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Senate Panel Sends Fee Signal; APP Fraud To Balloon; Fiserv and ADP Team up
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APP Fraud To Reach $7.6 Billion by 2028 in Six Countries, ACI Says
Authorized push payment fraud could reach $7.6 billion in six markets, ACI Worldwide Inc. says in its latest Scamscope report. Released Wednesday, the report looks at APP fraud in the United States, United Kingdom, India, Brazil, Australia, and the United Arab Emirates, all markets with real-time payments. APP fraud happens …
Read More »Online Shoppers Love-Hate Relationship with Generative AI; Sift Releases New Fraud Benchmarking Metrics for E-Commerce
Despite 71% of online shoppers being unaware they are interacting with generative artificial intelligence, about half say they see value in the technology when it comes to personalizing the online shopping experience and would be willing to share personal data to receive a more customized shopping experience, says a recent …
Read More »The Impact of Lower POS Hardware Sales; Issuers’ Post-Fraud Opinion Bump; More Grocers Pick Instacart
Nearly Half of Consumers Say They’re More Satisfied With Their Card Issuer After Suffering Fraud, As Fraud Remains a Threat
Despite the ever-present threat of fraud, almost half of consumers tend to have a more positive opinion of their credit card issuer after becoming fraud victims, according to J.D. Power’s “U.S. Financial Protection Satisfaction Study,” released Thursday. Some 49% of credit card holders say they have a more positive impression …
Read More »Blackhawk Readies eGift Cards; Stiffening Payments Fraud Defenses; Shift4’s ConnexPay Tie-in
COMMENTARY: It’s Time to Stiffen Defenses Against Payment Fraud
Recent headlines prove that payment fraud continues to pose an ever-growing threat to businesses of all sizes. As payment methods evolve, so do the sophisticated tactics employed by fraudsters, creating a payment-protection predicament for businesses. According to the Association for Financial Professionals, 80% of organizations were victimized by payment fraud in 2023, …
Read More »Eye on E-Commerce: Paze on Track for 150 Million Enrolled Cards; Transaction Details Vital in Worldpay’s FraudSight Cap One Tie-in
With the holiday shopping season about to start in earnest, payments companies are preparing their clients—merchants and issuers—for the increased volume of both legitimate and fraudulent transactions. New checkout entrant Paze says with more than 125 million cards enrolled in the e-commerce payment option it anticipates reaching the goal of …
Read More »Eye on Payments: Nvidia’s AI Fraud Detection Tool; RTP’s Ongoing Use Grows
The evolution of artificial-intelligence tools toward countering credit card transaction fraud took another step with the launch of a new AI workflow from Nvidia Corp. Meanwhile, the RTP network from The Clearing House Payments Co. LLC finds that 90% of organizations’ counterparties whom they send to or receive instant payments …
Read More »The Top 2 Digital Fraud Schemes of 2024 That Every Business Should Know
Online fraud schemes are on the rise across the globe. In fact, data breaches reached an all-time high last year, with an increase of 78% year-over-year between 2022 and 2023*, and that threat continues to escalate as fraudsters find new ways to beat digital security solutions. “There’s a lot of …
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