Gift card fraud and credential stuffing, a technique in which criminals use stolen account credentials to gain access to legitimate user accounts, ran rampant during the fourth quarter of 2020, according to research by Arkose Labs, a San Francisco-based provider of fraud-prevention technology. Criminals launched 3.6 million attacks on gift …

Consumers continue to show affinity for using mobile wallets for payments with debit-based mobile wallet use growing at 59.6% for the week ending Jan. 31, compared to the week ending Feb. 2, 2020, according to the PSCU Tracking Transaction Trends report. Credit-based mobile wallet use was up 35.7%. The results include the …

Is your bill-pay provider setting you up for success? Use this checklist to decide. According to popular legend, the first online payment was made in 1994, for a Pizza Hut pepperoni and mushroom pizza. Whether that holds true or not, online payment processing has grown by leaps and bounds since …

New technologies like pay-by-link and click-to-pay will get a workout this year. With 2020 unlike any other year in our history, it is certainly challenging to predict what the future may hold. One thing is clear, though. There has been an extreme shift in consumer behavior, and that shift is …

The data networks that connect payments and other financial apps to users’ bank accounts are scrambling to standardize data access by moving to application programming interfaces and away from an older, cruder form of access known in the business as “screen scraping.” The effort comes as financial apps gain popularity …

Over the last 24 months, organizations across the globe have experienced $42 billion in total fraud losses. An increasing number of businesses report higher losses related to fraudulent identities year over year, according to a report from Experian, from 51% in 2017 to 57% in 2019. Here are some of …

The data networks that connect payments and other financial apps to users’ bank accounts are scrambling to standardize data access by moving to application programming interfaces and away from an older, cruder form of access known in the business as “screen scraping.” The effort comes as financial apps gain popularity …

As merchants, consumers, and payments providers wrestle with the Covid-19 pandemic, one thing is certain: Online fraudsters are as relentless—and opportunistic—as ever. If little else, this year has proven that forecasts are grounded only in the moment they are made. No one could have foreseen in 2019 the impact of …

Most of us will opt to pay a higher price at Amazon, which already holds our financial and private data, rather than pay less and expose our data to a merchant with unknown security practices. The net result is that the megastores keep getting bigger, and newcomers are stifled, however …

Online criminals are now launching most of their phishing attacks from domains secured by the HTTPS protocol—and they’re hijacking the sites they need to do it, according to the latest report from the Anti-Phishing Working Group, a security-industry organization that tracks the crime. Some 77.6% of phishing sites in the …