PYMNTS

FEBRUARY 3, 2020

Fraudsters have grown adept at finding debit cards’ weak points, and merchants are struggling to keep up. Losses due to false credit and debit card declines — in which merchants reject legitimate orders on the mistaken belief that they are fraudulent — grew to $118 billion last year and are projected to reach $443 billion by 2021.

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Fraud Cards Tools ATM 131

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.

Cards 197

Cards Security Tools Online 197

PYMNTS

SEPTEMBER 4, 2019

Visa announced that since their inception, chip cards have reduced counterfeit fraud by 87 percent. . Chip cards are increasingly becoming the norm as usage and acceptance has continued to grow since the EMV standard was first introduced in 2011,” the company said. Counterfeit fraud dollars for all U.S.

Fraud 195

Fraud Cards Tools Data 195

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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Security Fraud ATM Cards 182

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.” .

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Fraud Cards Security System 108

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

PYMNTS

DECEMBER 29, 2020

Consumers have more heavily leaned on debit during the pandemic, with the economic downturn making shoppers more cautious than ever about the prospect of taking on credit card debt. A recent study even estimates that shoppers could ultimately shift $100 billion worth of annual spending from credit cards to debit cards.

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Fraud Cards Analysis Tools 303

PYMNTS

NOVEMBER 16, 2020

The risk of fraud continues to climb for organizations of all sizes as the latest data reveals third-quarter spikes in business email compromise and ransomware scams. Plus, the latest allegations of fraud hit the PPE supply chain, and the U.S. Plus, the latest allegations of fraud hit the PPE supply chain, and the U.S.

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Fraud Security Data Cards 242

PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

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Fraud Retail Online Study 124

PYMNTS

NOVEMBER 30, 2020

Fraudsters have redoubled their attacks on eCommerce channels, however, making consumers more concerned about data security. 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.

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Cards Security ATM Data 151

PYMNTS

JANUARY 15, 2021

In the inaugural QR Code Payments Tracker® , PYMNTS explores the latest in the world of QR codes, including new implementations at retailers and payment providers, the security concerns facing this payment method, and the pandemic’s effect on the development and rollout of QR code-enabled payment options. Retail Environment.

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Retail Security Payments United States 207

PYMNTS

JANUARY 13, 2021

The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. percent had falsely claimed a charge on their credit card was fraudulent to score a refund. Developments F rom The World Of Digital Fraud. Developments F rom The World Of Digital Fraud.

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Fraud Analytics Data Retail 189

PYMNTS

JANUARY 19, 2021

Studies showed that many consumers in the United States have begun tapping their debit cards more often for payments, for example, with one report finding that debit use rose about 6 percent year over year. consumers now count themselves as “ debit-centric ” users, a sizable jump over the 33 percent who said the same about credit cards.

Fraud 155

Fraud Tools Mobile North Carolina 155

PYMNTS

JANUARY 15, 2021

The holiday shopping season is the most wonderful time of the year for the retail industry. Brick-and-mortar merchants and online retailers alike often rely on end-of-year sales to generate up to 40 percent of their annual revenues and start the new year on a positive note. A notable $730 billion in U.S. A notable $730 billion in U.S.

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Retail Online Fraud Cards 159

PYMNTS

NOVEMBER 10, 2020

Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. Founded in 2007 by Miles and John Perry, who serves as chief executive officer, Bluefin specializes in encryption and tokenization payment and data security. . Each $1 of fraud costs retailers $3.13. .

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Security New York Atlanta Fraud 233

PYMNTS

OCTOBER 12, 2020

Online marketplaces are connecting retailers, consumers and nonprofits amid the pandemic. 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. 92%: Portion of U.S.

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Retail Innovation Technology Security 146

PYMNTS

MARCH 14, 2020

With the coronavirus putting eCommerce front and center, it has unfortunately been joined by its cousin: online retail fraud. According to online security company Signal Sciences , eCommerce retailers deal with an average of 206,000 web attacks per month. percent of all eCommerce fraud , is still account takeover.

Fraud 230

Fraud social media Online Retail 230

PYMNTS

OCTOBER 12, 2020

This growth is a double-edged sword for merchants, as they need to keep up with consumers’ shifting payment expectations online and in-store while protecting their data against increasing numbers of fraud attacks. Shifting Payment Behaviors And Fraud .

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Fraud Retail Online Examples 199

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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Fraud Cards Tools Florida 180

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.

Fraud 148

Fraud Strategy Study Cards 148

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

Fraud 150

Fraud Examples Online Data 150

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.

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Retail Online Cards Data 218

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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Cards Online Fraud social media 192

PYMNTS

JULY 15, 2020

Mari Anne Bayliss , senior director of solution management at CyberSource , told Karen Webster that simply relying on machine learning as a weapon against fraud is not enough — not in an age where managing fraud risk during the great digital shift (and unprecedented transaction volumes) is so challenging. . Lying In Wait .

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Fraud Course Online Data 250

PYMNTS

DECEMBER 17, 2020

Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Developments From The World Of Digital Fraud.

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Fraud Online Retail Examples 255

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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Fraud North Carolina Payments Delaware 149

PYMNTS

APRIL 21, 2016

-area grocery story chain is only allowing customers to purchase reloadable or prepaid gift cards with cash or bank PIN-based debit due to a significant increase in credit card fraud. Brian Krebs reported the change to grocer Giant Food’s policy yesterday (April 20) on his cybersecurity blog Krebs on Security.

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Cards Fraud Policies Washington 100

PYMNTS

JANUARY 31, 2020

A 2018 survey found that 40 percent of American financial institution (FI) customers in this age bracket reported debit cards as their go-to payment instruments, while 36 percent favored credit cards. These organizations need to fend off anything threatening, combatting both popular and emerging debit fraud attack methods.

Fraud 148

Fraud ATM Cards Security 148

PYMNTS

FEBRUARY 19, 2020

In they went, stealing details of 30 million cards before the malware was discovered in December of 2019. card number. What’s clear is that fraud decisioning solutions have never been more necessary, as cybercrime enters a new phase of sophistication, diabolical creativity and global scale. Sealing It.

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Fraud Pennsylvania Trends Security 131

PYMNTS

DECEMBER 9, 2018

With retailers struggling to get compliant with the Payment Card Industry Data Security Standard , qualified security assessors are going to be in more demand and can offer tokenization as one way of achieving compliance.

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Retail Report Compliance Security 194

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

DECEMBER 20, 2016

Unattended retail will be a $275 billion-a-year industry in three years. Which Mike Keegan, CEO of Transaction Network Services , said can only spell trouble for consumer adoption unless consumers are convinced that interacting with them digitally is totally secure. Here are the three data points they dug into.

Security 100

Security Retail Payments Data 100

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.

Cards 207

Cards Data Compliance Payments 207

PYMNTS

JUNE 20, 2019

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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Fraud Payments Cards Strategy 182

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

JANUARY 3, 2019

A new study has revealed that retailers will lose around $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023. This is something about which retailers remain undereducated, and has allowed fraudsters to capitalize on relatively low FDP spend,” explained research author Steffen Sorrell in a press release.

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Fraud Study Retail Online 152

PYMNTS

MARCH 6, 2018

A new report has revealed that there was a 10 percent increase in the number of payment cards compromised at U.S. The number of compromises and the number of card members impacted set a new record last year,” said TJ Horan, vice president of fraud solutions at FICO. also showed that compromised card readers at U.S.

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ATM Cards Fraud Security 126