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How Smaller Financial Institutions Can Make the New Fed Debit Card Reg a Win for Customers

Gonzobanker

In early October, the Federal Reserve finalized a rule, known as Regulation II (Debit Card Interchange Fees and Routing), that requires every debit card transaction to have access to two unaffiliated payment card networks. The Fed’s rationale is that technology has advanced to properly support CNP with multiple networks.

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Deep Dive: How Payment Card Networks Win Merchants Over

PYMNTS

billion non-prepaid debit card transactions in 2018, solidifying debit as a staple payment type. They insert or swipe their debit cards at stores’ point-of-sale (POS) devices — or key in details online — and maybe enter PINs, but the behind-the-scenes processes through which transactions are routed are kept invisible. shoppers made 72.7

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Stopping Faster Payments Fraud, Faster

PYMNTS

In the latest Data Drivers, Uri Rivner, head of Cyber Strategy and vice president of Business Development at BioCatch , stated that as countries around the world embrace faster payments, they may do well to heed some sobering statistics on fraud gleaned from the United Kingdom’s own experience. Data Point One: 300 Percent. In the U.K.,

Fraud 101
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A Debit-Enabled Fix To In-Store Checkout Abandonment

PYMNTS

Debit cardholders often choose this payment method because it is more secure than carrying cash — which cannot be recovered if lost — and may safeguard them against spending more than they have, which is not the case with credit cards. Rising generations show a keen interest in debit cards, according to a new report.

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Inside Kount’s Fraud-Fighting Machine

PYMNTS

Regardless of the company, its industry, its customers or location, online fraud remains top of mind. The urgency of robust and multilayered fraud detection systems becomes especially clear against a backdrop where card-not-present fraud is likely to grow by leaps and bounds in the wake of the EMV liability shift from last year.

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Cognitive Technology: A shelter in the storm of regulatory change

Insights on Business

It is also an opportunity to implement technology that can facilitate change. However, traditional technology is not the answer. More effective use of technology is key to better adapt to regulatory changes, cut costs and free up much of that locked-up capital. It can detect and halt fraud in milliseconds.

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Preventing consumer e-commerce fraud in the age of EMV

NCR

After years of lagging behind many other developed nations, the US market is rolling out EMV technology. While the transition is still in process, and has in many cases been a bumpy, road to adoption, it will go a long way towards tackling some of the most common types of fraud. The shift to e-commerce CNP fraud.

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