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Samsung Pay Launches Debit Card, Money Management

PYMNTS

Samsung Pay is launching a physical debit card and this summer will introduce a money management tool in partnership with SoFi. Ahn added that over the summer months, Samsung Pay will introduce a tool to help people better manage their financial lives. Growth is being fueled in part because more retailers are participating.

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Security Demands Spur Virtual Debit Card Adoption

PYMNTS

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.

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Virtual Debit Cards Secure Transactions And Ease Minds

PYMNTS

This is driving demand for virtual cards, digital payment offerings that can authorize purchases without forcing shoppers to hand over sensitive permanent account numbers.”. Virtual cards are expected to facilitate $1.6 Merchants Align Behind V-Cards. trillion in spending this year and $5 trillion in 2025.

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 Netspend On How Increased Security Demands Spur Virtual Card Adoption

PYMNTS

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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Retailers, Banks Say Transaction Clarity Key To Moving From Dispute Management To Dispute Prevention

PYMNTS

Amid the great digital shift , retailers and financial institutions (FIs) must walk the fine line between challenging transactions and letting the consumer journey proceed frictionless. That’s driven the retailer to require merchandise, risk-driven signatures that can be dynamically altered, said Thompson. The Scope Of The Problem.

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Deep Dive: Fighting Card Data Breaches With Payments Partnerships

PYMNTS

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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FICO’s Take On Debit Security

PYMNTS

This payment rail’s use is going strong in the United States, with debit card penetration reaching 78 percent in 2018. Consumers also show continued interest in debit even as they adopt newer payment instruments, and a 2019 report found that 61 percent of mobile wallet users linked debit cards. Card fraud is an ever-present threat.

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