Fraud & Security

With a rapidly expanding e-commerce market, online fraud-detection and -prevention efforts are poised to grow over the next few years. Merchants are expected to spend $9.3 billion annually on these efforts by 2022, says Juniper Research. That’s a 22% increase from the 2017 spending total, though it pales in comparison …

As the nation’s automated clearing house network gears up to introduce same-day debits in September, observers are warning that faster processing is likely to open the door to more fraud unless businesses and financial institutions adopt new policies. Some caution the ACH network’s experience so far with same-day credits, which …

What’s the future of electronic payments? For many consumers, it’s one that incorporates biometrics for authentication and payments, finds a survey from Viewpost IP Holdings LLC, a business-to-business payments provider. In the survey of more than 1,000 U.S. consumers, Viewpost found that 50% believe fingerprint technology—already in use with many …

When fraudsters launch a cyber attack, they may not be their target’s worst enemy. Equally troublesome could be the business’s own staff, according to results of a survey of 5,000 companies around the world released Monday by Kaspersky Lab, a Moscow-based global cybersecurity firm. It turns out employees not only …

With much of the payments business focused on mobile payments, merchants are making progress in dealing with the payment method but are still lagging in key areas, such as the ability to identify overseas transactions, according to survey results released Thursday. Risk-detection, in particular, is an area where results are …

With concerns about card-not-present fraud rising, e-commerce merchants have increased their usage of 19 of 21 fraud-detection tools since 2010, some by more than 30 percentage points, according to a recent report from the Federal Reserve Bank of Kansas City. The only tool whose usage declined was 3-D Secure, which …

• The National Retail Federation announced that senior vice president and general counsel Mallory Duncan plans to retire at the end of August. Duncan joined the trade group in 1994 as general counsel and is a staunch advocate for merchants’ interests on payments issues. He plans to consult on payments and …

A new survey from American Express Co. finds that 37% of consumers abandoned an online purchase because they have concerns about the security of the transaction. The 2017 American Express Digital Payments Survey, released Tuesday, also finds that, despite these concerns, 47% of consumers increased their e-commerce purchasing frequency in …

By Jim Daly@DTPaymentNews North America remains by far the source of most data breaches investigated by Trustwave Holdings Inc., a big security-services and technology provider that operates worldwide, and the retail industry takes the lead in breaches despite the coming of EMV chip card payments to the U.S. Those are …

• PNC Bank N.A. said its Visa commercial cardholders can use their cards in Apple Pay and Samsung Pay, a move that PNC said makes it one of the first U.S. banks to enable mobile wallet payments for its commercial cards. • A survey from Vesta Corp. found that 62% of 155 …