Gonzobanker

AUGUST 3, 2023

The time has come for some truth on the world of payment card flips. disrupted banks’ income on debit cards. had in 2011, they’re likely to see an 18% to 25% volume shift from signature to PIN card transactions by the end of 2025. And the threat of disruption on credit cards looms large.

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Cards Payments Branding ATM 145

FICO

FEBRUARY 16, 2023

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

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Cards US Data Fraud 98

PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. Debit And The Fraud Catch .

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BankBazaar

JANUARY 25, 2024

What have your Credit Card ’s ancestors been up to? There’s probably nothing new we can tell you about the Credit Card. Today, we’re aiming at remedying that, so we’re all left with a new-found respect for our spend-friends and who knows, maybe it’ll just inspire us to go find the right Credit Card to fit our finances!

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Cards Tools ATM Management 78

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.

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PYMNTS

NOVEMBER 8, 2017

In fact, many customers, regardless of age, desire a personal relationship with a financial manager, illustrating a shift in how branches are typically used. Since smartphones haven’t learned how to print paper money, people still must turn to ATMs for that. In fact, the number of ATMs in the U.S. The ATM Opportunity.

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ATM Strategy Mobile Millennials 126

PYMNTS

NOVEMBER 30, 2020

Shoppers may be reluctant to hand over their card details to every online retailer, as each transaction represents another risk that consumers’ information could be exposed in a breach. Virtual Card Payment Trends. Merchants’ efforts to please shoppers have ushered in a wave of virtual card activity in recent months, Knutson said.

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Cards Security ATM Data 151

PYMNTS

JANUARY 30, 2020

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. Card fraud is an ever-present threat. Around The Next-Gen Debit World.

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FICO

MARCH 30, 2023

I will sheepishly admit that since post-COVID travel has picked up again, I’ve found myself traveling with physical card or two crammed into my minimalistic ID-holder, just for rare cases where digital won’t work. Both from a cash and a fraud perspective, my curiosity was piqued, and I fell down the rabbit hole to learn more.

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FICO

NOVEMBER 24, 2020

As many of us who have long been in the industry know, fraud remains a top challenge for debit cards. billion in gross (attempted) debit card fraud and ultimately incurred losses of over $1 billion on debit and ATM transactions; the need for an effective solution to this problem has never been greater.

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PYMNTS

NOVEMBER 12, 2019

PULSE , the debit/ATM network that operates as a Discover Financial Services company, said in a press release that it has adopted the FICO Falcon Platform to bring new fraud detection services to its network of more than 4,100 debit issuers. billion debit card transactions in 2018. percent in 2017 to 6.7 billion transactions.

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Independent Banker

NOVEMBER 13, 2014

It’s called ATM cash-out fraud, and it’s a new data security threat where physical attacks and cyberattacks converge. Earlier this year, federal regulators warned financial institutions against criminal attacks on their ATM systems. Current Tech. By Maria Korolov. That will help make sure that the system is pristine.”.

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ATM System Management Kansas City 93

PYMNTS

JANUARY 9, 2020

Edenred is acquiring Mint ’s payroll card portfolio to bolster its leadership in the United Arab Emirates (UAE), Edenred announced Thursday (Jan. Mint is the second-largest company handling pay distribution and management for under- or unbanked UAE workers. Edenred’s operations focused mainly on Dubai.

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PYMNTS

JUNE 30, 2017

FIS, the financial services technology, and Cardtronics, the ATM owner/operator, announced Thursday (June 29) plans to integrate FIS Cardless Cash access across Cardtronics’ ATM fleet in the United States. With the technology, consumers can access their funds and authorize how much to withdraw without needing a physical card.

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ATM Technology United States Security 117

FICO

MARCH 18, 2020

As I recently blogged , the use of prepaid cards is growing, in forms ranging from one-time gift cards to reloadable payment mechanisms for benefit distribution. Together, these factors can allow MLSC models to deliver robust fraud detection in heterogeneous transaction environments. Prepaid models US Prepaid and GIM Prepaid 1.0

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FICO

MARCH 7, 2018

As FICO reported today, there was a 10% increase in the number of payment cards compromised at U.S. ATMs and merchants in 2017. The number of compromised card readers at U.S. ATMs, restaurants and merchants rose 8%. But the growth curve in ATM fraud is flattening out. Protecting Customers from ATM Fraud.

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Payments Source

JULY 5, 2016

By October of this year, ATM owners in the U.S. have to replace or upgrade their machines to accept chip cards or face liability for certain types of fraud.

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ATM Cards Fraud Operations 68

PYMNTS

MAY 31, 2017

Debit cards, default cards, banks both bricks-and-mortar and digital. That brings up some questions for banks: What are the opportunities for banks with debit, and with branches, and even with ATMs? That brings up some questions for banks: What are the opportunities for banks with debit, and with branches, and even with ATMs?

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ATM Millennials Cards Management 100

FICO

NOVEMBER 26, 2019

With new scams on the increase, FICO’s fraud experts have added new tips for staying safe and avoiding fraud, taking the total to 16. Take Care at ATMs. If an ATM looks odd, or your card doesn’t enter the machine smoothly, consider going somewhere else for your cash. Getting Smarter in the Fight Against Fraud.

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FICO

OCTOBER 12, 2016

As the US payment card infrastructure continues to move to EMV, fraudsters are turning their targets toward unattended self-service terminals, such as US ATMs, most of which have not yet been upgraded to read EMV chips. Globally, the European ATM Security Team reported a 19% increase in ATM-related fraud attacks from 2014 to 2015.

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FICO

MARCH 9, 2020

has become a prepaid card store, with rows and rows of gift and other prepaid debit cards on display. In April 2019 The Wall Street Journal reported , “The total amount loaded on general-use prepaid cards in the U.S. This is almost identical to the existing fraud protection provisions for credit cards.

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FICO

AUGUST 31, 2017

While data breaches and ransomware grab the headlines, we’re still seeing fraud growth due to ATM compromises in the US. The fraud growth rate has slowed down from the gangbusters surge we saw in 2015, but consumers and issuers still need to pay attention. Never approach an ATM if anyone is lingering nearby.

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FICO

MARCH 1, 2022

Fiserv, a leading global provider of payments and financial services technology solutions, has developed a new fraud mitigation service that has reduced fraud losses, which were already low by industry standards, by 10 to 15% for its small to midsize credit union and bank clients. Keeping Up With The Fraudsters.

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PYMNTS

MAY 19, 2016

ATM skimming just got taken to the next level. Kaspersky Lab announced new research regarding a hacker collective, known as the Skimer group, that uses malware to essentially make an ATM steal users’ money. Instead of putting skimmer devices on the ATM, this group makes the entire ATM a skimming device.

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PYMNTS

MAY 9, 2018

CO-OP Financial Services said Tuesday (May 9) that it is releasing fraud-fighting tools for its client credit unions, a move that would beef up the role of artificial intelligence in helping those financial institutions become more secure. COOPER is not the only recent financial services enhancement introduced by CO-OP.

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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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Cards Fraud ATM Maine 100

PYMNTS

FEBRUARY 10, 2017

Just when payment card data seemed somewhat protected by EMV technology, hackers have found yet another way to steal information and gain access to PINs. As Datablink CEO Alex Cagnoni pointed out, card cloning devices are not something new; however, with the use of a chip, the attack has become more complex but still quite effective.

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PYMNTS

MAY 29, 2020

We have deep dives on Main Street’s digital shift, ATM innovation and PPP loans. Innovating The ATM Beyond Cash. FIs need to have the ability to find and thwart fraud, without accidentally sweeping up legitimate clients. The Flaw In Demonizing Big Tech. How To Keep Fraudsters From Scamming Banks Across Every Nook And Channel .

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FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Few things change faster in the financial services space than fraud trends. FICO Admin.

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PYMNTS

FEBRUARY 4, 2020

Not willingly – unless you use a credit card at the POS terminal, that is, in which case you’ll pay the retail price plus 21 percent. Multitudes of Americans woke up and wised up to the true nature of credit after the Great Recession, driving a surge in the use of debit cards. Would you pay interest on a cup of coffee?

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Millennials Fraud ATM Cards 131

PYMNTS

JANUARY 31, 2020

We have deep dives into virtual card adoption and self-service technology, as well as a report on Kobe Bryant’s legacy. Bank Is Doing to Drive Virtual Card Adoption. Accounts payable (AP) professionals and vendors still have reservations about adopting virtual cards despite their many benefits. Trackers and Reports.

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Insights on Business

NOVEMBER 22, 2017

The same technology that has helped change the world of payments has also fueled fraud complexity, requiring an increasingly sophisticated anti-fraud response – payments fraud has become a €20Bn ($23Bn) worldwide problem for financial institutions while the fraud detection and prevention market will be worth €28.49Bn ($33.19Bn) by 2021 [1].

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Fraud Payments Innovation Industry 125

Gonzobanker

SEPTEMBER 21, 2023

Treasury management provider Dragonfly Financial Technologies launched independently from an ACI Worldwide sale. NCR announced plans to separate into two independent, publicly traded companies: NCR Voyix , focused on digital commerce, and NCR Atleos , focused on ATMs. Jack Henry expanded its partnership with SMA Technologies.

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ATM Marketplace

SEPTEMBER 14, 2017

By enlisting bankcard holders in the fight against fraud — effectively crowdsourcing fraud management — card issuers can achieve an added layer of security at a very low cost, while cultivating a more loyal and trusting customer base.

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PYMNTS

OCTOBER 20, 2017

Citibank has announced news that customers can now utilize the popular Citi Quick Lock feature on their debit cards, enabling them to quickly temporarily freeze their card in order to protect their bank accounts. Customers can easily lock their debit cards online or via Citibank’s mobile app if a card is misplaced.

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Cards User Experience Mobile ATM 108

PYMNTS

OCTOBER 20, 2016

million debit cards in India will either have their security codes changed or their cards swapped out wholesale due to concerns that the data may have been breached in one of the nation’s biggest security incidents ever. million cards, the majority are on the Visa or Mastercard platform — 2.65 As many as 3.25

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NCR

FEBRUARY 17, 2017

That includes growth areas like mobile banking, of course, but also covers traditional cornerstones of retail banking like the ATM. Why the ATM is key to omnichannel. According to Retail Banking Research , the number of ATMs worldwide rose by five percent to 3.2 million in 2015. A driver of change.

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ATM Mobile Strategy Fraud 85