As fraud grows more sophisticated, tokenization and encryption have become the foundational components of payment security at the point of sale and online. Without tokenization and encryption technology, it’s a safe bet that today’s ever-increasing volume of digital payments, at the point of sale and online, would not be what …

The cost of fraud to U.S. merchants increased 4.2% in 2022, up from $3.60 to $3.75 for every dollar lost to fraud. That’s the latest from the 2022 edition of the LexisNexis Risk Solutions “True Cost of Fraud Study: Retail and Ecommerce” report released Tuesday. The metric had been $3.13 …

In recent times, we have witnessed an explosion in the neobanking sector, with emerging digital-only providers benefiting from rapid digitization. Now, as this sector begins to mature, companies must find a way to retain customers that may want to transition back to traditional banking companies. To do so, businesses in …

Car IQ Inc. has inked a deal with petroleum company Sunoco LP to allow Sunoco’s fleet customers to purchase fuel without a credit card. Businesses, government agencies, and other organizations participating in Sunoco’s fleet program will be able to pay for gas at nearly 5,000 Sunoco stations by summer’s end …

Consumers’ loss of funds to fraud and other deceptive activity on peer-to-peer payment networks has drawn the attention of U.S. Senators, who are demanding answers on the matter from the big banks that own the Zelle P2P network. The senators’ actions come as P2P activity has boomed in response to …

As the buy now, pay later trend moves upstream to higher-ticket markets, the assumption of bigger debt loads brings with it a need to communicate more closely with consumers. Point-of-sale credit, which took off in e-commerce during the pandemic, is reaching markets like health care, and on Wednesday a customer-communication …

Central bank digital currencies are still a relatively new payment method around the world, but now they’re starting to address the issue of user authentication, and at least one is doing it with facial-recognition technology. PopID Inc. on Thursday announced holders of the Bahamian Sand Dollar, one of the first …

Mastercard Inc. says the future of payments at the point of sale includes the ability to make a point-of-sale payment using a facial image without having to present a credit or debit card or a mobile device. Under its new Biometric Checkout Program, Mastercard has begun testing the service, the …

By Tracy Kobeda Brown – VP of Programs and Technology and Leo Parrill – Content Manager, MRC   The annual Global Payments and Fraud Report, produced in collaboration with Cybersource, Verifi, and the Merchant Risk Council, serves as a valuable benchmark in the payments and fraud prevention space, providing insight …

With consumers—and criminals—flocking to e-commerce, card issuers and merchants are not only experiencing a significant increase in fraud, but also in so-called friendly fraud committed by cardholders who dispute legitimate purchases after the fact. As a result, merchants’ need for stronger cardholder verification tools is growing. To address that need, …