Retailers are pushing mobile apps, but not always security

Payments Source

Even before the COVID-19 pandemic forced retailers and consumers alike to consider the benefits of shopping via a mobile app, providers of shopping and loyalty apps were seeking partnerships with security vendors to deploy fraud prevention technology.

Securing Unattended Retail Payments


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. The first data point — 61 percent — reflects the number of these respondents, ages 25 to 30, who would rather use payment cards instead of cash when buying items at unattended terminals.

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New Apple OS Reportedly Has Payment Security Issues


Two Apple iOS 13 users took to Reddit to share some payment security issues they faced when using the tech giant’s newest iteration of its operating system, according to reports. Two users said they were trying to update their payment information when another person’s information popped up in the information box. This is a major security flaw in iOS. Security & Fraud Apple fraud News Payment Security Retail Security What's Hot

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6 holiday security fears for retailers

Payments Source

As the holiday shopping season kicks off, retailers are preparing for an influx of payment volume from shoppers and scammers alike. Mobile wallets Mobile payments Compliance Network security Device security Data securityHere are a few of the problems they face.

Retailers need to do more heavy lifting on payment security

Payments Source

Retailers must decide if they will heed this call and do the right thing by investing in the security we need today and the innovation of tomorrow, contends Jeff Tassey, executive director of the Electronic Payments Coalition. ISO and agent Retailers Payment processing Security risk EMV

For security, payment tech providers need to think like retailers

Payments Source

Payment companies have a responsibility to both merchants and consumers to emerge as brands in their own right, with values that resonate not just with the businesses they are supporting, but with the customers using their services, writes Koen Vanpraet, CEO of Intrapay. ISO and agent Payment processing Security risk Customer experience

How Music Retailers Keep Card-Not-Present Fraud From Sounding A Sour Note


These two forces appear to be driving an increase in consumers’ use of touch-free debit payment options. More merch ants are enabling mobile wallet payments, as well. Almost 65 percent of FIs said in a recent survey that their customers are now making more CNP payments, for example.

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Tapping Into Mobile Payments And Retail Technology Amid Digital Shifts


As retailers scramble to capture the digital shift, it’s easy for some overlooked details, such as unanswered customer complaints, to harm their brands. In payment methods, a shift to contactless is underway, and the stage is set for consumers to embrace mobile wallets more widely.

US Retailers Confront Data Privacy Shifts


Collecting and sharing data is a critical part of business today — especially during this period where most work and payments are being conducted online — and that means regulators have tough choices to make when determining what banks, businesses or even consumers have access to data and why. In the latest Merchants Guide to Navigating Global Payments Regulations , PYMNTS examines the latest data privacy and online banking regulations taking shape in the United States. Security .

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Stripe Powers Digital, In-Store Payments For Lightspeed Retail, Restaurant Customers


Canadian global point-of-sale (POS) and eCommerce firm Lightspeed is teaming up with Silicon Valley payments platform Stripe to advance in-store and online payments for retailers and restaurants in the U.S. retailers.

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FICO’s Take On Debit Security


Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. This payment rail’s use is going strong in the United States, with debit card penetration reaching 78 percent in 2018.

Consumers Are Less-Than-Secure Over Payments Security


How secure do you feel when it comes to payments? Consider a survey commissioned by payment, telecom and financial data solutions provider Transaction Network Services (TNS), which found that 85 percent of adults across the United States, the United Kingdom and Australia believe fraud attempts on debit and credit cards are on the upswing. Consumers are becoming more tech savvy and increasingly familiar with a continuum of payment methods.

Report: Retailers want secure mobile wallets with integrated rewards

Mobile Payments Today

Payment security was cited by 72 percent of retailers polled, with integrated loyalty options, 71 percent, and seamless ordering, 55 percent, as top three features wanted in mobile apps

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How Retailers Are Gearing Up For Contactless Payments Via mPOS


With the use of contactless payments heating up around the world, small and mid-sized businesses (SMBs) and their solution providers have to prepare for their acceptance. certification: They must, for instance, resolve issues when a payment reader’s too-powerful field strength results in damaged smartphones and cards. Last year, however, contactless payments in the United Kingdom alone jumped by a whopping 31 percent over the prior year.

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What Holiday Retail Will Look Like In 2020


Retailers are trying to make themselves as ready as possible, given the highly unpredictable nature of the COVID-19 era’s commerce environment. “I Alford added that retailers also have to be “really careful about creating friction in the transaction process.

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Green Dot Launches Secured Credit Card

Bank Innovation

Today it was announced that Green Dot, a leader in the prepaid space, is launching the Green Dot Platinum Visa Secured Credit Card—a credit card designed specifically to help those without credit build it, or those with low credit scores, build them up. Cards Payments Retail credit GoBank Green Dot payments

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Reducing Uncertainty In Retail And Payments


Brexit looms , and issues related to payments and commerce are still getting worked out – though some clarity is emerging. Today In Data Commerce fraud Innovation News payments Retail Security Today in DataMeanwhile, there is new energy in the fight against one of the biggest forms of digital and mobile fraud , and more innovation around one of the B2B world’s biggest pain points. Kitchens are getting smarter , and real-time transactions are getting better fast.

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Merchants And The Big Retail Reset


Iain McNicoll , VP of Americas/SMB for payments platform Payoneer , recently told PYMNTS that eCommerce’s market share has risen to 27 percent from just 16 percent when the pandemic began. McNicoll said the quick gains aren’t surprising, as physical retail stores essentially closed down worldwide for months. Ultimately, the luggage company secured a working capital loan from Payoneer to help finance its pivot.

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Retailers Fishing for Distractions Amid Data Security Push

Finer Points

Such is the case with the retail industry sidelining the debate over data security by resuscitating tired and largely […]. Advocacy Community Banks Cybersecurity Data Security Interchange Payments Small Business Technology WashingtonCongress is an intentionally deliberative body.

Retail Innovation Has Changed — Can SMBs Keep Up?


Still, it’s striking — or, perhaps, significantly hopeful, in a retail sense — that 65.4 percent of retailers have said they innovate to improve customer loyalty. Payments Drives Innovation. Turn a point of interaction into a payments capable device,” he said.

Israeli Innovation Accelerator Focuses On Retail


Now a new Israeli tech accelerator is turning its efforts toward retail innovation and helping to start new technologies for payments and biometrics. Called the Retail Innovation Club , it was founded as a facilitator as well as an accelerator. “We

Payment Security Provider Token Inks Deal with Marqeta and Mastercard

Bank Innovation

EXCLUSIVE -Fintech startup Token has inked a major partnership with payment processor Marqeta and Mastercard that tremendously expands its reach in the online retail space, just in time for the holidays. “By Cards Exclusive Innovations Mobile Online Open Fintech Payments Startups Marqeta MasterCard Token

Securing The Self-Serve Store


They may enjoy strolling the aisles of physical retail, but many customers still want support features that enable them to quickly and easily find and buy items, through self-serve offerings and other automation technologies. Today, most automated retail models tend to follow either an Amazon Go -style, cashierless store or an intelligent cabinets approach. The June Automated Retail Tracker charts all the latest developments and deployments of these models and more.

Square For Retail On Register Integrates POS, Payments


Square For Retail is now available on Square Register , allowing the retail point-of-sale (POS) solution to run on Square’s end-to-end, integrated POS system, the Silicon Valley company announced on Tuesday (Feb.

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Security adapts to 'mobile only' retail

Payments Source

By establishing its e-commerce fraud prevention system as a "mobile first" platform, Forter worked to get a step ahead of a growing trend — that many new retailers accept only mobile payments through their apps. Mobile technology Data security Device security

Customers don’t need a Social Security number for new Remitly bank account

Bank Innovation

Carousel Payments Product Design Retail Banking Chime N26 Passbook RemitlySeattle-based remittance startup Remitly is expanding beyond money transfers to a full suite of banking products for new arrivals to the U.S.

Report: 91 Pct Of Retailers Aren’t PCI Compliant


With retailers struggling to get compliant with the Payment Card Industry Data Security Standard , qualified security assessors are going to be in more demand and can offer tokenization as one way of achieving compliance. That’s according to TokenEx , which recently hosted a webinar to help retailers better understand tokenization.

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Today In Data: Striking A Balance Between Convenience And Security


At the same time, consumers also want a guarantee of security and a belief that their entire digital identity isn’t going to end up for sale on the dark web.

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PayPay Vows To Strengthen The Security Of Its Payment App


Japanese payment provider PayPay said Monday (Dec. 17) that it will strengthen the security of its app after receiving several complaints from users about charges that were made in error. Japan and Paytm, the India digital payments company, said it would make changes to the app and urged users to contact the credit card companies directly to report the charges. Bloomberg noted that PayPay has been questioned about the security of the app in the past.

Deep Dive: Security In The Time Of Faster Payments


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. Businesses and consumers are increasingly using real-time payments solutions for everything from payroll disbursements to settling insurance claims. Security strategies.

Merchants are slowing data security funding as threats accelerate

Payments Source

Retailers are decelerating data security spending, even as attacks become more sophisticated and merchants emphasize the types of multi-channel shopping that draws attackers. Security risk Data breaches Retailers Payment processing pso cardline lead 2

Fiserv: Merchants And The Need Multilayered Security In A Digital-First World


Tim Horton , head of global merchant security and fraud solutions at Fiserv , told a recent PYMNTS Masterclass that online purchases have more than doubled year on year in the general retail segment, while online grocery sales have surged by 250 percent. Online, they are providing payment credentials, a delivery address and very likely have created an account with the retailer,” he said.

Delivering Faster And More Secure Payments


The financial services landscape is moving to upgrade existing payment infrastructures or create new systems to deliver faster and more secure payments. In the business-to-business (B2B) space, efforts to truly transform payments are fraught with challenges. And, in retail, Unbound Merino could change the rules of hygiene with a line of clothing that can be worn multiple times, and design innovator Jony Ive is leaving Apple.

Apple Pay Trending Up as Target, Other Retailers Add Payment Option

Bank Innovation

Apple Pay was trending across social media today on news the payment option will soon be accepted at Target, Taco Bell and other major U.S. retailers. The company touted the service’s ease of use, security and speed at the register. Cards Commerce Exclusive Innovations Mobile Payments Premium Retail Sales & Marketing American Express Apple Pay contactless payments Discover Google Pay Mastercard Mobile Payments Samsung Pay Twitter Visa

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Securing The Growing Digital Opportunity


And that actually creates a massive opportunity for retailers of all kinds to jump into the digital market, he said, and grab some market share away from giants like Amazon that have been hit by an onslaught of orders. Retailers, merchants are realizing they can actively utilize those channels because for a lot of them it’s survival. But to make that opportunity real, it has to be reliably secure and able to move at the pace of a rapidly speeding up marketplace.