PYMNTS

JULY 3, 2020

Financial institutions can keep customers safe by accurately determining when attempted transactions are legitimate versus when they are being made by fraudsters who have stolen customers’ cards or taken over accounts. Defending Agains Fraud During Periods Of Reopening . Reopenings could also lead to rises in certain kinds of fraud.

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PYMNTS

AUGUST 26, 2019

The phenomenon of payments fraud is not a modern one — far from it. But as RL Prasad, SVP of payment system risk at Visa , told Karen Webster in a recent conversation, what is new today is the who and the how of fraud, particularly in a digital world.

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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. retailers have digital oversights that leave them vulnerable to attacks.

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PYMNTS

JANUARY 11, 2021

To that end, late last week Equifax said it had reached a deal to acquire fraud prevention and digital ID firm Kount for $640 million. As reported, the deal will enable Equifax to boost its global presence in digital ID and fraud prevention, including through the Kount Identity Trust Global Network. In a Monday (Jan.

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PYMNTS

OCTOBER 30, 2020

Card-skimming devices hidden on gas station card readers or carefully integrated into ATMs used to be especially troubling for merchants and consumers, but retailers and financial institutions (FIs) have stepped up their measures to protect physical card readers in recent years. Safeguarding Card Details.

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PYMNTS

DECEMBER 16, 2019

’Tis the season for corporate fraud? the FBI recently issued a warning for holiday shoppers of a new scam called eSkimming , in which cyber criminals hack into legitimate online retailer websites to steal shoppers’ credit and debit card details. In the U.S., In the U.S., More on that below.).

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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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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. Netspend observed many more of its prepaid card customers activate virtual wallet capabilities during the pandemic.

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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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FICO

APRIL 29, 2022

There’s a lot going on in the retail payments space – defined as transactions between two consumers, between consumers and businesses, or between two businesses. With any change, fraud comes hand-in-hand. Other changes are centered on the challenges of bank and ATM closures limiting consumer access to cash.

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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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Independent Banker

OCTOBER 31, 2022

ITMs and VTMs are popular retail banking innovations among community banks. What’s on the horizon for retail banking? According to a new report from PwC titled “Retail Banking 2025 and Beyond” (see sidebar), the retail banking industry is undergoing tremendous change—but, of course, community bankers already know that.

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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. Since smartphones haven’t learned how to print paper money, people still must turn to ATMs for that.

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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

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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PYMNTS

JANUARY 18, 2017

The National ATM Council (NAC) argued in testimony to the Committee on Consumer Affairs of the New York City Council last week that a proposed ordinance would impose costly and burdensome new security regulations on ATM operators all around the city. said Renard in the same press release. “In said Renard in the same press release.

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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. models are available to clients using the FICO Falcon Platform , and the MLSC technology is also used in our Retail Banking DDA models. . Dealing with Multimodality.

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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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PYMNTS

OCTOBER 18, 2019

Mastercard is collaborating with four eCommerce retailers — WHSmith.co.uk, Funky Pigeon, Cult Pens and The Card Gallery — to offer the Pay by Bank app to online shoppers, Mastercard announced in a press release on Friday (Oct. s real-time and batch payments, direct debit bill pay systems and the country’s network of nearly 70,000 ATMs.

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PYMNTS

JANUARY 9, 2020

The shift from magnetic stripe to EMV chip cards marked one of the 21 st century’s most widespread payment developments. Chip cards have been heralded for their improved functionality and security, but they have still failed to address critical authentication problems, leaving retailers to bear the brunt of these vulnerabilities.

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Fraud Cards Retail Security 131

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. Retailing 2020: Five Things To Watch. Retail Reopening Hinges On Dangerous Discounts.

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NCR

SEPTEMBER 2, 2016

The belated introduction of EMV technology to the US payment industry is currently having a major impact on how merchants, payment providers and other stakeholders in the financial industry approach fraud. But what about the impact of EMV in other areas, such as the ATM. The impact of the shift. The effect on skimming rate.

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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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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

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. That the pandemic has been a fraudster’s playground is not in doubt. Where consumer spending goes, thieves follow.

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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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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.

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PYMNTS

MARCH 8, 2019

At the same time, new technologies such as biometrics are emerging in the fight against fraud. And an initiative tied to a consortium of companies is looking to redefine how automated teller machine (ATM) applications are built and used. 579 million: The number of biometric cards that will be in use by 2023.

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ATM Regulation Fraud Data 189

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.

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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. Image: iStock/Piranka.

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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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FICO

AUGUST 24, 2021

As a fraud professional, you may feel as though your organization walks a tightrope, balancing minimal customer friction with maximum risk mitigation. Doug: That sounds a lot different than, “Is this credit card transaction fraudulent?”. You’re not alone. That’s the challenge that contextual intelligence promises to help cut through.

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PYMNTS

DECEMBER 20, 2016

Unattended retail will be a $275 billion-a-year industry in three years. Once the purview of soda machines and candy dispensers, the unattended environment now includes everything from non-bank ATMs to parking kiosks to coffee machines to fancy vending machines that dispense electronics and even cars.

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NCR

NOVEMBER 21, 2017

Falling on the day after Thanksgiving, this perennial retail extravaganza marks the beginning of the traditional Christmas shopping period for consumers. Shoppers all over the world are drawn in by the many special offers advertised by retailers. The role of cash and ATMs. billion will be dispensed from ATM s in just one day.

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PYMNTS

FEBRUARY 28, 2020

million internet users in Latin America, at 69 percent of the total population, and where digitization of the population expands the potential for threats, especially as retail eCommerce has topped $50 billion. “As Carding” is also a fraudster favorite, according to the report. IntSights reported that there were 453.7

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PYMNTS

MAY 30, 2016

It’s also a good theme for taking a look at the news of last week, namely MasterCard fueling a robot-inspired automated restaurant future, Wells Fargo mobilizing payments and a communal approach to preventing payments fraud. Sharing data is the first step toward true fraud prevention , he emphasized. MasterCard Automates With Pepper.

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Retail Fraud Mobile Data 100

NCR

AUGUST 4, 2016

The belated introduction of EMV technology to the US payment industry is currently having a major impact on how merchants, payment providers and other stakeholders in the financial industry approach fraud. But what about the impact of EMV in other areas, such as the ATM. The impact of the shift. The effect on skimming rate.

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