PYMNTS

JUNE 19, 2016

On the EMV front, Home Depot decided it felt strongly enough about Chip and PIN that that it sue MasterCard and Visa over it.Walmart Canada decided it would stop accepting Visa cards since they say they are too expensive. And according the the Atlanta-based building supplies retailer, that flaw is putting both customers and retailers at risk.

Retail 100

Retail Cards Data Atlanta 100

PYMNTS

JUNE 14, 2016

Gas stations offer a lot of benefits for card fraudsters. They’re unattended, which makes it easy (and even inconspicuous) for them to check out whether their counterfeit cards are alive and well and ready to use. As a result of that pilot, there was a 23 percent reduction in fraud.

Fraud 100

Fraud Operations Cards Analytics 100

NCR

JULY 13, 2017

Financial institutions should be braced for a tough fight against fraudsters this year, as they have been warned 2017 is set to be a record year for card fraud losses. For instance, it highlighted card skimming at ATMs or POS machines as an attack method that continues to be troublesome.

Fraud 55

Fraud Cards ATM Conference 55

Gonzobanker

DECEMBER 22, 2014

It’s time for the 2014 GonzoBanker Awards! Retailer of the Year that Caused the Most Project Heartache in Bank I.T. And won’t address the biggest area of fraud growth, which is card-not-present. Last year, we gave Salesforce the Big Buzz award and it moved well beyond that in 2014. but let’s just dive into it!

Los Angeles 101

Los Angeles Apple Risk Management California 101

Gonzobanker

NOVEMBER 18, 2014

After Retail Delivery had some mushy general sessions a few years ago, this is the second year in a row we have seen some provocative stuff on the main stage. Pointing to creating sales opportunities with branch traffic declines, Verba talked about the power of instant issue/replacement debit cards and 1 million gift cards issued a year.

Chicago 97

Chicago Retail Branch Design Training 97

PYMNTS

NOVEMBER 16, 2016

Unless it’s fraud you are talking about. At the end of 2014, the average U.S. But alongside that iPad your 10-year-old daughter needed, the rate of online fraud attacks on retailers has doubled, up 137 percent year over year in the first quarter of this year. Fraud attempts show that $7.30 The data is sobering.

Fraud 100

Fraud Retail Online Data 100

NCR

SEPTEMBER 15, 2017

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. Where it is prevalent, EMV has proven to be a highly effective method of preventing card-present/counterfeit card fraud. million in 2016.

Fraud 84

Fraud Cards Security US 84

PYMNTS

APRIL 22, 2016

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.

Fraud 100

Fraud Idaho Innovation San Francisco 100

PYMNTS

JUNE 23, 2020

In today’s top news, former Wirecard CEO Markus Braun was arrested Monday night over the firm’s recent accounting fraud scandal, and Airbnb’s CEO is again mulling a potential initial public offering (IPO). Verizon Debuts Visa Credit Card With Rewards. Plus, Amazon’s Big Style Sale runs this week.

Payments 159

Payments Survey Innovation Fraud 159

PYMNTS

MARCH 25, 2020

Digital fraud continues to flourish, with recent surveys finding that security breaches have increased 67 percent since 2014 and 11 percent since 2018. Organizations and security developers are investing billions of dollars in fighting these fraud attempts. Developments From Around the World of Digital Fraud.

Fraud 148

Fraud Security Resources Survey 148

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Fraud prevention tools. Virtual card issuance. Business lending and corporate cards. Broadly enabling online commerce. rate per transaction.

Online 98

Online Company Retail Payments 98

CFPB Monitor

MAY 12, 2021

The Durbin Amendment (Section 1075 of Dodd-Frank) authorized the Fed to issue regulations to ensure that the amount of any interchange fee received by a large debit card issuer (one with at least $10 billion of assets, together with its affiliates) is reasonable and proportional to the cost incurred by the issuer. In 2014, in NACS v.

North Dakota 78

North Dakota Cards Regulation Fraud 78

Javelin Strategy & Research

JUNE 2, 2015

As we discussed in MasterCard’s Security Matters , conventional wisdom indicates that card not present fraud will skyrocket as the United States shifts to EMV over the course of the next few years. Typically, this analysis is accompanied by analogies to balloons – as one end of the fraud “balloon” is squeezed, the rest expands.

Fraud 40

Fraud Cards United States US 40

PYMNTS

JUNE 22, 2016

In what is being considered the country’s biggest class-action lawsuit to date, the watchdog claims DNB charged customers roughly six times more to manage their funds over the course of 2010–2014, the Financial Supervisory Authority and the Norwegian School of Economics and Business Administration stated. District Court in Atlanta.

Atlanta 101

Atlanta Security New York Cards 101

PYMNTS

APRIL 13, 2018

7 million: The number of customers who have used Square P2P transfers as of December 2014. 81 percent: How much more common card-not-present fraud is when compared to point-of-sale (POS) fraud. trillion ($5.18T): Total value of Irish assets under management at the end of 2017.

Fraud 100

Fraud Cards Management Data 100

PYMNTS

FEBRUARY 16, 2018

The publication said the two individuals, Vladimir Drinkman and Dmitriy Smilianets, were involved in a computer hacking scheme that impacted 17 retailers in the U.S., The two were part of a larger group that stole online credentials, personal information and credit and debit card numbers between 2005 and 2012. While the U.S.

New Jersey 101

New Jersey Fraud Survey Cards 101

NCR

SEPTEMBER 7, 2016

Fraud continues to be a significant challenge for the financial services industry. Statistics from Synergistics showed 53 per cent of internet households that responded to an online poll reported they had previously suffered identity theft or fraud. The organization claimed fraud has risen 71 per cent over the last decade.

Fraud 40

Fraud Cards Study Software 40

PYMNTS

SEPTEMBER 22, 2016

1,500 : The number of babies claimed by SIDS in 2014. 12% : The average boost paying with Apple Pay gives unattended retail. 700 Million : The approximate number of chip cards in circulation in the U.S. 4% : JPMC’s predicted 2014 sales growth for the iPhone.

Millennials 100

Millennials Apple Mobile Fraud 100

Celent Banking

AUGUST 27, 2015

In my last post, I talked about the experience of using my credit card in the US, and how just inconsistent it feels. In some conversations we’ve had, there has been a feeling that US fraud is actually manageable at an industry level – a belief that they are in line or better than in many other countries. Whilst accounting for 21.4%

Fraud 100

Fraud US Cards Security 100

FICO

MARCH 27, 2017

Four years ago, we at FICO started saying it’s time for banks to upgrade fraud protection in their retail banking departments. As a company, we are pioneers in using AI and behavioral analytics to fight fraud. The post Same-Day ACH Requires AI-Powered Fraud Protection appeared first on FICO. Follow me @FraudBird.

Fraud 40

Fraud Compliance Cards Payments 40

PYMNTS

MAY 13, 2020

The 28 additions add significantly to the 150 token requestor partners that had been included in Visa Token Service through the years since the service launched in 2014. The bad actors are eyeing eCommerce and specifically card not present transactions as promising attack vectors.

Security 250

Security Cards Payments Data 250

PYMNTS

OCTOBER 26, 2018

Cyber frauds are a pervasive, significant and growing threat to all companies, including our public companies,” said SEC Chairman Jay Clayton at the time the report debuted. The South China Morning Post reports that the SFC has set up a form online through a page titled “Reporting corporate fraud and market misconduct.”

Washington 122

Washington Fraud Security Report 122

CB Insights

OCTOBER 10, 2018

Startups targeting retail and commercial banking have been emerging globally, spurred by favorable tech regulations, an uptick in mobile adoption, and shifting customer demographics. This year in the US, JP Morgan launched mobile banking app Finn and Goldman Sachs’ retail banking arm Marcus crossed 1.5M Incumbents Play Catch-Up.

Retail 78

Retail Cards Millennials Mobile 78

NCR

JULY 18, 2016

Card skimming continues to be a major problem for financial institutions (FIs) and consumers. Despite advances in technology, criminals still find innovate new ways to circumnavigate security measures and exploit the magnetic stripes on cards. While these cards are popular in Europe, adoption has been slower across the US.

Cards 40

Cards ATM Fraud Security 40

PYMNTS

JUNE 6, 2017

SigOpt now helps optimize fraud detection and investments like beer brewing and even the manufacturing of synthetic rhino horns. PYMNTS caught up with Clark to find out what sparked the grand idea to create startup SigOpt and how the company came to be a juggernaut of machine learning and fraud detection expertise.

Operations 168

Operations Tools Data San Francisco 168

PYMNTS

MARCH 24, 2016

When retail executives complain about the rising cost of labor, this isn’t usually what they mean. million through a debit card scheme. The complaint alleges that Chon made the first illicit foray into Toys”R”Us’ “Fleet Card” system in 2013 and then 116 more times until March 2016.

US 100

US New York City ATM New York 100

Fintech Labs Insights

APRIL 12, 2024

The last one, published in Jan 2014, featured 50 innovations (see below). I will update with milestones from 2014 to today and publish next month. Note: These are the rankings from 10 years ago. I’m taking suggestions here (so far: crypto, BNPL, earned-wage access, chatbots, deposit networks).

Innovation 15

Innovation Fintech Online Mobile 15

PYMNTS

DECEMBER 31, 2018

Retailer Hudson’s Bay got story started in early April with the disclosure that Saks Fifth Avenue and Lord & Taylor stores in North America had their payment cards compromised. The breach was believed to have seen 5 million cards compromised. According to early reports, the data breach impacted 0.5 Fitness Hacks.

Data 230

Data Security Tools Cards 230

PYMNTS

FEBRUARY 18, 2019

We had roughly 340 execs register to listen live to the two of us banter about the people, processes and tech necessary to do more than simply rebrand what’s typically described as the fraud and risk departments of digital platforms. percent of all retail sales to 6.4 percent of retail sales and 50 percent of all eCommerce sales.

Cards 169

Cards Course Study New York 169

Banking 2020

NOVEMBER 8, 2015

The card giant says shoppers will be able to use their contactless device for high value payments at all contactless terminals across Europe by 2017. But this is only available at certain retailers – MasterCard will make sure all contactless terminals are upgraded by 2017 so they can allow high value transactions.

Payments 40

Payments Fraud Cards Retail 40

Independent Banker

FEBRUARY 16, 2015

As card issuers and account providers, you know firsthand that the most successful attacks have occurred against the largest retailers. Those data breaches have resulted in record card reissue costs and other losses for community banks.

Community Bank 70

Community Bank Community System Security 70

PYMNTS

DECEMBER 4, 2018

These tourists, business travelers and others entrusted the Starwood hotel guest reservation database with details about their payment cards; home, work and email addresses; passport numbers and images; reward accounts and general travel habits. We don’t do the Hollywood anti-hero thing when it comes to fraud or hacking. Good for them!

Security 172

Security Strategy Data Cards 172

PYMNTS

NOVEMBER 8, 2017

Pundits prophesy a cashless society — and indeed, vast swaths of consumers are migrating to digital and mobile channels for many of their banking needs, as shown by a decline in the number of brick-and-mortar retail bank branches. One such advance has been the ability to transact without swiping a card.

ATM 126

ATM Strategy Mobile Millennials 126

PYMNTS

JUNE 24, 2016

When PandaLabs compared its version with earlier iterations of PunkeyPOS, some from as far back as 2014, it could see little operational difference between the versions. PandaLabs’ verdict?

Industry 101

Industry Pennsylvania Security System 101

NCR

APRIL 12, 2016

The arrival of chip and PIN cards was one of the biggest changes to consumer payments in a generation. Card spend up. New figures from the UK Cards Association show that the last ten years have seen a massive rise in consumers using electronic payments. But was EMV the cause of this rise in card spending?

Fraud 40

Fraud Cards Payments Industry 40

NCR

DECEMBER 20, 2015

On the other hand, just one per cent of consumers trust major retailers or telecom companies to protect their payments. Given the high profile data breaches at some of the largest US stores in 2014, it’s hardly surprising. According to Financial Fraud Action (FFA) UK, banks prevented £7 in every £10 of attempted fraud.

Payments 40

Payments Fraud Survey Security 40

NCR

DECEMBER 8, 2016

The arrival of chip and PIN cards was one of the biggest changes to consumer payments in a generation. Card spend up. New figures from the UK Cards Association show that the last ten years have seen a massive rise in consumers using electronic payments. But was EMV the cause of this rise in card spending?

Fraud 40

Fraud Cards Payments Industry 40