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Adhering to Payments Card Industry (PCI) Data Security Standards (DSS) is an unavoidable requirement for any and all eTailers that accept card payments, but a surprising number of firms are not up to speed on these standards. billion by 2027, propelled by a compound average growth rate (CAGR) of 25.7
trillion by 2027, and more than half of all eCommerce shoppers buy from merchants abroad. consumers use credit and debit cards to digitally buy products and services, which is simply not the case in other parts of the world. The ongoing pandemic is fueling this demand for digital commerce options.
are paying with debit cards over cash for the first time. According to The Guardian , consumers used their debit cards 13.2 In addition, the use of contactless payment cards almost doubled to 5.6 million customers mainly used cash for their daily shopping last year, even though nine out of 10 of them had a debit card.
Blockchain is projected to own 10 percent of global GDP by the year 2027. Lingering Fraud Risk . cards in their wallets, and that the average email address is associated with more than 130 online accounts. . B2B Card Payments . B2B Card Payments . Blockchain Disruption . Switch, Inc.,
Paying with your mobile is rapidly moving towards becoming the new cash and in the process, replacing traditional credit and debit cards. As these numbers are trending upward, the mobile payments and transaction industry, which one of its main selling points is simplicity, is ripe for fraud and criminal activity.
The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”
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