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 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

OCTOBER 12, 2020

One recent study found that new customer accounts now represent 30 percent of all transactions made online, for example, five times as many as they did prior to the crisis. Shifting Payment Behaviors And Fraud . Consumers are still shopping online more than ever seven months into the global COVID-19 pandemic.

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Fraud Retail Online Examples 199

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

Abrigo

DECEMBER 10, 2019

ABA study shows banks are reporting more cases of EFE. Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. What the ABA study determined is that financial institutions of all sizes continue to focus on elder fraud prevention. We can help.

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Fraud Study United States Training 284

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

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Fraud Examples Online Data 150

PYMNTS

OCTOBER 1, 2020

Kount , the Boise, Idaho-based Software as a Service (SaaS) platform designed to simplify fraud detection and improve profitability, announced it has partnered with Verifi , the payment protection and management company. In June, Visa signed an acquisition agreement with Verifi.

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Fraud Los Angeles Idaho Risk Management 183

PYMNTS

JANUARY 27, 2020

Retail keeps embracing numerous new technologies, and biometrics is not only one of them, but an area of recent growth and development, including via some of the biggest names in commerce. Take Amazon, which continues to expand its brick-and-mortar retail footprint, and the technology underlying those stores. Larger Trends.

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Retail New York Dallas Trends 264

PYMNTS

DECEMBER 22, 2020

Italian consumers are embracing a new government program aimed at boosting retail sales while tamping down on tax evasion that allows buyers to receive a 10% refund on card payments made in stores. By offering the incentive, they hope to cut down on black market deals and fraud, according to The Financial Times.

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Cards Payments Taxes Study 188

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

JULY 11, 2019

They can also see where a child or partner is using a shared credit card in real time and can even restrict usage at establishments deemed off-limits. The thing is, fewer than one-quarter of consumers currently use mobile card services. The thing is, fewer than one-quarter of consumers currently use mobile card services.

Cards 122

Cards Mobile Retail Fraud 122

PYMNTS

OCTOBER 18, 2016

In retailing, as a Nobel laureate once wrote (and sort of sang!), “the times they are a-changin” — a sentiment that extends handily to gift cards. No longer confined to being silly (or maybe saccharine) cards tucked into envelopes, gifting can be a quick and painless digital pursuit. Unless retailers make it hard.

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Retail Cards Study Customer Experience 100

PYMNTS

JANUARY 28, 2021

One of the more notable differences is their tendency to favor credit cards online and other options such as digital wallets over debit cards. consumers have shifted to digital shopping channels to purchase retail products, a fourfold increase since the start of the pandemic. The report finds that 45 percent of U.S.

Cards 210

Cards Online Security Data 210

PYMNTS

DECEMBER 21, 2020

Fraud instances have risen dramatically since the pandemic began, placing financial strains on consumers and merchants alike. Department of Justice recently warning consumers to be on the alert for virus-related fraud. It also examines which solutions or strategies merchants can employ to prevent such fraud.

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Fraud Cards Retail Resources 210

FICO

NOVEMBER 24, 2020

As many of us who have long been in the industry know, fraud remains a top challenge for debit cards. billion in gross (attempted) debit card fraud and ultimately incurred losses of over $1 billion on debit and ATM transactions; the need for an effective solution to this problem has never been greater. by Doug Clare.

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Fraud Cards ATM Case Study 52

PYMNTS

JULY 10, 2019

These platforms promise fast, seamless transactions, which most deliver – but when platforms focus on reducing friction for users, it can backfire and create new vulnerabilities to fraud. An unexpected consequence of the retailer race to offer same-day and one-day delivery is increased fraud exposure. Nearly one-third (30.4

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Fraud Strategy Study Comparison 140

PYMNTS

AUGUST 13, 2020

PAAY has rolled out a partner platform to let merchants and payment providers implement and track EMV 3DS, a standard that aims to help prevent unauthorized card-not-present (CNP) transactions, throughout different merchant accounts. It is essential right now that businesses take measures to protect themselves against fraud.

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Technology User Experience Fraud Comparison 248

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

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Fraud Security Retail Tools 110

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

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. This is leading some families to put their children’s funds on virtual cards instead, according to U.S.-based

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Cards Security Tools Online 197

PYMNTS

JULY 25, 2017

The impact of online fraud reaches far beyond the dollar count of sales lost. . In recent studies, as noted by EKN Research and Radial, developed nations are seeing an increase in card not present (CNP) fraud, which now accounts for as much as 70 percent of all card fraud and is growing at double-digit percentage rates in some nations. .

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Fraud Retail Cards National 120

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 .

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Fraud Data Mobile Cards 195

PYMNTS

APRIL 25, 2019

However, according to the Remote Payments Study conducted by PYMNTS in September 2018, behavior habits are shared by consumers based on income, age and gender. Digging deeper into which payment methods are facilitating these mobile transactions, debit cards (37.1 percent) and credit cards (28.7 mCommerce isn’t one-dimensional.

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Study Mobile Payments Cards 165

PYMNTS

JANUARY 8, 2020

Credit card payments are increasingly enabled via EMV chips rather than magnetic stripes, but these methods frequently suffer from a lack of diligent digital identity verification. EMV Cards Face Crucial Verification Security Gaps. EMV cards are becoming increasingly commonplace in the U.S.

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Fraud Cards Security National 169

PYMNTS

FEBRUARY 24, 2017

Unattended retail is becoming a fixture of the modern-day retail experience, from grocery stores to gas stations to vending machines, and it’s attracting plenty of attention from both consumers and fraudsters. Fraudsters eager to burn unattended retailers . One recent study of U.S.

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Retail Fraud Study System 109

PYMNTS

FEBRUARY 19, 2019

Account takeovers are becoming bigger business for criminals — or, at least, the business of preventing account takeovers in the digital retail and payments realm is becoming an increasing focus of companies and security experts. Fraud Prevention Innovation. Fraud Case Study. Account Takeover Growth.

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Retail Fraud Case Study San Francisco 118

PYMNTS

JANUARY 22, 2021

Were it not for a flurry of digital transformation all through 2020 the frightful fraud scene might’ve been worse. retailers have online system vulnerabilities that could leave them open to fraud. In one 2020 study conducted by PYMNTS, 55 percent of U.S. That the pandemic has been a fraudster’s playground is not in doubt.

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Fraud Study Cards Security 130

FICO

MARCH 18, 2020

As I recently blogged , the use of prepaid cards is growing, in forms ranging from one-time gift cards to reloadable payment mechanisms for benefit distribution. models are available to clients using the FICO Falcon Platform , and the MLSC technology is also used in our Retail Banking DDA models. . Dealing with Multimodality.

Fraud 52

Fraud Cards ATM Groups 52

PYMNTS

JULY 20, 2017

Digital Shadows , the industry leader in digital risk management, revealed its findings on the changing habits and tactics of organized credit card fraud gangs, discovering a new trend in the form of remote learning “schools.”. In just two of the most popular ‘carding’ forums, 1.2

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Study Online Course Cards 124

PYMNTS

JUNE 17, 2019

However, digital platforms face a major barrier in delivering these experiences: poor fraud detection. For digital platforms, fraud represents a two-headed beast. As largely online operations, they are tempting targets for fraudsters and hackers — therefore, robust anti-fraud systems are vital. According to PYMNTS’ research, 60.8

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Fraud How To Payments Survey 117

PYMNTS

SEPTEMBER 29, 2020

Mastercard, through its collaborative fraud and dispute resolution technology Ethoca , will now offer a new version of online statements with added logos and clear business names for each transaction. A study commissioned by Ethoca showed that 96 percent of U.S. A study commissioned by Ethoca showed that 96 percent of U.S.

Online 243

Online Guidelines Study Fraud 243

PYMNTS

FEBRUARY 1, 2017

The advent of the digital age has sped transformation of the retail industry from physical stores to digital storefronts. Since eCommerce currently makes up about 9–10 percent of retail sales overall — more in key segments — it is claiming more of that pie, Byrnes added. The pain point varies by the product mix, Byrnes said.

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Fraud Retail Cards Samsung 100

PYMNTS

MARCH 27, 2020

To that end, said David Barnhardt, chief experience officer at GIACT , in an interview with Karen Webster, an explosion in online transactions, in card not present activity, has brought with it a host of challenges for companies simply trying to keep up with demand. As Barnhardt noted, as transaction volumes spike, so does fraud.

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Fraud Data Online Payments 137

Gonzobanker

OCTOBER 27, 2022

In early October, the Federal Reserve finalized a rule, known as Regulation II (Debit Card Interchange Fees and Routing), that requires every debit card transaction to have access to two unaffiliated payment card networks. The Federal Reserve reported that 23% of debit card transactions were CNP in 2019.

Cards 78

Cards Fraud Regulation Trends 78

PYMNTS

OCTOBER 19, 2018

The Vulnerabilities of Retail (and Other Sectors). And of course, said Nunziata, “when we think about retail businesses, the point of sale is always a concern.” Despite the advent of chip technology in credit cards, which has improved security, bad actors continually look to circumvent systems in place.

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Study Security Survey Data 191

PYMNTS

JULY 17, 2019

Firms must soon put more stringent fraud decisioning processes in place, and strong customer authentication (SCA) protocols must be built into checkout flows for online transactions that begin in Europe. Dragging their heels could have serious financial implications, according to a separate study by Stripe. To some degree.

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Retail User Experience Compliance Regulation 162

PYMNTS

OCTOBER 13, 2020

A recent study of North American and European consumers found that 92 percent expect their digital transactions to be safe, streamlined and convenient, for example. Merchants must be on the lookout for a variety of criminal activities, and credit card fraud is an increasingly important one.

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Report Fraud Tools Security 174