PYMNTS

DECEMBER 31, 2020

Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. Effective card offerings require financial institutions (FIs) to quickly and accurately detect myriad forms of fraud, forcing them into a delicate balancing act. Security challenges are mounting, too.

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PYMNTS

SEPTEMBER 9, 2020

These two forces appear to be driving an increase in consumers’ use of touch-free debit payment options. Debit transactions are on the rise, with credit union service organization PSCU finding that the value of payments made with debit cards rose 18 percent year over year between June 29 and July 5. Around The Next-Gen Debit World.

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PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

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PYMNTS

DECEMBER 17, 2020

Fraud protection specialist Kount and Philadelphia-based payments platform FreedomPay are teaming up to offer “an integrated, complete solution to enable international expansion with fraud-free payments and frictionless customer” experiences.

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PYMNTS

OCTOBER 30, 2020

In today’s top news, Mastercard reveals its AI tool Cyber Secure to help banks fight cyber breaches, and Amazon reported record-setting earnings. Mastercard’s Cyber Secure Uses AI to Help Banks Fight Cyber Fraud. Alphabet Strikes Retail-Friendly Pose in Q3 Earnings. EAF: New B2B Payment Tech Expedites Disaster Relief.

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PYMNTS

NOVEMBER 16, 2020

The risk of fraud continues to climb for organizations of all sizes as the latest data reveals third-quarter spikes in business email compromise and ransomware scams. Plus, the latest allegations of fraud hit the PPE supply chain, and the U.S. Plus, the latest allegations of fraud hit the PPE supply chain, and the U.S.

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PYMNTS

OCTOBER 12, 2020

This growth is a double-edged sword for merchants, as they need to keep up with consumers’ shifting payment expectations online and in-store while protecting their data against increasing numbers of fraud attacks. Shifting Payment Behaviors And Fraud .

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Fraud Retail Online Examples 199

PYMNTS

JANUARY 30, 2020

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. Card fraud is an ever-present threat. Around The Next-Gen Debit World.

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PYMNTS

DECEMBER 29, 2020

While fraud affects less than 1 percent of all card purchases, consumers who do lose funds from their bank accounts must go through lengthy and often stressful processes to get their money back. Getting security right also means balancing customers’ security and privacy concerns. Read the full story in the Tracker.

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PYMNTS

JANUARY 13, 2021

The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. Developments F rom The World Of Digital Fraud. Developments F rom The World Of Digital Fraud. For more on these and other digital fraud news items, download this month’s Tracker.

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Fraud Analytics Data Retail 189

PYMNTS

DECEMBER 16, 2019

’Tis the season for corporate fraud? The holidays are unfortunately one of the busiest times of the year for fraudsters looking to capitalize on the surge of shopping and payments activity. Unfortunately, this time of year fails to bring relief for businesses that fall victim to corporate and B2B payments fraud, too.

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PYMNTS

JANUARY 18, 2021

Contactless payments have surged in popularity over the past year, fueled by both an increased reliance on digital banking as well as the effort to contain COVID-19’s spread by preventing consumers and workers from having to touch point of sale (POS) system surfaces or handle cash. are deploying QR codes as a way of enabling these payments.

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Security Payments System Retail 209

PYMNTS

NOVEMBER 23, 2018

To counter fraud as the holiday season approaches, Best Buy , Target and Walmart made changes to their gift card programs. By working collaboratively with these retailers, we’ve created a way for businesses to take proactive steps to prevent scams,” New York State Attorney General Barbara Underwood said in a statement.

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Fraud Cards Retail New York 156

PYMNTS

DECEMBER 20, 2016

Unattended retail will be a $275 billion-a-year industry in three years. Which Mike Keegan, CEO of Transaction Network Services , said can only spell trouble for consumer adoption unless consumers are convinced that interacting with them digitally is totally secure. Here are the three data points they dug into.

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PYMNTS

NOVEMBER 10, 2020

Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. This leaves payment data vulnerable while inside the web page before it is transmitted. Each $1 of fraud costs retailers $3.13. . also known as 3DS 2.0

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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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Bank Innovation

MAY 2, 2018

Security and fraud risk remain the top priority for retail banks seeking to update their payments infrastructure, a study released this week by ACI WorldWide and Ovum found.

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Security Innovation Payments Study 150

PYMNTS

MARCH 14, 2020

With the coronavirus putting eCommerce front and center, it has unfortunately been joined by its cousin: online retail fraud. According to online security company Signal Sciences , eCommerce retailers deal with an average of 206,000 web attacks per month. percent of all eCommerce fraud , is still account takeover.

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Fraud social media Online Retail 230

PYMNTS

JANUARY 19, 2021

A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. This includes shifts in which consumers are shopping and paying, and in the payment tools or methods they are using to finalize their transactions.

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PYMNTS

JANUARY 18, 2021

People in general are more aware of — and concerned about — fraud as we pass through a second season of COVID, and eCommerce continues to rack up impressive stats, good and bad. Fraudsters will always be on the lookout for potential targets, especially during the holidays and other periods of increased retail activity.

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Fraud Security Study Retail 144

PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. Unlike the crypto markets, Wingert said the banking and payments industries continue to be slow to adapt to the challenges of KYC and fraud prevention. Complex Compliance.

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Fraud Compliance cryptocurrency Security 270

PYMNTS

OCTOBER 12, 2020

Online marketplaces are connecting retailers, consumers and nonprofits amid the pandemic. And online shopping and digital fraud are increasing simultaneously, but merchants can take steps to ensure that debit-based card-not-present (CNP) transactions are kept safe. consumers stating that security is important when shopping online.

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PYMNTS

JANUARY 21, 2021

Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. retailers have digital oversights that leave them vulnerable to attacks.

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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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PYMNTS

NOVEMBER 6, 2020

COVID-19 has shifted consumers away from card-based payments experiences, while P2P has accelerated a change enabling merchants to own the payments experience itself, Debbie Guerra , executive vice president of merchant and payments intelligence solutions at ACI , told PYMNTS in a recent interview. Payments Flexibility .

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Payments Cards Fraud Retail 274

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. A study done by Bank Negara Malaysia showed that upwards of 92 percent of total fraud losses were connected to card payment fraud.

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Fraud Cards Security System 108

PYMNTS

MARCH 1, 2019

Now, demand for faster payments options is taking off worldwide. It’s not just direct participants who are taking advantage of these payments schemes — financial services providers such as Fiserv are also working to extend access by offering FIs real-time payments connectivity and processing solutions. Fraud opportunities.

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Security Payments Fraud Cards 134

PYMNTS

DECEMBER 26, 2019

Thwarting fraud in one area is not enough to prevent it from cropping up elsewhere, and businesses are essentially playing whack-a-mole as fraudsters’ attacks move across channels. Digital fraud rose 30 percent in Q3 2019, with one out of every five new accounts revealed to be illegitimate.

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Fraud Strategy Tools Security 130

PYMNTS

FEBRUARY 19, 2020

What’s clear is that fraud decisioning solutions have never been more necessary, as cybercrime enters a new phase of sophistication, diabolical creativity and global scale. Bottom line: Fraud losses are expected to hit $48 billion annually by 2023 – more than double the 2018 losses. Sealing It.

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PYMNTS

JULY 15, 2020

Mari Anne Bayliss , senior director of solution management at CyberSource , told Karen Webster that simply relying on machine learning as a weapon against fraud is not enough — not in an age where managing fraud risk during the great digital shift (and unprecedented transaction volumes) is so challenging. .

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PYMNTS

FEBRUARY 3, 2020

Fraudsters are increasingly savvy, though, and retailers cannot afford to relax much. . Debit card fraud can have far-reaching consequences that extend beyond those of credit card fraud, as debit technologies link directly to customers’ bank accounts. Fraud And The Problem Of Convenience.

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PYMNTS

SEPTEMBER 18, 2017

How secure do you feel when it comes to payments? Two-thirds of the more than 3,000 adults surveyed said they were concerned about data security, with 38 percent of respondents believing their private information may have already been exposed. As for blaming the retailer for any number of breaches?

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Security Payments Survey Cards 152

PYMNTS

JANUARY 24, 2020

Tackling emerging eCommerce fraud is more intricate than ever, and payment processing companies and their online merchant clients must cooperate to safeguard these transactions, Ryan Fox, head of global identity services at payment services provider Worldpay from FIS , said in a recent interview with PYMNTS. .

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Fraud Security Online Analysis 153

PYMNTS

JULY 3, 2020

Banks’ security efforts depend on analyzing consumers’ transaction histories to gain firm understandings of their normal behaviors, enabling financial institutions (FIs) to spot unusual activities that could suggest fraudsters are involved. Defending Agains Fraud During Periods Of Reopening .

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PYMNTS

JANUARY 3, 2019

A new study has revealed that retailers will lose around $130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023. A layered FDP (Fraud Detection & Prevention) solution naturally helps directly preventing fraud, but it also offers major gains in terms of recovering potentially lost revenue through false positives.

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Fraud Study Retail Online 152

PYMNTS

DECEMBER 17, 2020

Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Developments From The World Of Digital Fraud.

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Fraud Online Retail Examples 255

PYMNTS

DECEMBER 8, 2019

And the price for a richer consumer experience online and via mobile — one of the defining trends of payments and commerce in 2019, and probably well into the 2020s — is that the code that creates those experiences often leave opening for fraudsters to exploit. It’s fairly new,” Dhawan said of this particular fraud and hacking threat.

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