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Travelex Attack Forces Shutdown Of Samsung Pay’s Cross-Border Transfers

PYMNTS

A New Year’s Eve ransomware attack on Travelex continued to affect global businesses and customers today, including multiple Samsung Pay users, according to reports. A company representative confirmed that Samsung Pay’s international transactions have halted as technicians continue their efforts to resolve the issue.

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Startup Riskified Seeks $200M To Fight eCommerce Fraud

PYMNTS

An Israeli startup that creates anti-fraud services that deal with online transactions wants to raise $200 million for expansion, according to a report in Bloomberg. Fraud is becoming an increasingly more common problem in the eCommerce sector, and is estimated to cost merchants about $130 billion over the next five years. “At

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Today In Payments: NYC Taxi Commission Accused Of Fraud; Apple Considers Letting Users Change Default Apps

PYMNTS

Also, Samsung production in Vietnam could stall due to the coronavirus. NYC Taxi Commission Accused Of $810 Million Fraud. Samsung Production Backlogged In Vietnam Due To Coronavirus. The coronavirus epidemic’s impact on Vietnam’s supply chain could stall production of the latest Samsung smartphones.

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Five At Five: Amazon’s Online Ad Push Gains Steam

PYMNTS

Also, Samsung has a new plan to capture millennial consumer loyalty, there is new clarity at the Bank of England and a new scam hits home buyers. Amazon Increases Its Push To Capture Online Ad Dollars. Mobile Users To Rely On Biometrics Security By 2023. Mobile Users To Rely On Biometrics Security By 2023.

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OTP Bots Are a Growing Threat: What Financial Institutions Need to Know

Abrigo

Takeaway 1 OTP bots are designed to socially engineer a victim into divulging sensitive information associated with online accounts. Two-factor authentication (2FA) is a commonly used tool to add an extra layer of security and prevent unauthorized login of online accounts. New Account Takeover Tactics. What is an OTP bot?

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What Digital ID Will Mean For Daily Life In 2020 And Beyond

PYMNTS

As digital payments and commerce grows — and as consumers and regulators focus more on issues related to web security and privacy — digital ID continues to take more of a role in addressing those concerns, and helping online companies and organizations win over more consumer and otherwise scale. ID Data Points. Biometric Markers.

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Vesta’s Vista On The Merchant’s Fraud Challenge

PYMNTS

At the same time, the risk of fraud has never been higher and is still increasing — and the true costs of card-not-present fraud hit both the top and bottom lines of retailers simultaneously, while doing damage to reputations as well. When it comes to fighting fraud, there is a two-tiered model that is emerging.

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