PYMNTS

OCTOBER 17, 2018

A new report from the Federal Trade Commission (FTC) says that fraudsters are increasingly requesting to be paid with gift cards, with some even asking for certain brands such as Google Play and iTunes gift cards. Google Play cards were not reported in significant numbers until this year.

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PYMNTS

MARCH 12, 2020

And according to Jennifer Schroeder, executive vice president of product management at PULSE, prepaid and payroll cards are proving increasingly popular among forward-thinking employers. The Security Angle. As has been reported, the platform can help issuers manage, or restrict, transactions across groups of compromised cards.

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PYMNTS

MARCH 18, 2016

Embedded digital security company Oberthur Technologies released on Thursday (March 17) the results of a survey showing that 80 percent of respondents would be more likely to use a MOTION CODE-enabled card over one that has a static and printed CVV code when shopping online.

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PYMNTS

SEPTEMBER 4, 2018

What does the future hold for the plastic payment card? Or will cards with cutting-edge technology win more loyalty from shoppers? Such questions are addressed in a new PYMNTS story that features an interview with Sebastien Clamagirand, general manager of secure payment and identity at NXP Semiconductors.

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PYMNTS

OCTOBER 15, 2019

Data from more than 26 million credit and debit cards was stolen from BriansClub, an underground marketplace for stolen credit card information, KrebsOnSecurity reported Tuesday (Oct. According to the leaked data, card information for sale on BriansClub showed a steady increase of inventory. In 2015, the website added 1.7

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PYMNTS

JULY 6, 2018

billion payment chip cards were shipped worldwide in 2017. While shipment volumes in China and the United States “continue to normalize,” contactless payment cards are more than 70 percent of shipments in “a growing number of territories,” the association said in an announcement. marking a twofold increase over 2014.

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PYMNTS

APRIL 12, 2018

Bank is mobilizing Mastercard commercial card products, the financial institution (FI) announced on Wednesday (April 11). Bank Corporate Travel Card said it will now support mobile payments for corporate customers using business travel cards that run on the Mastercard network. In a press release , U.S. According to U.S.

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PYMNTS

OCTOBER 27, 2016

billion on all credit, debit and prepaid general-purpose and private-label payment cards issued globally. percent in 2015, outpacing the growing global card volume. where issuers poured EMV cards into the market, merchants lagged in deploying terminals.”. 20.6% | The growth percentage of global fraud in 2015.

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PYMNTS

NOVEMBER 23, 2018

To counter fraud as the holiday season approaches, Best Buy , Target and Walmart made changes to their gift card programs. With the new policies, changes include lowering the transaction limits on the sale of store-branded gift cards. That figure rose from only 7 percent in 2015, which marked an increase of 270 percent.

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PYMNTS

SEPTEMBER 15, 2020

SBM Bank India , the Mumbai-based lender, and Mastercard have introduced a premium debit card for high-net-worth customers. It has also revealed the extreme disadvantage faced by shoppers and small businesses left out of the digital economy who need affordable financial products and services.

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PYMNTS

JULY 17, 2018

In recent years, payroll cards have run into controversy as lawsuits and lawmakers scrutinize fees that often come with the tool. The debate involves virtual cards and their use by insurers to pay healthcare providers. But, much like the payroll card debate, the legal questions around virtual cards also focus on fees.

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PYMNTS

JULY 27, 2016

Credit card fraud complaints in the U.S. saw the biggest increase in 10 years in 2015, with the number rising by 41 percent. ValuePenguin analyzed data collected by the Consumer Financial Protection Bureau and found that there were approximately 70,000 credit card fraud complaints submitted in 2015. Across the U.S.,

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PYMNTS

DECEMBER 20, 2018

has lowered its security deposits that go to Visa and Mastercard, reported RT.com. According to a report in RT.com , the move is being taken by converting domestic banking transactions to Russia’s payment system MIR, which it launched in 2015. Promsvyazbank, the Russian state bank that was hit by sanctions by the U.S.,

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PYMNTS

JULY 11, 2017

More CFOs are guiding their organizations toward corporate cards in lieu of offering after-the-fact reimbursements via expense reports, The Wall Street Journal recently reported. Research suggests companies are turning to corporate cards for their security as well.

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PYMNTS

MAY 4, 2016

Bluefin Payment Systems, which offers point-to-point encryption (P2PE) solutions to several industries, including retail and health care, said on Tuesday (May 3) that it will also add the Visa Data Secure Platform (DSP) to its portfolio, through its Decryption-as-a-Service P2PE Solution.

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PYMNTS

APRIL 20, 2017

The malware looks to have been designed to steal guests’ payment card information. The investigation has since found that the malware was created to look for track data from the magnetic stripe — information like card numbers, expiration dates, verification codes and occasionally cardholder names. up 40 percent from 2015.

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PYMNTS

JUNE 24, 2016

Global technical body EMVCo has released its updated report on the number of EMV chip payment cards, saying that the figure has increased 1.4 That brings the total at the end of 2015 to 4.8 percent of all card-present transactions conducted globally between Jan. percent of card-present payments. billion across the world.

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PYMNTS

MAY 4, 2016

According to researchers, small businesses lost an average of more than $12,000 in 2015 due to back-office fraud. That can mean fraudulent payments made using a business credit card, a compromise of payroll systems or unauthorized ACH and wire transfers. A new report from JAVELIN has uncovered the price of being an easy target.

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PYMNTS

MARCH 1, 2019

When credit cards first debuted in 1920s America,they brought with them myriad benefits. For instance, prior to a law passed by Congress in the mid-1970s, companies could mail consumers activated credit cards without their consent. Security strategies. in 2015 and were used in most of the country’s banks by 2016.

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PYMNTS

JUNE 1, 2020

Capturing and then enabling card-on-file payments when consumers buy the products or services they consume in the physical world. Part of that includes reminding consumers to use their contactless cards when they check out in their stores (if they have one) or their mobile wallets (if they choose). Uber and Starbucks pioneered it.

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PYMNTS

OCTOBER 17, 2018

between 2012 and 2015, surpassing growth in noncash payments, the Federal Reserve found. billion in 2015 from $6.1 The Federal Reserve said in a press release that the fraud data was collected as part of surveys of depository institutions in 2012 and 2015 and payment card networks in 2015 and 2016. billion in 2012.

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PYMNTS

FEBRUARY 3, 2017

Consumers might have felt a bit safer using their credit card with the introduction of EMV chip technology, but thieves looking to steal your information have managed to find a way to still gain access to PIN numbers, as well as your card’s chip in some cases. The majority of that theft was from credit cards.

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PYMNTS

MARCH 21, 2017

Bank will enable its corporate customers to use their commercial cards via the mobile Apple Pay , Android Pay and Samsung Pay solutions, reports said Monday (March 20). According to the bank, this makes it the first to support mobile payments for Visa commercial card transactions. Bank corporate card customers.”.

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PYMNTS

MARCH 8, 2016

According to reports , FairFX Group secured nearly $7.5 The company, which provides businesses and customers with travel cash and card payment solutions, said it would use the funds to move forward in the corporate travel and global payments arena. “As According to reports, FairFX reported 32 percent annual turnover growth in 2015.

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PYMNTS

JUNE 21, 2016

The company notes that the credentials may have been breached by a third party between the dates of May 12, 2015 and April 28, 2016. The company noted that the breach has been reported to its credit card processor along with federal law enforcement officials.

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PYMNTS

JULY 17, 2018

Since the migration to EMV in the largest card market in the world (the U.S. in October of 2015), the incidences of counterfeit card fraud at chip-enabled merchants have fallen sharply — some 76 percent, as reported by card networks. Sometimes the cards are ancillary to a different criminal purpose.

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PYMNTS

FEBRUARY 2, 2017

Sift Science has just released its latest research on how businesses combat security threats, and its report, published last week, offers insight into how the issue of cybersecurity takes many shapes within the enterprise. Wishful Thinking.

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PYMNTS

JULY 14, 2016

Payments security is usually not a wellspring for belly laughs. In June, the company said that it is launching the next phase of its Security Pays initiative , which traces its genesis to August of last year and, at present, includes more than 1,000 of Vantiv’s partners around the United States.

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PYMNTS

MAY 30, 2019

Visa said this week that as acceptance of EMV cards has gained traction in the U.S., counterfeit fraud, measured in dollars for these card present transactions, has dropped precipitously. EMV” is shorthand for Europay, Mastercard and Visa chip cards. storefronts now accept chip cards, according to the data.

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FICO

MAY 9, 2019

Congratulations to UBS Card Center on winning the Security Innovation of the Year award at the Retail Banker International Awards. UBS Card Center processes roughly 25 percent of all credit cards in Switzerland. The post UBS Card Center Wins Security Innovation Award with FICO AI appeared first on FICO.

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Independent Banker

AUGUST 31, 2016

As chip cards become standard, counterfeit card fraud in the U.S. Here are five ways to fight fraud in the wake of the widespread deployment of EMV chip cards. Card-not-present fraud will likely rise, especially online. When you send out a new card, include clear activation instructions. By Terry Dooley.

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PYMNTS

NOVEMBER 13, 2020

The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem. million) since 2015, with 483 incidents being reported in June alone.

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PYMNTS

SEPTEMBER 29, 2017

The EU’s PI licensing requirements are especially stringent, with strict requirements on PI infrastructure, shareholder qualifications, Know Your Customer (KYC) and AML policies and information security programs. To date, only 10 companies have obtained the license in Luxembourg.

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PYMNTS

MARCH 1, 2016

29) that it has brought on board Amazon’s former chief security officer, Tom Killalea. WSJ noted that “especially valuable” is Killalea’s experience within the customer service arena, with security complementing expansion efforts by Capital One into data usage and software development, among other areas.

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PYMNTS

DECEMBER 28, 2016

Payments 2016: The Year Of EMV-Enabled Cards. While the EMV liability shift took place in October 2015, many of the effects of that shift were felt throughout 2016. At the transaction level, consumers began to feel like they were more protected from fraud with the introduction of the EMV chip card. Best of Times.

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PYMNTS

APRIL 28, 2016

is soaring the global demand for smart payment cards by as much as 34 percent, a new Smart Payment Association (SPA) report has found. billion chip cards were supplied — of which, 570 million were shipped to the U.S., These figures demonstrate how EMV is now a truly global, established, secure and interoperable infrastructure.

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PYMNTS

DECEMBER 7, 2017

The Federal Reserve had a payments study issued in 2015 that did not tally fraud, but only discussed it subjectively, perhaps as the data may have proven disheartening. And though the web may offer convenience, it offers not much in the way of security. Studies abound on the impact of payments fraud, said Volmar.

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