PYMNTS

SEPTEMBER 18, 2020

This week's look at payment rail innovation is all about speed, both for legacy rails and new ones. Combining these elements, we are creating a broad platform with faster technology and smarter and better services that the industry can trust as a foundation for innovation towards their own end-clients," he added.

Innovation 291

Innovation Payments cryptocurrency Cards 291

PYMNTS

MAY 4, 2020

Customers and merchants rely on their banks and credit unions (CUs) to ensure they have secure, convenient online transactions, and many FIs work to detect fraud by looking for abnormal purchasing behaviors that could indicate something is amiss. Around The FI Fraud Decisioning World.

Fraud 197

Fraud Data Tools Online 197

PYMNTS

OCTOBER 16, 2020

Harnessing consumers’ digital information is critical to the success of any business, and data analytics and artificial intelligence (AI) can be especially powerful tools. Fast-food giant McDonald’s was not interested in using AI or data analytics until it noticed that many of its competitors were benefiting from the technologies.

Analytics 273

Analytics Data Fraud Tools 273

PYMNTS

DECEMBER 4, 2020

This week, Stripe introduced banking services, we get a glimpse of the EU's upcoming Digital Services Act and PYMNTS' data reveals online purchases ruled Black Friday. Mastercard Intros Mobilized Virtual Cards; Defines Intersection Between Functionality And Security. But without support for mobile wallets, v-card adoption can lag.

Cards 151

Cards Data Mobile Survey 151

PYMNTS

MAY 22, 2020

Moreover, all demographic groups are far more likely to use phone than email or chat to reach card service departments — and this method is associated with higher satisfaction and resolution rates. Billing issues and payments is the most common reason, cited by 29 percent of cardholders, followed by fraud and data security, cited by 23.8

Cards 216

Cards Data Millennials Report 216

Bank Innovation

MARCH 22, 2018

UK-based fintech Revolut’s newest product is a “disposable” virtual card, a product that was designed with fraud protection in mind, the fintech announced today. The card, which sits inside Revolut’s mobile app, wipes a user’s details and resets them after every payment.

Fraud 277

Fraud Cards Payments Fintech 277

PYMNTS

OCTOBER 14, 2020

Spend management was the focus of innovation in the commercial card space this week thanks to partnerships and investments in firms aiming to help companies keep track of expenses. Monitoring fuel purchases through both cost and location is a valuable tool for fleet managers to prevent fraud and protect margins.”.

Management 238

Management Cards Innovation Fraud 238

PYMNTS

JUNE 20, 2019

Roughly one-third (35 percent) have made data analytics investments over the past three years, according to the Credit Union Innovation Playbook. Data analytics can provide customer insights. Also, credit unions that focus on data analytics are more likely to pursue a wider range of innovations than those that do not.

Innovation 100

Innovation Cards Analytics Video 100

PYMNTS

SEPTEMBER 21, 2020

And consumers want to pay with their preferred methods, across cards or digital wallets. Artificial intelligence (AI) can improve the eCommerce experience – not just in terms of warding off fraud, but also in making sure payments can be processed efficiently and that the most effective payment gateways are accessed.

Fraud 311

Fraud Payments Cards Security 311

PYMNTS

SEPTEMBER 13, 2018

The costs are myriad, and can be measured in funds delayed to businesses that need them (for fear of fraud), innovations not experimented with because of the heightened risk environment, or time and treasure spent trying to keep at least a step or two ahead of the fraudsters.

Fraud 115

Fraud Data Cards Innovation 115

PYMNTS

FEBRUARY 27, 2020

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. billion to $7.2 million USD).

Fraud 150

Fraud Examples Online Data 150

PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials. ATMs are common avenues for fraud, however, especially those that are running outdated software.

Analytics 266

Analytics Fraud ATM Report 266

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. Say a scammer calls a community bank customer and gains their trust by using information obtained from a major data breach. Examples of remote authentication fraud. New account fraud.

Fraud 160

Fraud Strategy Community Bank New York City 160

PYMNTS

JULY 28, 2020

Fraudsters and financial institutions (FIs) are constantly evolving to best each other, and growth in synthetic ID fraud is revealing that many banks must enhance their security measures to stay in the lead. Cybercriminals often use these identities to set up bank accounts and apply for credit cards and loans.

Fraud 132

Fraud Data Examples Security 132

PYMNTS

FEBRUARY 12, 2020

Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal data breaches were among the favored attack patterns last year. As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses.

Fraud 253

Fraud Handbook Security Comparison 253

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.

Cards 192

Cards Online Fraud social media 192

PYMNTS

DECEMBER 21, 2020

While it initially focused on currency in online checkouts, the company has branched out to work on checkout and fraud detection, integrating with companies like Shopify , Magento , BigCommerce , WooCommerce and Salesforce Commerce Cloud , according to the the report. Data from the IBM U.S. billion, the report says.

San Francisco 245

San Francisco Innovation Fraud Capital 245

FICO

NOVEMBER 10, 2020

I am always glad to see headlines like this one, which ran last summer in The New York Times: “ How to Reduce Credit Card Fraud.” Every Transaction Is Assessed for Fraud. FICO’s patented and proven fraud analytic capabilities have helped organizations save $90 billion+ per year. Steps Ahead of Financial Criminals.

Fraud 98

Fraud Cards Analytics Mobile 98

PYMNTS

OCTOBER 12, 2020

And online shopping and digital fraud are increasing simultaneously, but merchants can take steps to ensure that debit-based card-not-present (CNP) transactions are kept safe. All this, Today in Data. Data: $5.5M : Amount of funding recently secured by social impact commerce platform ShoppingGives. 92%: Portion of U.S.

Retail 146

Retail Innovation Technology Security 146

PYMNTS

SEPTEMBER 24, 2020

Fraud Threats To Digital Banking. Another threat is identity fraud, in which bad actors will either steal an individual’s identity or forge a new one, and then use it to open new accounts or apply for fraudulent loans they have no intention of paying back. Identity fraud accounted for $16.9

Video 205

Video Fraud Digital Banking System 205

PYMNTS

JULY 2, 2020

Financial institutions (FIs) are therefore expected to offer more contactless cards this year and some are also unveiling services intended to help consumers easily add cards to their digital wallets. consumers to shift as much as $100 billion in annual spending from credit to debit cards. Around the Next-Gen Debit World.

Fraud 222

Fraud Cards Florida Trends 222

PYMNTS

APRIL 24, 2020

He told PYMNTS in a recent interview that as consumers prioritize cost savings over shoring up rewards and airline miles, citizens are preferring to use ACH to pay their government bills and fees online rather than pay the processing fees often associated with cards. ” Accelerating ACH Innovation. ”

Innovation 161

Innovation Payments System Data 161

PYMNTS

JULY 29, 2020

That would be terrific news, Kount Chief Customer Experience Officer Rich Stuppy told PYMNTS in an interview, except for one thing: fraudsters love seeing consumer-centric innovations because those present fresh access points for ill-gotten gains. But he added that fighting fraud isn’t about building the highest possible wall.

Fraud 216

Fraud Branding Customer Experience Security 216

PYMNTS

JANUARY 30, 2020

Virtual credit cards are one of the more flexible electronic payment methods available, and the world continues its steady march toward greater digital payment use. Virtual cards can improve accounts payable (AP) processes, benefiting both buyers and suppliers by streamlining day-to-day payments, and providing greater control over cash flows.

Cards 178

Cards Payments Fraud Capital 178

PYMNTS

JUNE 22, 2017

There’s another way, though, in which the fear of fraud bears down on the enterprise. A new report from Vesta Corporation finds fraud positions itself in the way of innovation and growth, even compliance. to understand how payments fraud is limiting corporates’ path to success. cents per every $100 transacted.

Fraud 108

Fraud Innovation Survey eBook 108

PYMNTS

MAY 6, 2020

Financial fraud costs businesses an estimated $1.45 trillion, and it resulted in almost half of global organizations noting they were victims of fraud in 2018. This has the unfortunate side effect of enabling opportunistic fraudsters to more easily swipe that data if they gain access, however. One recent breach at U.S.

Data 181

Data Fraud Tools Technology 181

PYMNTS

OCTOBER 6, 2020

The rising tide of fraud in the prepared food segment got an unfortunate illustration this week as food delivery Chowbus suffered a data breach, with information on about 4,300 restaurants as well as data for hundreds of thousands of customers slipping out the door. Fraudster In Many Forms . Staying Ahead Of The Fraudsters .

Fraud 195

Fraud Data Mobile Cards 195

PYMNTS

APRIL 15, 2019

Not every innovation is a good innovation. The site first emerged in fall of last year, when the creators started advertising it on forums where hackers sell stolen payment card details. Using the data, however, is a bit complex for thieves, as it is only possible via a Chrome extension created by the Genesis market makers.

Fraud 129

Fraud Data Security Ohio 129

PYMNTS

OCTOBER 2, 2020

Adhering to Payments Card Industry (PCI) Data Security Standards (DSS) is an unavoidable requirement for any and all eTailers that accept card payments, but a surprising number of firms are not up to speed on these standards. Deep Dive: Fighting Card Data Breaches With Payment Partnerships.

Compliance 243

Compliance Data Report Meeting 243

PYMNTS

SEPTEMBER 17, 2019

Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Australian FIs are still feeling the repercussions of a breach to its New Payments Platform (NPP), which exposed the data of an unnamed number of banking customers.

Fraud 196

Fraud Digital Banking Delaware Tools 196

PYMNTS

JULY 10, 2020

Just as in other markets, eChecks, ACH, paper checks, wires and credit cards all come with their various benefits, as well as their pain points, from high processing fees to a lack of security. According to Muller, data is often at the heart of this issue. An Emerging Payments Influencer.

Innovation 210

Innovation Payments Tools Compliance 210

PYMNTS

NOVEMBER 24, 2020

As Nick Reid, director of B2B partner development at Conferma , said in an interview with PYMNTS, virtual cards can help eliminate those hidden costs. After all, he added, it takes time to establish buyer and seller relationships, such as the process of collecting supplier bank details and other data that needs to be loaded into ERP systems.

Cards 181

Cards Fraud Payments Millennials 181

PYMNTS

NOVEMBER 19, 2019

The fact that fraud is on the rise is not new, nor is it surprising that banks are turning to artificial intelligence (AI) and machine learning to fight back. In the latest Digital Banking Tracker , PYMNTS looks at how banks are currently approaching their use of AI and machine learning in fraud protection and technology innovation.

Fraud 109

Fraud Digital Banking Innovation Data 109

PYMNTS

JANUARY 22, 2020

billion chip-enabled consumer cards — credit and debit — are now in use across the world, according to EMVCo , the industry standard organization. Globally, more than 75 percent of all cards are now enabled with EMV chip technology. A multi-layered security approach is critical to thwarting crime and fraud in the digital space.

Cards 131

Cards Fraud Payments ATM 131

FICO

NOVEMBER 16, 2022

Enterprise Fraud Solution Buyers Want More Agility, More Data. Our recent global survey reveals the investment priorities and functionality requirements for enterprise-level fraud solution buyers. Investing in Fraud Prevention and Detection. FICO Admin. Tue, 07/02/2019 - 02:45. by Andrew Manuel. expand_less Back To Top.

Fraud 52

Fraud Data Survey Regional 52

PYMNTS

SEPTEMBER 18, 2019

Mobile and online banking providers have been upping their fraud protection measures over the last decade, making it more difficult for bad actors to rely on some of the schemes that previously worked in such channels. Banks are dealing with rapid rises in fraud schemes such as ATOs, synthetic identity fraud and account opening fraud.

Fraud 195

Fraud US Tools Strategy 195

PYMNTS

JULY 17, 2017

Fraud isn’t perpetrated by a random assortment of individuals; it’s organized crime. It’s “fraud as a Service.” It’s a very unfair match, if you ask Skye Spear, VP of eCommerce fraud-fighting firm Signifyd. “I Classic fraud deflection is rules-based. Fraud is dynamic. It’s a business. percent in Q1 2017.

Fraud 109

Fraud Data Delaware New York City 109