 2019

Local officials have started to at least consider bans on official use of facial recognition. Using consumer phone numbers to ensure that the person on the other end of the connection is authentic and legitimate. The biometrics backlash has already begun. The method? Think about it the way he does.

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Fraud Illinois Regulation Online 161

PYMNTS

SEPTEMBER 16, 2019

Despite announcements last month that the deadline for Strong Customer Authentication (SCA) compliance will be extended , the original proposed deadline approaches next week. The latest PSD2 Tracker looks into how EU merchants and retailers could leverage biometric authentication to better comply with SCA. Previous efforts for the U.S.

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PYMNTS

SEPTEMBER 3, 2020

Cash will always have a place among consumers — but its use is dwindling. Companies have had to adjust their inventory management practices, and in many cases amid lockdowns and shutdowns have had to look for alternative vendors. Only 26 percent of all consumer payments are made in the U.S.

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Payments Security Millennials Retail 262

FICO

MARCH 30, 2020

Adaptive identity authentication is the process of tailoring each customer authentication to the specifics of the request. It involves calibrating multiple sets of risk indicators to determine the type of authentication needed, and how strong to make it. Adaptive identity authentication is increasingly important.

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Examples Fraud System Compliance 52

PYMNTS

JANUARY 28, 2021

Commenting on the preponderance of fraud attempts using stolen identities and synthetic identities at present, Brown added , “FIs can leverage a combination of various know-your-customer authentication methods along with biometrics such as facial recognition compared to a photo ID. Consumers Getting Wise To Scams.

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Fraud Survey Digital Banking Security 244

PYMNTS

AUGUST 12, 2019

Noncompliance could have a serious impact on merchants’ conversion rates, as transactions that cannot be properly authenticated could stall or get declined and frustrate both merchants and end consumers. SCA exemptions also apply to transactions processed via platforms that consumers have deemed trustworthy.

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Regulation Compliance Security Payments 100