As payment companies expand ways for consumers to make digital payments, 62% of North American merchants, bankers, and fintech providers expect more such payments within the next two years, says Forrester Research Inc. in its “Understanding the Evolving Payments Landscape” report released Monday. Commissioned by Visa Inc., the report also found …
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Cardless Transactions Are Driving Debit Growth, A Trend Fraudsters Have Noted
Consumers are making more debit card transactions without the physical card, and fraudsters are taking notice, according to a major study released Thursday. Transactions such as e-commerce payments, push payments, and peer-to-peer transfers using the accounts backing debit cards, but not the plastic itself, are rising dramatically, according to the …
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In the Post-EMV World, Online Fraud May Decline, but Watch Out for Email Compromises
Fraud-control executives and researchers predicted card-not-present fraud would boom when the U.S. converted to EMV chip cards a few years ago, and, sure enough, it did. But if the experiences of other countries that adopted EMV before the U.S. are any guide, Americans can take relief in that CNP fraud …
Read More »Automating Online Fraud Prevention; ACH Posts Highest Growth Rate Since 2008; Plus Weekly Recap
Facing a Big Jump in U.S. CNP Fraud, Retailers Turn to Automated Tools
With merchants facing a projected 16.4% increase in U.S. card-not-present fraud by 2021, many are relying more and more on automated screening tools to cull bad transactions from the pile of good ones. That’s the assessment from Aite Group Inc. in its report, “The E-Commerce Conundrum: Balancing False Declines and …
Read More »Amazon’s Payments-Palooza Days; Synthetic ID Fraud Scourge; Priority Unit Joins Billtrust Network
How Merchants Got Stuck With Card Fraud
The history of battling fraud within rules set by the card networks has been a somber one for merchants. And the picture isn’t likely to brighten any time soon. It used to be when a merchant got an authorization—an approval from a card-issuing bank resulting from a request by the …
Read More »Terrorism and Payments Fraud; POS Credit Resonates With Debit Card Holders; eBay’s Payments APIs
Eight Percent of North American Payments Fraud Is Related to Terrorism, Report Finds
While most North American payments fraud is related to identity and organized crime, one area—terrorism—stands out in this region compared to other developed markets. Eight percent of the 154 criminals cases reviewed by information-security firm Terbium Labs in its “The Next Generation of Criminal Financing: How Payment Fraud Funds Transnational …
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