Bank Innovation

OCTOBER 2, 2017

EXCLUSIVE—Preventing fraud is an ongoing battle, and Mastercard wants to make it a little easier for card issuers with the launch of its Early Fraud Detection System. The system, announced by the payment processor today, will allow FIs and other card issuers to create a greater net of protection for card customers.

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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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BankBazaar

APRIL 19, 2024

Confused by Credit Card jargon? This blog post is your saviour, translating complex Credit Card terminology into plain English. Dive in and learn to speak the language of Credit Cards – without getting lost in translation! Payment Due The date by which the payment must be received by the Credit Card issuer to avoid late fees.

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PYMNTS

MAY 5, 2020

The shift to online commerce in the wake of the coronavirus pandemic is unprecedented. We’re doing more of everything online, especially transacting. Many merchants are trying very quickly to establish themselves with an online presence,” said Quevedo. Hiding In Plain Sight? The Issuer Side Of The Equation.

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PYMNTS

JUNE 26, 2020

“[They were exploring] how to educate people better [about] managing and spending money and bring them back into the financial system as good payers.”. Open banking’s nature fortunately provides superior data security to traditional banking models. Open banking can substantially increase the security of customers’ personal information.

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PYMNTS

MAY 8, 2020

Samsung Pay is launching a physical debit card and this summer will introduce a money management tool in partnership with SoFi. Samsung introduced its payments tool in 2015 with MST (Magnetic Secure Transmission) technology as well as Near Field Communication (NFC), a newer technology. has seen slow adoption compared to other regions.

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PYMNTS

APRIL 9, 2020

Building a secure customer journey is always a bit of a balancing act. It has to be secure first and foremost, particularly when payments data is on the line. Brands are typically aware of the potential for fraud to show up at the end of an anonymous transaction with a new user, stolen card number at the ready.

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PYMNTS

OCTOBER 22, 2020

As has historically been the case with commerce security upgrades that roll in by government mandate, the path to European Union adoption of 3D Secure 2.0 That] keeps them from getting in trouble with the card brands, and obviously avoids the significant costs that come along with fighting, investigating and resolving chargebacks.

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PYMNTS

JANUARY 15, 2021

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. consumers were expected to spend more than $190 billion online this season, up 36 percent from 2019, while in-store commerce was predicted to fall by 4.7

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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. Virtual cards can improve accounts payable (AP) processes, benefiting both buyers and suppliers by streamlining day-to-day payments, and providing greater control over cash flows.

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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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PYMNTS

DECEMBER 7, 2017

If the definition of insanity is doing the same thing time and again and expecting different results, then perhaps the way we pay through, and interact with, online banking may have a hint of madness, or at least complacency. And though the web may offer convenience, it offers not much in the way of security.

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PYMNTS

JANUARY 19, 2021

Corporate buyers are quickly shifting their purchasing habits online, and seeking more efficient experiences from product sourcing through to checkout. A great example would be buy online, pick up in-store," noted Bachalli. Along with the adoption of B2B eCommerce came the proliferation of different kinds of buying models. "A

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PYMNTS

NOVEMBER 19, 2020

While recognizing that digital currencies do pose risks, including the possibility of imposing “a macro-economic cost,” Haldane argued that a digital currency could mitigate technological constraints on lending, provide additional payments security, and increase stability. “I In other news, the U.S.

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PYMNTS

JUNE 19, 2017

reported Friday , June 16, that it had discovered malware on certain retail store location point of sale systems. The breach may affect users who paid via credit card at affected Buckle store locations between Oct. There is no evidence that online guests were affected. Buckle Inc. 28, 2016, and April 14, 2017.

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PYMNTS

SEPTEMBER 18, 2018

Government Payment Service , the company that enables online payments for thousands of U.S. According to a report in KrebsOnSecurity , the data includes names, addresses, phone numbers and the last four digits of credit card numbers.

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PYMNTS

AUGUST 15, 2019

Des Moines, Iowa-based supermarket chain Hy-Vee said credit card information for an undisclosed number of customers were exposed in a data breach, according to reports. “Hy-Vee Hy-Vee takes the security of payment card data very seriously,” the company said in a statement on its website. “We

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PYMNTS

OCTOBER 5, 2020

Cybercriminals deploy a variety of tactics to process their ill-gotten gains, ranging from techniques as basic as exchanging gift cards to ones as advanced as setting up fake eCommerce storefronts. Two-thirds of customers also felt that companies’ account security measures were subpar. Developments Around The AML/KYC Space.

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PYMNTS

NOVEMBER 20, 2019

Online sales during the season are expected to soar, with recent estimates projecting gains of 14 percent over last year to $143 billion. Where brick-and-mortar had once been their hunting ground, card-not-present transactions are increasingly in the crosshairs. The malicious script was found at 17 merchants. Where We’re Headed.

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PYMNTS

APRIL 1, 2020

billion non-prepaid debit card transactions in 2018, solidifying debit as a staple payment type. They insert or swipe their debit cards at stores’ point-of-sale (POS) devices — or key in details online — and maybe enter PINs, but the behind-the-scenes processes through which transactions are routed are kept invisible.

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PYMNTS

JANUARY 22, 2021

Young B2B FinTechs secured some of their first investments in areas that include small business accounting, alternative lending and financial management. The company offers a range of services, including business accounts, commercial cards, bill payment, expense reimbursement and accounting. The company recently announced $6.5

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PYMNTS

NOVEMBER 3, 2020

While FinTech innovation has opened up the doors for small- to medium-sized businesses ( SMBs ) to access more sophisticated solutions to manage money, software fatigue has business owners overwhelmed by a barrage of siloed systems. According to Yakov, before the pandemic, about 65 percent of The OLB Group's merchant base were not online.

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PYMNTS

NOVEMBER 16, 2020

The country’s banking system is giving an upgrade to its instant payments system. The new system is an upgrade over the current system known as SITRAF, which is akin to wire transfer systems used in the U.S. and is the country’s current domestic clearing and settlement system.

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PYMNTS

DECEMBER 10, 2019

PSCU’s Lumin Digital has converted over 10,000 Mutual Security Credit Union digital users to a cloud-based platform, Lumin Digital said in a press release on Tuesday (Dec. Our team worked in close coordination with the Lumin Digital team to execute a well-orchestrated conversion for our members.

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PYMNTS

JANUARY 22, 2020

Commercial cards remain only a fraction of the B2B payments space, but FinTech firms, banks and other financial service providers continue to develop new solutions aimed at boosting adoption. For companies like SmartEquip and Unified Payments Group , that means introducing new ways to lift the burden of suppliers accepting cards.

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PYMNTS

JANUARY 23, 2020

The European Union’s long-anticipated 5th Anti-Money Laundering Directive (5AMLD), which modernizes security rules to reflect the needs and threats facing today’s economy, took effect in mid-January, and its impacts are already being felt across the payments space. Fiat-focused digital wallets must also boost their security.

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PYMNTS

JUNE 19, 2018

Get a toehold in a consumer’s account with a card and whammo, here comes EMV. Fraudulent activity is 81 percent more likely to occur online than at the physical point of sale. By now, it’s widely known that chip-enabled cards have been pushing fraud to digital conduits. Pity the poor fraudster. We pity no fraudsters.

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PYMNTS

MAY 1, 2020

Many CUs are doubling down on their efforts to digitize their services in a secure manner. Establishing methods that replace face-to-face banking transactions with secure alternatives is an important need during these changing times, Vas Nunes noted. This turned out to be a win-win for our members and our staff.”

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PYMNTS

JUNE 13, 2019

It’s undeniably advantageous to the world economy, with a recent study finding that national digital ID systems could induce GDP growth of up to 13 percent. The Drawbacks of Complex Security. AI Solutions for Balancing Security and Convenience. Such systems have run into regulatory trouble in the U.S., More than 4.5

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PYMNTS

MARCH 1, 2019

Cybersecurity returned to the top of the B2B startup investment list as three companies in the enterprise security realm landed nearly half of the $246 million in B2B venture capital this week. Cequence Security. Also operating in the enterprise security space is Cequence Security, based in California. Contrast Security.

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PYMNTS

JUNE 4, 2018

and Europe weren’t able to use their cards on Friday (June 1) after a system failure prevented transactions from being processed. Visa had a system failure that impacted customers across Europe,” the company said, according to The Wall Street Journal. last year, hit a milestone by securing one million customer accounts.

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PopularBank

DECEMBER 1, 2021

Costs of paying by mail vs. online and mobile banking. On the other hand, mobile and online bill pay from Popular Bank is free and available 24/7. Security and convenience of payment options. You are protected by Popular Bank’s encrypted security processes and backing from the FDIC, just as you are when using checks.

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PYMNTS

SEPTEMBER 17, 2019

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). A recent partnership between consulting firm CGI and invoice payment solution provider Ordo aims to make invoice processing safer and more secure.

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PYMNTS

AUGUST 21, 2020

This popularity is not expected to decline once the virus wanes, with the number of online and mobile banking users expected to hit at least 3.6 ATM usage has been severely affected by the pandemic, as such machines require touching keypads, screens and card readers. The Security Threats Facing ITMs And How FIs Can Protect Them.

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Bank Innovation

FEBRUARY 7, 2019

Wells Fargo customers nationwide are experiencing technical difficulty accessing the San Francisco-based bank’s online and mobile banking services.

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Perficient

JULY 11, 2022

When online shopping, if a retailer has a partnership with a BNPL platform, the customer can choose it as their payment method when placing their order at checkout. But, the reality was, even though I felt more financially secure, I wasn’t technically in any less debt than I would have been had I just bought the shoes outright.

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PYMNTS

AUGUST 18, 2017

Retailers are retailers, not security experts. Too often, their best efforts can create friction at the point of sale for consumers, which leads to shopping cart abandonment and lost revenue, all while feeding the illusion of “too much security.”. There’s never ‘too much’ security,” Grant said.

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