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Visa: EMV Cuts Card-Present Counterfeit Fraud By 80 Pct

PYMNTS

Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. Merchants who have upgraded to chip technology saw a decrease of 80 percent in counterfeit fraud dollars in September of 2018 when compared to September of 2015. More than 3.1

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Why Mexico’s SMBs Need A FinTech Operating System And Not Another Bank

PYMNTS

Consider the fact that in Mexico it can take four to six months to open a business account — and as much as a year to get access to a debit card. As Poovala told Webster: “We had to get a debit card by actually creating our own startup. It’s been 20 months, and we tried to get a debit card from some of the largest banks.

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Merchants, Online Fraud And The 3DS 2.0 Reset

PYMNTS

That] keeps them from getting in trouble with the card brands, and obviously avoids the significant costs that come along with fighting, investigating and resolving chargebacks. When the card networks first started mandating EMV, McCutcheon said, there was heavy resistance. They’re in a better position to mitigate the fraud.

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How False-Positives Complicate The B2B Payments Fraud Fight

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Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. But ramping up the war on card fraud can introduce a new risk to companies: false positives. This isn’t merely an issue for the B2C world, however. The False Positive Threat.

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Venmo Payment Fraud Led To $40M In Losses

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Venmo , the digital money transfer service owned by PayPal , suffered payments fraud earlier in 2018 that played a role in the company posting losses that were higher than forecasted for the first quarter of this year. While that helps reduce fraud, the WSJ noted that real users were also impacted when their transactions were declined.

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Could The Future Of Fighting Fraud On The ‘Dark Web’ Actually Be Bright?

PYMNTS

But those illegal marketplaces — often called the “Dark Web” — also present a juicy opportunity for those fighting fraud to detect and even preempt criminal activities than cost businesses revenue and, often, parts of their brand reputation. Early Warning Value. Enough of the basics. But that goes only so far.

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How A Local Lens For Risk Analysis Can Fight Global Money Laundering And Fraud

PYMNTS

Providers serving a wide array of businesses have access to more card or customer data than individual merchants, meaning they may be more able to flag individuals showing signs of fraudulent or unusual behavior. . Payment processors expanding their operations into new industries and markets have their work cut out for them, however.

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