Payments Dive

JANUARY 5, 2023

Industry efforts to fight card fraud are making an impact, with transactional losses per $100 trending downward, according to the Nilson Report.

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PYMNTS

FEBRUARY 13, 2019

Merchants saw a drop in card-present fraud due to the increased adoption of Europay, Mastercard and Visa (EMV) chip cards, Visa said. Merchants who have upgraded to chip technology saw a decrease of 80 percent in counterfeit fraud dollars in September of 2018 when compared to September of 2015. More than 3.1

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Payments Dive

NOVEMBER 10, 2024

In a new report, the card network detailed cyber schemes and scams that have led it to invest $11 billion over the past five years in improving its systems.

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Fraud System Cards Report 466

Payments Dive

FEBRUARY 7, 2023

Amex is the latest card company to tap a Google virtual card service aimed at increasing the security of online payments.

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Google Tools Fraud Cards 429

PYMNTS

DECEMBER 29, 2020

Consumers have more heavily leaned on debit during the pandemic, with the economic downturn making shoppers more cautious than ever about the prospect of taking on credit card debt. A recent study even estimates that shoppers could ultimately shift $100 billion worth of annual spending from credit cards to debit cards.

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PYMNTS

SEPTEMBER 21, 2020

And consumers want to pay with their preferred methods, across cards or digital wallets. Artificial intelligence (AI) can improve the eCommerce experience – not just in terms of warding off fraud, but also in making sure payments can be processed efficiently and that the most effective payment gateways are accessed.

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Fraud Payments Cards Security 311

PYMNTS

AUGUST 14, 2020

For instance, Mendlowitz noted that Mastercard said on its recent earnings call that more than 50 percent of April transactions were card not present (CNP) or contactless — a 40 percent increase from the year earlier. “The Fraud prevention should never be a problem that the merchants have to worry about.”.

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Payments Dive

APRIL 19, 2023

million judgment against a group of Nexway companies over processing payments tied to tech support scams, but they’ll ultimately pay the smaller fine for defrauding consumers. A court initially imposed a $49.5

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PYMNTS

JULY 2, 2020

But the bad news is that fraudsters see a once-in-a-lifetime opportunity to jump into the increased flow of transactions, Gary Sevounts , executive at fraud detection firm Kount , told PYMNTS in a recent conversation. He added that fraudsters have been showing up across the board in terms of fraud types attempted.

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Fraud Cards System Tools 280

PYMNTS

NOVEMBER 19, 2020

Wells Fargo is beefing up its digital payments arsenal with a new service aimed at business customers. 19) announced in a press release that it is adding a new solution to its WellsOne Virtual Commercial Card , enabling business customers to digitally pay invoices to suppliers and others. The financial services giant on Thursday (Nov.

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Payments Dive

SEPTEMBER 29, 2022

Credit card fraud tops the list of growing threats, but P2P and newer payment vehicles are quickly catching up, according to a recent poll of industry executives.

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PYMNTS

APRIL 22, 2020

Paay, a startup credit card database storing millions of transactions, has been unsecured for weeks and only now closed again, according to a TechCrunch report. The database works with other payment processors, verifying payments to make sure there is no fraud going on for outside vendors.

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Cards Payments Fraud Data 243

Payments Dive

NOVEMBER 17, 2023

Better spelling on fake merchant sites and more advanced card skimmers are among the latest schemes that will be deployed by fraudsters during the year-end holiday shopping season.

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Fraud Cards 435

Payments Dive

MARCH 20, 2023

Apto Payments and Sardine are joining forces to offer commercial customers issuing cards better anti-fraud tools.

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Payments Dive

JANUARY 16, 2024

The card issuer is selling the business, which offers online fraud monitoring services to merchants, to the joint venture investment firm Accel-KKR.

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Fraud Cards Online 259

South State Correspondent

OCTOBER 16, 2024

While there are many overlooked products in banking, the debit card is perhaps the greatest. The product generates significant fees and helps drive deposit balances, yet debit cards rarely get a mention in strategy, marketing, or customer profitability circles. Debit Card Profitability We will start with debit card profitability.

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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. The Face of Fraud.

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Fraud Strategy Security Cards 273

Perficient

NOVEMBER 30, 2022

Our Payments Practice recently had the opportunity to represent Perficient at the 2022 Real-time Payments & Fraud Management Summit held in New York City. . Real-time payments are going mainstream. . These services are different from NACHA’s “Same Day ACH,” or Card Network solutions.

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Payments Dive

DECEMBER 19, 2024

The card network attributed the spike in fraud partly to criminals adopting artificial intelligence to execute their schemes.

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Fraud Cards 221

Abrigo

JANUARY 24, 2024

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. Use this guide to understand available tools and the steps AML and fraud teams should take. You might also like this FedNow implementation guide with details on appropriate AML/CFT and fraud considerations.

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Fraud Payments Software Policies 221

Payments Dive

MARCH 25, 2024

The card network giant identified 556,000 card accounts that were put at risk as a result of the cybercrime ring BidenCash’s release of data online in December.

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Cards Fraud Online Data 221

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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Fraud Security Data Cards 242

PYMNTS

OCTOBER 8, 2020

Ingo Money CEO Drew Edwards told Karen Webster that instant payments pose just such an attraction to fraudsters who hope to not only exploit security holes to get paid, but to get paid faster than ever before. . “I I think fraud will go up as awareness goes up,” he said. But clawbacks don’t exist in the world of instant payments.

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Payments Fraud Technology Innovation 307

PYMNTS

NOVEMBER 17, 2020

The number of real-time payments has risen dramatically in recent years, and APP fraud has grown alongside it. The nature of these payments means that, once they have been made, consumers cannot reverse them. Bad actors typically perpetrate APP fraud in several ways. APP Fraud Ramps Up.

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Fraud Payments Survey Security 223

Payments Dive

JULY 17, 2018

For banks, direct debit fraud represents a bigger financial risk than card fraud.

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Security Payments Fraud Cards 268

PYMNTS

OCTOBER 5, 2020

In the wake of the pandemic, B2B payments have had to evolve. But in an interview with PYMNTS, Mary Beth Joiner , senior vice president of relationship management at Comdata Corporate Payments, said that there have still been pockets of resistance in making the great digital pivot.

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Payments Dive

APRIL 15, 2024

Card programs can increase purchase authorization rates without taking on undue fraud-liability risk with 3-D Secure (3DS). Here’s what it is and how card issuers can leverage it.

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Cards Fraud Security 243

PYMNTS

SEPTEMBER 22, 2020

The growth in digital transactions is also spurring a boost in friendly fraud, which occurs when legitimate customers either knowingly or unwittingly claim that they did not make legitimate purchases and seek reimbursement for them. It also analyzes how focusing on the customer experience can help prevent such fraud in the first place.

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Fraud Mobile Tools Study 255

PYMNTS

NOVEMBER 16, 2020

Real-time payments continue to gain traction around the world. The country’s banking system is giving an upgrade to its instant payments system. Called PIX , the new payment rails have been in the works for some time and launched last week. Case in point: Brazil. It will be fully operational starting Monday (Nov.

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PYMNTS

FEBRUARY 12, 2020

Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal data breaches were among the favored attack patterns last year. As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses.

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Fraud Handbook Security Comparison 253

PYMNTS

SEPTEMBER 30, 2020

Long before the pandemic, consumers were trending toward digital in their financial services relationships — experimenting with mobile wallets, digital cards, self-service mobile banking and digital gifting. Firms must position themselves to take that valuable top-of-wallet card location with consumers.

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Cards Tools Community Bank System 334

PYMNTS

NOVEMBER 17, 2020

Onboarding these customers can be a tedious challenge prone to fraud and consumer frustrations, and the industry faces the ever-looming threat of SIM swap fraud. Customers still face potential fraud threats once they are signed up, with SIM swap fraud being a particularly common foe.

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PYMNTS

JUNE 22, 2020

A cyberattack from Maze ransomware against global business and tech firm Cognizant mostly hit the company’s corporate cards that had been issued to employees, the company told authorities, according to The Times of India. Also, the FBI has been called to assist with finding out the perpetrator.

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Cards Fraud Course Report 257

PYMNTS

OCTOBER 30, 2020

Here, Machicao explains how his firm helped clients protect themselves from escalating fraud risks with the COVID-triggered wave of CNP payments. The payment and fraud landscape is almost unrecognizable today compared to just a few short months ago. The following is an excerpt from What Did You Change?

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Fraud Resources Policies Online 224

PYMNTS

DECEMBER 30, 2020

Virtual cards and straight-through processing (STP) are poised to get more attention from buyers and suppliers as the pandemic recedes. Suppliers, he said, have traditionally been less amenable to commercial card payments, but are increasingly starting to accommodate buyers’ payment preferences.

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Cards Regional Payments Data 262

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. . Lying In Wait .

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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