PYMNTS

APRIL 24, 2020

As Thorness explained, their embrace of ACH processing technologies is likely to have far-reaching impacts into how they send and receive payments with government suppliers, too, particularly as ACH innovation accelerates. ” Accelerating ACH Innovation. “There is a great emphasis on data security,” he said.

Innovation 161

Innovation Payments System Data 161

PYMNTS

OCTOBER 8, 2020

Mobile ordering services, advanced drive-thrus and customer safety and security are the top customer priorities for restaurants amid the pandemic. Research reveals that drive-thru visits increased 26 percent in the second quarter of 2020 and that such visits accounted for 42 percent of all restaurant visits during this time.

Innovation 141

Innovation Fraud Mobile Security 141

PYMNTS

JANUARY 19, 2021

Fraudsters have unfortunately also carefully followed this payment trend, with skimming, prepaid card and ATM fraud all seeing upticks recently — especially in regard to debit transactions. Bad actors have exploited these flaws to steal $2 billion to date, representing 2 percent of the $110 billion in claims the state sent out in 2020.

Fraud 155

Fraud Tools Mobile North Carolina 155

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). Airbnb CEO Sees Potential For 2020 IPO Amid Bookings Rebound. NEW DATA: How Credit Unions Are Innovating To Help Micro Businesses.

Payments 159

Payments Survey Innovation Fraud 159

PYMNTS

JANUARY 16, 2020

However, to do so, these companies will need to make some adjustments to their fraud protection strategies. Implementing a layered anti-fraud approach that utilizes several technologies could help protect against bad actors looking for vulnerabilities. The Latest Fraud Decisioning Developments.

Fraud 133

Fraud Tools Data Industry 133

PYMNTS

SEPTEMBER 19, 2019

small business market (SMB) will reach $9 trillion by 2020, but also notes that 80 percent of SMBs still use paper checks to make payments. A majority (55 percent) of corporate professionals identified real-time payments as their top B2B payment service priority, according to the Real-Time Payments Innovation Playbook.

Innovation 134

Innovation Payments Phoenix Security 134

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

Conference 195

Conference Payments Fraud Data 195

PYMNTS

OCTOBER 28, 2020

PSCU , the credit union service organization (CUSO), is teaming up with FICO Customer Communications Services (CCS) to develop a fraud alert tool for credit unions (CUs), PSCU said in a statement on Wednesday (Oct. In the event of possible fraud, members are alerted quickly and securely using their preferred method of communication.

Fraud 109

Fraud Tools Security Analytics 109

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

Fraud 110

Fraud Security Retail Tools 110

Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. An increase in financial crime and fraud against the elderly is expected to continue to climb as the baby boom population (those born before 1964) age. The under-reported and growing crime.

Fraud 284

Fraud Study United States Training 284

PYMNTS

FEBRUARY 21, 2019

By 2020, there will be an estimated 26 billion Intelligence of Things (IoT)-connected devices active around the world. That said, IoT device creators and consumers are looking at IoT security with a higher level of scrutiny. Alias Creators on Security, GDPR and Data as the New Oil. Around the IoT World. About the Tracker.

Security 180

Security Data Conference Regional 180

PYMNTS

DECEMBER 24, 2020

Consumers, in short, entered spring 2020 realizing that their old, largely physical habits for feeding themselves were a bad fit in a world where proximity between themselves and strangers was frowned upon as a public health liability. Digital Innovations Will Outlast the Pandemic That Inspired Them. Paytronix CEO Andrew Robbins.

Study 206

Study Industry United States Innovation 206

FICO

JANUARY 5, 2021

It’s no surprise that COVID-19 would be one of the subjects that drew readers to the FICO Blog last year, but for the Fraud Protection and Compliance category it wasn’t the only top draw. Two of our top five posts focused on digital transformation innovations in biometrics and customer identification.

Fraud 52

Fraud Compliance Survey Google 52

FICO

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

Fraud 98

Fraud Survey Customer Experience Retail 98

PYMNTS

NOVEMBER 20, 2019

Much of what commercial card innovators seek to address is a massive pain point for adoption: supplier acceptance. However, in this week’s Commercial Card Innovation roundup, it wasn’t the point of friction that technology firms were addressing. Check out the latest in corporate card innovation below.

Cards 155

Cards Innovation Fintech Payments 155

FICO

MAY 18, 2023

The innovative pay-as-you-go solution allows Dock’s clients, including banks, fintechs, and retailers, to intercept fraudulent transactions and protect their operations, while also improving the user experience. The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS).

Fraud 52

Fraud Technology social media Innovation 52

PYMNTS

MARCH 25, 2019

federal government tries to stem fraud and other losses in benefit programs, a new mobile app might just provide a way to do that. 35 billion: Estimated number of connected IoT devices in use by 2020. As the U.S. While that happens, the payments industry is upping its game against counterfeit goods sold online.

Innovation 148

Innovation Fraud Regulation Data 148

PYMNTS

MARCH 30, 2017

Mastercard announced that it has entered into an agreement to acquire NuData Security, a global technology company that helps businesses prevent online and mobile fraud using session and biometric indicators. The addition of NuData will build on our layered security strategy to safeguard each and every transaction across the globe. “The

Security 100

Security User Experience Fraud Online 100

PYMNTS

JUNE 22, 2017

Fighting fraud is a lot harder online, and a lot harder for merchants and consumers, as card-not-present transactions become the preferred method of malfeasance. In one recent announcement, payments provider TSYS and real-time learning technology platform Featurespace said they were joining forces to offer fraud prevention tools.

Fraud 162

Fraud Tools Cards Online 162

PYMNTS

JANUARY 17, 2020

This increasingly sophisticated group poses a growing and costly headache to those who value the model, forcing businesses to spend billions on fraud-fighting technologies. Preventing fraud with seamless and secure onboarding solutions is key. million fraud reports in 2018, resulting in $1.48 trillion a year.

Security 130

Security Fraud blockchain Cards 130

PYMNTS

JANUARY 28, 2021

PYMNTS recently reported Federal Trade Commission (FTC) figures finding, “More than 200,000 Americans were scammed out of $145 million relating to the pandemic since the beginning of 2020.” This development comes as 68 percent of fraud experts report increases in cybercrime over the past year.”. Quick And Seamless Security.

Fraud 244

Fraud Survey Digital Banking Security 244

PYMNTS

JUNE 27, 2017

He also offers advice for how to innovate in the field. Here is an excerpt of the conversation: PYMNTS: How would you define your company’s approach to innovation? PYMNTS: Where do you look for innovative ideas, and why? PYMNTS: What is the most innovative thing you’ve ever done? JB: Innovation often means taking a risk.

Innovation 145

Innovation System Mobile Trends 145

PYMNTS

FEBRUARY 24, 2020

Restaurants that do not adopt these services risk falling behind, with a recent survey finding that restaurants without delivery apps could lose up to 70 percent of their customer base by the end of 2020. But even restaurants that are leveraging mobile ordering are being faced with more avenues for fraud to enter.

Data 214

Data Fraud Mobile Florida 214

PYMNTS

FEBRUARY 4, 2020

Growing concerns about online security, fraud and infrastructure costs intensified in the period after the rollout, and generated ongoing questions over the safety of the API-driven Open Banking platforms developed to comply with PSD2 and GDPR. SCA Questions Stall Innovation. Security Concerns Mount . France, the U.K.

Fraud 144

Fraud Regulation Compliance Innovation 144

PYMNTS

JULY 17, 2020

Financial institutions and merchants that are hypervigilant with security will be rewarded with loyalty. The following is an excerpt from How 35 Execs Are Powering The Great Digital Shift Of 2020 (And Beyond) , contributed by Brad Wiskirchen , CEO at Kount. Lasting Lessons: AI-Driven Fraud Protection Across the Customer Journey.

eBook 222

eBook Customer Experience Fraud Mobile 222

PYMNTS

JANUARY 14, 2021

The pandemic drastically altered consumers’ shopping habits and retailers’ strategies for getting customers the items they needed during the 2020 holiday season. The most common type of fraud we actually see is just the same type of fraud that you find in a regular brick-and-mortar retail environment,” she explained. “The

Fraud 143

Fraud Miami Security Retail 143

PYMNTS

AUGUST 9, 2019

million for the quarter, but Bottomline remained confident in growing revenues for FY 2020 thanks to new customer sign-ons that have yet to go live. We had notable customer wins across our banking and business payments platforms as customers continued to choose Bottomline for innovative and highly secure business payments solutions.

Data 134

Data Analytics Digital Banking Cards 134

FICO

MARCH 9, 2022

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space.

Customer Experience 59

Customer Experience Survey Fraud Cards 59

PYMNTS

JANUARY 1, 2021

If 2020 was the year of streaming media, of content done a million different ways, of apps and Apple, and Google’s and Amazon’s algorithms … it was also the year of Big Tech regulation, where 2020 set the stage for a 2021 that could be seismic in changing the way companies — from Facebook to Apple to debt collectors — interact with consumers.

Regulation 352

Regulation social media Course Apple 352

Insights on Business

JUNE 3, 2019

Because of this, traditional rules-based fraud detection systems have become outdated and no longer work. Today, real-time payments require real-time fraud detection. Modern payment fraud schemes require modern prevention. Data-science-project-turned-fraud-prevention-solution vs. purpose-built-fraud-prevention-solution.

Fraud 138

Fraud Data Payments System 138

Bank Innovation

AUGUST 16, 2018

A study released today by research firm Aite and Early Warning, owner of the bank-based P2P firm Zelle, found that P2P payments will triple by 2020. alone, Aite projects “over 300% growth from 2015 to 2020—from $100.3 In the U.S. billion to $316.6 billion” […].

Fraud 186

Fraud Payments Study Operations 186

PYMNTS

JANUARY 22, 2021

Were it not for a flurry of digital transformation all through 2020 the frightful fraud scene might’ve been worse. retailers have online system vulnerabilities that could leave them open to fraud. Sensible Debit Needs To Be More Secure . In one 2020 study conducted by PYMNTS, 55 percent of U.S.

Fraud 130

Fraud Study Cards Security 130

PYMNTS

OCTOBER 1, 2019

where at least one vital and robust sector of commerce has yet to adopt the global security standard en masse. 1, 2020 — at one point, the deadline was in 2017. That’s the case, even as news of fraud can regularly remind one of how easy it can be for criminals to install card skimmers at pumps to facilitate theft.

Innovation 167

Innovation Customer Experience Retail Operations 167

PYMNTS

OCTOBER 31, 2016

With fraud expected to hit $7.2 billion by 2020, companies — particularly eCommerce retailers — are considering mobile and online innovations in payments and IoT security technology to help thwart cyberattacks. According to LexisNexis research, card-not-present fraud losses alone are forecasted to increase by $3.2

Fraud 100

Fraud Security Retail Mobile 100

PYMNTS

DECEMBER 20, 2019

We have a deep, data-supported dive on fighting fraud with artificial intelligence (AI), an outlook on seven 2020 trendlines and news on gas station cyberattacks. How Grocery Retail Will Evolve In 2020 . What’s Next For Payments In The Next Decade: The Seven 2020 Trendlines.

Fraud 100

Fraud Trends Payments Retail 100

PYMNTS

MAY 10, 2019

Among the highest ideals for digital payments – driving innovation in transactions and customer experience – is, of course, the concept of seamlessness. That implies an ease of use while giving up nothing when it comes to security. Quick, Secure Validation. New NACHA Rule. How much effort will that require, then?

Payments 178

Payments Fraud Security Customer Experience 178

FICO

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

Fraud 52

Fraud Survey Customer Experience Retail 52