How Visa handled ‘BidenCash’ card fraud incident
Payments Dive
MARCH 25, 2024
The card network giant identified 556,000 card accounts that were put at risk as a result of the cybercrime ring BidenCash’s release of data online in December.
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PYMNTS
JANUARY 28, 2021
It is well known that shoppers tend to behave differently online than they do in brick-and-mortar stores — and this extends to how they choose to pay at checkout. One of the more notable differences is their tendency to favor credit cards online and other options such as digital wallets over debit cards.
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PYMNTS
NOVEMBER 25, 2020
While predictions of increased spending are appearing more frequently since news of various COVID-19 vaccines has broken, PYMNTS data shows that consumers are still cautious, conservative and digital-first when it comes to holiday 2020. And when they do spend, consumers will do so online – some of them exclusively. A stunning 96.5
PYMNTS
DECEMBER 10, 2020
TSYS , a payment processing company, has suffered a ransomware attack and had some data posted online, according to a report from Krebs on Security. However, TSYS said the malware didn't jeopardize card data and that the attack had only targeted the company's administrative wing. "We Columbus, Ga.-based
PYMNTS
APRIL 1, 2019
When it comes to online shopping, one of the greatest frustrations for consumers — and friction points for merchants — is having to manually enter credit or debit card information for each purchase. percent of consumers today have account information stored online with at least one or more companies or service providers.
PYMNTS
JULY 11, 2018
Another retailer has been hit with a data breach. This time, Macy’s has revealed that hackers obtained names and passwords of online customers — and might have accessed credit card numbers and expiration dates. Macy’s is just the latest retailer to be hit with a data breach.
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.
PYMNTS
DECEMBER 4, 2020
The bank also processed record-breaking online and mobile payment transactions on Cyber Monday, up nearly 25 percent over 2019. Morgan’s card-present and card-not-present processing scale can provide uniquely valuable insight into consumer spending during the peak holiday shopping season,” Smith said. . As the No. trillion, J.P.
PYMNTS
JANUARY 25, 2021
Building on top of the open banking infrastructure, PayDirect is a new payment method that enables companies to take online payments in a highly secure way, and also pay out to customers through the same rails. The reason is that you don’t need to remember any payment details, card numbers or bank numbers.
Payments Dive
JULY 25, 2017
A new survey has revealed consumers have major concerns about the security of their payment card data. Download our new report which summarizes the key findings, including instore payments vs online, where responsibility lies and rates of fraudulent card use
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. The Weekender can catch you up. Top Trackers And Reports.
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
PYMNTS
SEPTEMBER 18, 2018
Government Payment Service , the company that enables online payments for thousands of U.S. According to a report in KrebsOnSecurity , the data includes names, addresses, phone numbers and the last four digits of credit card numbers.
PYMNTS
MAY 16, 2019
Death, taxes and data breaches – those are perhaps the only sure things in life, and new evidence is emerging that hackers are finding increasing profit in targeting online retailers. The news comes amid yet another online retail cyberattack, this one targeting Japan’s Fast Retailing, the company that owns the Uniqlo retail chain.
PYMNTS
SEPTEMBER 23, 2020
But George Connors , senior vice president of gaming and sports solutions at Fiserv , told PYMNTS in a recent conversation that other things have remained the same — like online gaming. market as regulatory restrictions were lifted from online gambling in recent years. Giving Consumers What They Want. Keeping Players Safe.
PYMNTS
NOVEMBER 30, 2020
The divide between digital and brick-and-mortar commerce hit a tipping point this holiday season, with more consumers than ever going online to kick off their holiday shopping sprees. Three in four shoppers bought items online and three in 10 shoppers bought items exclusively online. Our research shows that 74.1 It is also 27.1
PYMNTS
NOVEMBER 27, 2020
More consumers than ever are turning to online shopping channels to meet their needs during the pandemic, but many are also aware that cybercriminals are looking to capitalize on this stepped-up online activity to steal their card data. Firms are also prioritizing security as they transact online more heavily as well.
PYMNTS
JUNE 19, 2017
The company believes that exposure of cardholder data that could be used to create counterfeit cards – including names, addresses, emails and Social Security numbers – was limited, but some credit card numbers may have been compromised. There is no evidence that online guests were affected. 28, 2016, and April 14, 2017.
PYMNTS
OCTOBER 1, 2020
The great digital shift is transforming credit cards into money management tools. Consumers want cards, and they want them quickly, and they want those cards [delivered] in a digital way," said Turner. Streamlining all of that data collection and transmission – and how it is presented to users – requires standards, said Turner.
PYMNTS
MAY 19, 2020
based in Sao Paulo, inadvertently left hundreds of gigabytes of its customers’ personal and payment-related information publicly available online. Sen told The Hacker News that the exposed data included account login cookies and archives containing data from the servers and users. Natura & Co.
PYMNTS
JULY 9, 2018
After Macy’s cyber tools detected suspicious logins on June 11, the retailer is warning customers about a data breach. The news comes a few months after Orbitz , a subsidiary of online travel agency Expedia, had announced that it was hit with a data breach in 2016.
PYMNTS
APRIL 22, 2020
Paay, a startup credit card database storing millions of transactions, has been unsecured for weeks and only now closed again, according to a TechCrunch report. Paay’s mistake was not having a password installed on its server, which allowed anyone to see the data inside. million transactions were residing on the server.
PYMNTS
APRIL 3, 2018
Panera revealed the data of millions of customers for eight months or more before removing it from the bakery restaurant’s website Monday (April 2), reported KrebsOnSecurity. The data, according to the report, was searchable by different categories including loyalty account number.
PYMNTS
JANUARY 20, 2021
The corporate card industry continues to dig its heels into adoption efforts with the launch of new products and features designed to elevate the value of the card beyond a mere means of payment. Employees Lack Access To Corporate Cards. WEX Links MYOB Users To Card Payments.
PYMNTS
NOVEMBER 16, 2020
They have paid down their credit cards. The main one centers on the drop in credit card spend. A new report from TransUnion shows that average consumer-level credit card balances have declined during the course of the COVID-19 pandemic and now stand at $5,075 as of Q3 2020, down from $5,668 in Q3 2019. Here’s the scenario.
PYMNTS
DECEMBER 11, 2020
That’s the reality that the majority of consumers — 78 percent, according to Blackhawk’s data — are already anticipating a post-pandemic world where their shopping habits will permanently shift to digital. Digital Gift Cards ’ Growth. For instance, people are simply directing more spend at gift cards this holiday season.
PYMNTS
JULY 2, 2020
Driven by COVID-19 fears and stampeding online, consumers overwhelmed many businesses in 2020 that were unprepared for drastic, sudden eCommerce volume. And it’s a double-whammy for firms, including small and medium-sized businesses (SMBs), as they are very much on the hook for data security. New Behaviors, Same Regulations.
PYMNTS
DECEMBER 2, 2020
In a year that’s been filled with lifestyle changes, personal pivots and business adaptations, 2020 may also go down as the year of the gift card as studies show an outsized increase in sales leading up to the busy holiday season. InMarket’s data also showed customers were spending about 17 percent more on gift cards in 2020.
PYMNTS
NOVEMBER 23, 2020
23) that they have entered a strategic partnership to launch Visa Commercial Pay, billed as a suite of B2B payment solutions for enterprises making the shift to digital transactions, and, specifically, virtual cards — and away from paper-based manual processes. She said 89 percent of B2B buyers are making more online purchases than last year.
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.
PYMNTS
MAY 5, 2020
In an interview with PYMNTS, Mitch Pangretic, senior vice president of strategic partnerships at Elan , said that in-person card fraud may have decreased thanks to EMV chips and multi-factor authentication, but card-not-present (CNP) scams are increasingly gaining traction. Interacting With The Cardmember.
PYMNTS
DECEMBER 17, 2020
Citi has rolled out its new Citi Fleet Card in Europe and the United Kingdom, with a new solution that brings together a contactless-enabled card with a mobile program. Salon division was among the first Citi customers to go online with the offering, according to a Thursday (Dec. Kao EMEA's U.K. 17) announcement.
PYMNTS
NOVEMBER 22, 2019
It’s been said cybercriminals look for the path of least resistance when they target businesses or online marketplaces to steal data or money. And, increasingly, online gaming platforms — attractive to the bad guys due to their scale and relative anonymity — are in the crosshairs.
Abrigo
FEBRUARY 14, 2023
What to know about the CFPB 1071 rule affecting small business loans This post provides answers to some frequently asked questions about data requirements and other changes likely from the new rule. Takeaway 3 Lenders will need to collect 20+ data points on each application from businesses with $5 million or less in gross annual revenue.
PYMNTS
NOVEMBER 30, 2020
Being granted access to their customers’ true geographic locations could give financial institutions (FIs) crucial access to data that could protect consumers’ accounts, especially as more of them use mobile channels to shop and pay. consumers who own internet-connected devices and who use their credit or debit cards at least monthly.
PYMNTS
JULY 30, 2020
Corporate spend management company Center unveiled a Mastercard -powered Center® Corporate Credit Card and a QuickBooks Online Connector on Thursday (July 30). The company comes with uncomplex and adaptable card management to put expense rules and spend restrictions into place. The Comdata, Inc.-issued
PYMNTS
DECEMBER 31, 2020
Key Data Points: Consumers are performing 12 percent more activities at home in 2020 than they did in 2019 and making purchases during 12 percent of those activities, on average. Key Data Points: 46 percent of SMBs experienced an increase in demand for their products or services. Key Data Points: It takes only 78.5
PYMNTS
APRIL 12, 2017
The need for online retailers and brands to be vigilant in the face of fraud becomes more pressing by the day — but additional authentication measures can create friction on the consumer’s end, which has a nasty habit of reducing conversion rates.
PYMNTS
AUGUST 21, 2020
Community banks and credit unions are feeling the pressure to boost their digital card services or risk losing customers to megabanks and digital challengers, Ondot Systems ’ Chief Strategy Officer Todd Lesher told PYMNTS in a recent discussion. It’s a story told by the data itself, Lesher said. What Modernization Looks Like .
PYMNTS
OCTOBER 25, 2017
Commerce-enabling technology provider First Data and international bankcard company UnionPay International announced Tuesday (Oct. 24) they had formed a new partnership to expand the acceptance of the UnionPay card in the U.S. to pay with their UnionPay chip, credit and debit cards at First Data merchant clients.
PYMNTS
APRIL 9, 2020
It has to be secure first and foremost, particularly when payments data is on the line. But it also has to be easy, fast and friction-free — now more than ever as a mass of consumers are moving their shopping, dining, working and leisure time online in response to the coronavirus outbreak. Responding In Real Time To The Times.
PYMNTS
MAY 8, 2020
Samsung Pay is launching a physical debit card and this summer will introduce a money management tool in partnership with SoFi. It was also the first platform to introduce a cashback service for online shopping and recently added support for Swipe’s cryptocurrency Visa cards. has seen slow adoption compared to other regions.
PYMNTS
DECEMBER 7, 2020
Most are encouraging employees to work from home while also moving their back-office operations online, and payments operations are no exception. RLJ Financial On Managing B2B Spend With Virtual Cards. The benefits of using digital B2B payments solutions extend far beyond their ability to support a decentralized workforce.
PYMNTS
NOVEMBER 30, 2020
State mandates have also forced some businesses to close or limit on-premises operations, prompting such merchants to connect with consumers online instead. Fraudsters have redoubled their attacks on eCommerce channels, however, making consumers more concerned about data security. Virtual Card Payment Trends.
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