Abrigo

MARCH 3, 2023

Ten red flags to help you identify check fraud A financial institution's guide to identifying mail-related check fraud. You might also like this webinar, "Proactive measures to protect against check fraud and fraud loss." Losses from check fraud total $18 billion annually, representing more than a million checks daily.

Fraud 195

Fraud United States Trends Software 195

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. They also offer more safeguards against fraud than traditional business credit cards. B2B Virtual Card Purchasing On The Rise.

Cards 178

Cards Payments Fraud Capital 178

Bank Innovation

JULY 25, 2017

Customer fears about card security and fraud is increasing, but as it turns out, fewer consumers are actually experiencing that fraud. This is according to the Consumer Payment Card Data Security Perceptions survey by data solutions provider Transaction Network Services, released today.

Fraud 230

Fraud Cards Survey Security 230

Bank Innovation

FEBRUARY 2, 2018

In Denmark, the advent of digital banking also saw almost a 60% jump in card fraud, Bloomberg reported yesterday. Danish credit card fraud significantly increased in 2016, Bloomberg said, and reports of online fraud in the country have increased 300% from reports in 2009. […].

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Fraud Digital Banking Cards Online 246

PYMNTS

JUNE 24, 2020

With corporate travel still on pause, commercial card innovation has taken a different direction. This week’s look at the latest initiatives explores how FinTechs are wielding the corporate card in ways other than business trips, from accessing credit for accounts payable to financing employee lunches.

Cards 131

Cards Innovation Tools Capital 131

PYMNTS

APRIL 24, 2020

As local- and state-level government entities continue to run, it’s not business as usual for the public sector — particularly in the way these entities make and receive payments. It’s been a boon for ACH payments, said Jeff Thorness, president of Forte Payment Systems , a CSG company.

Innovation 161

Innovation Payments System Data 161

PYMNTS

SEPTEMBER 9, 2020

Consumers who previously paid for purchases by swiping or inserting their cards at in-store point-of-sale (POS) terminals are now turning to contactless cards and online shopping to safely and easily obtain needed goods. These two forces appear to be driving an increase in consumers’ use of touch-free debit payment options.

Cards 162

Cards Fraud Retail Security 162

PYMNTS

JULY 10, 2020

That doesn’t mean these companies have the ability to easily adopt the same payments solutions that businesses in other industries can access. Speaking with PYMNTS, Muller highlighted the opportunity that the cannabis space has to adopt payments and other financial technologies that have leapfrogged over legacy solutions.

Innovation 210

Innovation Payments Tools Compliance 210

PYMNTS

SEPTEMBER 19, 2019

This week, Mastercard announced plans to modernize its B2B payment ecosystem with Mastercard Track. The Mastercard Track Business Payment Service is said to be the first global open-loop commercial service created to automate payments between the world’s buyers and suppliers. With innovation comes new challenges.

Innovation 134

Innovation Payments Phoenix Security 134

PYMNTS

JULY 22, 2019

RHB in Malaysia is introducing fraud protection cards with mini screens on the back that auto-generate new card verification value (CVV) numbers, according to reports. An algorithm will generate the new number for the card. This card provides a complete end-to-end solution for RHB as an issuer and for our cardholders.” .

Fraud 108

Fraud Cards Security System 108

PYMNTS

JANUARY 19, 2021

A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. This includes shifts in which consumers are shopping and paying, and in the payment tools or methods they are using to finalize their transactions.

Fraud 155

Fraud Tools Mobile North Carolina 155

PYMNTS

SEPTEMBER 17, 2019

The timeliness of B2B payments raises the stakes for all parties involved, as a missed or delayed payment can ripple across the network. A series of payment innovations are promising to put an end to some common B2B payment frictions, including online portals, same-day ACH and automated accounts receivables (AR).

Cards 130

Cards Payments Fraud Phoenix 130

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.”.

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Management Cards Innovation Fraud 238

PYMNTS

OCTOBER 8, 2020

But with innovation comes risk — and anything that consumers use will always attract fraudsters looking to steal a cut of the action. . I think fraud will go up as awareness goes up,” he said. But clawbacks don’t exist in the world of instant payments. Consumers love the opportunity to get paid instantly when they can.

Payments 307

Payments Fraud Technology Innovation 307

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

APRIL 27, 2020

As consumers shop amid ongoing public health restrictions, they almost invariably reach for their credit cards — whether the physical varieties in their wallets or the digital versions stored on their browsers and mobile devices. More than ever, credit cards are becoming the coin of the realm in the global connected economy.

Cards 226

Cards Fintech United States Case Study 226

PYMNTS

JULY 2, 2020

debit payments were contactless before the pandemic — a rate that has since leapt up to 40 percent. 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.

Fraud 222

Fraud Cards Florida Trends 222

PYMNTS

OCTOBER 5, 2020

Retailers must protect customers’ card data from hackers who try to snatch payment details, and following best practices to ensure security requires adhering to the regulations established by the PCI SSC, a global payments industry forum. Compliance Complexities. Orchestrating A Solution.

Cards 207

Cards Data Compliance Payments 207

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive. Examples of remote authentication fraud. New account fraud.

Fraud 160

Fraud Strategy Community Bank New York City 160

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

PYMNTS

NOVEMBER 15, 2019

Though credit cards were not originally designed to address the needs of corporate payers, advances in commercial card technology have positioned the payment tool as one that’s gaining traction in the accounts payable department. This, he noted, is Mesh’s entryway to the market of cross-border B2B payments.

Cards 162

Cards Payments Tools Analytics 162

PYMNTS

SEPTEMBER 10, 2019

Canada’s Everlink Payment Services , a payment solution and service provider for banks, credit unions and small businesses, is strengthening its fraud controls for clients through a collaboration with ACI Worldwide. In a press release Monday (Sept. In a press release Monday (Sept.

Fraud 122

Fraud Risk Management Cards Tools 122

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

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. Reid noted that, although there are no upfront fees for making payments by checks, there are glaring inefficiencies tied to payments made by paper means.

Cards 181

Cards Fraud Payments Millennials 181

PYMNTS

JANUARY 14, 2020

It’s an innovator’s job to look at the status quo and disrupt what has always been done in favor of progress. Increasingly, however, payment rail innovators are also introducing ways to bypass traditional banks altogether, with many in favor of distributed ledger technology to move money between businesses and across borders.

Innovation 134

Innovation Payments blockchain System 134

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

Bank Innovation

OCTOBER 19, 2018

Noncash payments fraud in the U.S. outpaced growth in noncash payments overall between 2012 and 2015, according to a Federal Reserve Payments Study released this week. The study’s survey of depository institutions found noncash payments fraud increased 37%, from $6.1 billion in 2012 to $8.3 billion, in 2015.

Study 150

Study Fraud Payments Survey 150

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.

Fraud 108

Fraud Innovation Survey eBook 108

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

SEPTEMBER 7, 2020

In B2B payments, the commercial card has experienced a dramatic spike in adoption this year as organizations accelerated their digital transformations and, unable to physically enter the office, began to rely on electronic payments to conduct their business. Winter Blues. Spring’s SMB Support. Spring began in dramatic fashion.

Cards 246

Cards Tools Capital Payments 246

Bank Innovation

NOVEMBER 16, 2016

This week it was announced that InComm, a transaction solution and prepaid solution industry leader, will be piloting fraud prevention company Tender Armor’s CVV+ product in order to better protect cardholders against card fraud.

Fraud 150

Fraud Cards Online Industry 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

PYMNTS

NOVEMBER 6, 2020

COVID-19 has shifted consumers away from card-based payments experiences, while P2P has accelerated a change enabling merchants to own the payments experience itself, Debbie Guerra , executive vice president of merchant and payments intelligence solutions at ACI , told PYMNTS in a recent interview. Payments Flexibility

Payments 274

Payments Cards Fraud Retail 274

PYMNTS

SEPTEMBER 5, 2019

Today in the payments news roundup, almost 40 percent of U.S. workers are engaged with the gig economy at some level, and most of them are hoping that instant and faster payments continue to grow in scope. SCA Delay: A Payments Opportunity in Disguise? Visa: Chip Cards Reduce Counterfeit Fraud by 87 Pct.

Fraud 116

Fraud Payments Cards Innovation 116

PYMNTS

SEPTEMBER 30, 2020

It’s happened to almost all consumers: They’re idly perusing their credit card statements when they come across completely confusing, seemingly random charges from businesses they don’t recognize in locations they’ve never visited. Depending on the industry, friendly fraud can account for anywhere from 25-80 percent of all fraud losses.

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Cards Online Fraud US 220

PYMNTS

OCTOBER 18, 2018

Mastercard, the payments company, announced on Thursday (Oct. 18) that cardholder signatures will now be optional for the back of credit cards and receipts. Mastercard said cardholders will be able to check out faster, and consumers who use contactless payment methods won’t have to worry about providing a signature.

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Cards Survey Security Fraud 218

FICO

SEPTEMBER 8, 2022

Payments Fraud in Asia Post Pandemic. Why consumers are moving to banks with the best fraud and scam prevention. Senior Consultant, Fraud and Financial Crime. The growth of real-time payments and fraud in Asia. The appeal of these banking innovations has also made it a honeypot for fraud.

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Fraud Payments Survey Security 52