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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Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. An increase in financial crime and fraud against the elderly is expected to continue to climb as the baby boom population (those born before 1964) age. The under-reported and growing crime.

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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. PYMNTS’ latest research report, Online Security And The Debit-Credit Divide , a PYMNTS collaboration with Elan based on a survey of 2,466 U.S. The report finds that 45 percent of U.S.

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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. In the latest Mobile Card Services Playbook , a collaboration with Ondot , PYMNTS surveyed more than 9,500 U.S.

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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.

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PYMNTS

DECEMBER 4, 2020

Mastercard Intros Mobilized Virtual Cards; Defines Intersection Between Functionality And Security. The virtual card offers a strong value proposition for corporates in the form of enhanced security and control over spend. But without support for mobile wallets, v-card adoption can lag.

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PYMNTS

DECEMBER 8, 2017

They say gift cards are the gift that always fits. Thieves simply walk into Walmart, Target, Home Depot, Lowe’s or another big-name retailer, steal an item, return it at a different store without a receipt and receive a gift card in return, which they can then turn around and sell to a pawn shop or secondary store for a lower price.

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PYMNTS

DECEMBER 21, 2020

Fraud instances have risen dramatically since the pandemic began, placing financial strains on consumers and merchants alike. One recent report that surveyed consumers from the U.K., Department of Justice recently warning consumers to be on the alert for virus-related fraud. Blunting Promotion Abuse Problems.

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PYMNTS

DECEMBER 20, 2019

More than one-third of Americans surveyed report being victims of cybercrime in 2019, and 41 percent of those incidents involved the theft of credit or debit card information. Fraud prevention tech has to scale. Clean’ and ‘Friendly’ Fraud are Neither. That’s “clean” fraud. vs. the FinTechs.

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FICO

APRIL 29, 2022

There’s a lot going on in the retail payments space – defined as transactions between two consumers, between consumers and businesses, or between two businesses. With any change, fraud comes hand-in-hand. All these evolutions mean a changing landscape for retail fraud and scam trends.

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FICO

APRIL 20, 2023

According to FICO’s latest survey of consumers from 14 countries around the globe, 90% of all consumers have sent a real-time payment, and at least 95% of consumers have used real-time payments in India , Indonesia , the Philippines , and Brazil. Throughout the countries we surveyed, RTP usage shows no signs of slowing.

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FICO

APRIL 26, 2023

Home Blog FICO Survey: Do Customers Think Banks Are Fair to Scam Victims? According to the 2023 FICO Global Scams Survey , 51% of consumers worldwide believe their friends or family members have been victims of similar scams. More than 10% of these reports involved losses, which totaled A$96 million.

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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.

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PYMNTS

DECEMBER 11, 2017

It appears the ever-inventive thieves of the world have found a new way to make gift card fraud work for them this holiday season, according to the Better Business Bureau (BBB). This year the scam relies on thieves grabbing cards off the rack, scratching the film that covers the card PIN underneath and copying the relevant numbers.

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PYMNTS

DECEMBER 11, 2020

Capital One Halts BNPL Transactions On Its Credit Cards. Capital One Financial Corp is putting a stop to buy now, pay later (BNPL) transactions on its credit cards, calling the dealings “ risky ,” for both consumers and banks. Nearly 90 percent of millennials have credit cards, yet still seek new ways to finance their online purchases.

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PYMNTS

APRIL 2, 2019

Storing a card on file is an integral part of the shopping experience for many consumers, as eCommerce continues to explode across the retail landscape. Late last month, SentiLink , which uses technology to detect and prevent synthetic fraud, raised $14 million in a Series A round earmarked for a number of initiatives.

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PYMNTS

OCTOBER 20, 2020

This shift in buying behavior is likely here to stay, too, leading more customers to use card-based payments to complete their purchases when shopping online. This is the focus of Understanding Frictions In Credit Card Transactions: How Transaction Disputes And Declines Impact Merchants’ Reputations, a PYMNTS and PAAY collaboration.

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PYMNTS

APRIL 27, 2020

As the digital shift continues to keep pace with post-coronavirus shopping behaviors, eCommerce fraud is growing with it. In fact, 22 percent of respondents in a recent TransUnion survey claimed they had “been targeted by digital fraud related to COVID-19.” The company’s technology tracks user behavior to determine fraud.

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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. In August 2022, we commissioned a survey of 156 global executives and managers from retail banks and retail financial institutions.

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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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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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PYMNTS

NOVEMBER 20, 2018

In an organized retail crime (ORC) survey, the National Retail Federation found that 92 percent of respondents were victims of the practice in the past year. These criminals find new ways to expand their networks and manipulate the retail supply chain every day.”. The practice can come in a variety of forms.

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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.

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PYMNTS

DECEMBER 17, 2020

Although the digital shift brought on by the pandemic has rapidly reshaped the entire retail industry, its impact on the grocery segment in particular has been especially pronounced. The consumer survey in the report shows that 79.6 percent fewer consumers use contactless credit cards than would like to, for example, and 15.1

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PYMNTS

DECEMBER 12, 2017

Major retailers such as Target, Home Depot, Walmart and Lowe’s have been forced to introduce stricter return, store credit and gift card policies in response to a troubling trend. They say gift cards are the gift that always fits. I feel like I could’ve found a way around any rule they make,” Ashlee Smith, 24, told CNBC.

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PYMNTS

DECEMBER 16, 2019

A recent National Restaurant Association (NRA) survey found that 43 percent of consumers want to order via app, but only 18 percent of NRA members have it on the menu. Credit/debit card pilferage is their core trade, so naturally, they’ve latched onto gift cards in a big way. Would You Like Hacking with That?

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PYMNTS

JANUARY 18, 2020

What makes the story stand out among the reams of local retail crime reporting is that the crime was actually committed. Botched crimes in local retail are common. Organized Crime’s Physical Retail Expansion . Brown rejected suggestions that it could be a current or past employee, telling local news affiliates, “It was a pro.”.

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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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FICO

MARCH 30, 2023

I will sheepishly admit that since post-COVID travel has picked up again, I’ve found myself traveling with physical card or two crammed into my minimalistic ID-holder, just for rare cases where digital won’t work. Both from a cash and a fraud perspective, my curiosity was piqued, and I fell down the rabbit hole to learn more.

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PYMNTS

FEBRUARY 23, 2016

1, around half of “big retailers” had EMV while smaller retailers were clocking in at 10 percent to 33 percent, depending on whose count one liked. retailers are able to process chip-card transactions. The challenges to adoption, in fairness to those retailers, have been formidable. They weren’t.

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PYMNTS

AUGUST 28, 2019

Retailers seeking to provide rapid deliveries face an ever-moving target as consumers’ definition of speed evolves. This method allows consumers to use retailers’ websites or apps to browse, select and pay for items, after which they then visit physical stores to collect their goods. Quick Access and Impulses. Tractor Supply Co.

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FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Few things change faster in the financial services space than fraud trends. FICO Admin.

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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. That the pandemic has been a fraudster’s playground is not in doubt. Where consumer spending goes, thieves follow.

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FICO

SEPTEMBER 14, 2021

A few weeks ago US economists were surprised when the Commerce Department reported that retail sales rose by 0.6% What does that mean for fraud professionals? Once I started looking around, I saw that Venmo is accepted at quite a few national retailers. QR Codes and Fraud. Venmo is a PayPal company. What about QR codes?

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PYMNTS

JANUARY 20, 2017

s card-not-present fraud situation may get worse before it gets better. Whether it’s the Nigerian Price asking for help or an obviously spoofed email from a well-known retailer, it can be hard for scammers to pull the wool over the eyes of people who are familiar with their schemes. Money On The (Cybercriminal) Brain.

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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. Additionally, a majority thought there were already too many security checks regarding card payments.

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Retail User Experience Compliance Regulation 162

PYMNTS

DECEMBER 3, 2020

After the year we’ve seen so far, uncertainty is probably just about the last thing the retail segment wants as a holiday present for 2020. Judging by Ondot ’s data from a recently conducted consumer survey, that means holiday shopping is going to be online and on mobile to a degree never before seen.

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