Fraud & Security

The switchover of gasoline stations in the United States to the EMV chip card standard has been a work in progress, but now products are emerging that can secure card data at the pump through a technology known as point-to-point encryption. Payments provider ACI Worldwide Inc. early Tuesday said it …

The risk of being defrauded by online sellers is a major concern for consumers this holiday-shopping season, according to a survey by Socure Inc., a provider of identity-verification and fraud-detection technology. And consumers are poised to blame not just the fraudulent sellers, but the marketplaces that host them, the survey …

Stablecoins have come in for government scrutiny in recent weeks, but use of this blockchain-based technology to enable immediate business-to-business payments between bank clients is moving forward nonetheless. Late Thursday, Tassat Group Inc. announced Phoenix-based Western Alliance Bank will use the company’s TassatPay technology to allow business clients to pay …

The holiday-shopping season is a busy time not just for merchants and consumers, but for criminals, too. Fraud attacks are projected to increase by at least 50% this holiday-shopping season, and will most likely surpass the 56% increase in attacks during the 2020 holiday season, according to Arkose Labs.  Fraudsters …

Consumers have relied more heavily on payments apps and other fintech technologies since the onset of the pandemic, but few are aware of how much control these apps have over consumer data, according to a survey released Wednesday by The Clearing House Payments Co. LLC. In fact, consumer confidence in …

Shoppers have flooded online shopping sites in response to the pandemic, and now stores are expecting a further bonanza of e-commerce sales as consumers flock to sites for Black Friday and Cyber Monday deals. But while these two annual shopping extravaganzas will boost sales, they also are likely to have …

Some 74% of consumers who tried using contactless cards this year plan to keep using them, up from 61% who said the same thing last year, according to a report from the Electronic Transactions Association and The Strawhecker Group.Humbl Inc. released a new version of its Humbl Pay mobile wallet, including upgrades …

Consumer concerns about slow deliveries and worldwide inventory issues means some 45% of holiday-season spending this year will go to gift cards, according to survey results from consumers in 10 countries gathered by Blackhawk Network Holdings Inc. That represents a 27% increase in gift card spending from last year’s holidays, Blackhawk says. …

It’s well-known by now that e-commerce activity is on a sharp upswing, but the underside of that trend is that fraud is rising fast, as well. Phishing attacks, for example, hit a record high in July, according to the Anti-Phishing Working Group, which on Monday released its report for the …

As data compromises of various sorts continue to threaten the security of digital payments, the Accredited Standards Committee X9 Inc. this week issued a standard it says covers both data protection and breach notification. The new standard, “Financial and Personal Data Protection and Breach Notification,” also known as X9.141, is …