Here’s why payments providers can no longer afford to ignore or misunderstand cloud technology. Cloud is a key factor in the expected growth of the digital-payment gateway market to $416 billion by 2024. Non-bank players, from big tech to e-commerce giants to fintech startups, are leveraging the fearsome capabilities of …

Consumers’ usage of debit cards has finally surpassed that of credit cards. Through the second quarter of 2022, 56.2% of consumers preferred debit as their primary payment card, compared to 39.5% for credit, according to a report from S&P Global Market Intelligence. Those numbers represent a dramatic change in the …

In response to consumers’ growing concerns over the security and management of their personal data by businesses with which they interact, ATB Ventures on Thursday introduced its Oliu platform, a set of identity products aimed at helping businesses safely manage and verify the credentials of consumers they interact with digitally. …

One country—the United States—accounts for 46% of all ransomware attacks, a sobering statistic revealed in a new report from NordLocker, a European cybersecurity provider. Yet, within the 50 states, not all have the same propensity for the nefarious attacks, NordLocker says, which analyzed multiple databases of ransomware incidents that affected …

Virtual payment cards have been around for more than a decade, but now they appear to be poised for big growth with the rise of e-commerce and the wide availability of digital wallets. Indeed, the volume of transactions arising from these cards will balloon from 28 billion worldwide this year …

In an effort to combat the rise of financial crimes, such as fraud, Socure Inc. has enhanced its know your customer (KYC) identity-verification solution. Socure says the update gives customers stronger tools—such as reason codes and field-validation intelligence, which tests the results of machine-learning models against live data—to verify the …

As criminals shift to strategies that rely on psychology as much as technology, a whole new approach is necessary. Tony Carothers is the security systems engineer at Corpay, a FLEETCOR company. The remote-work era brought on by the Covid-19 pandemic has made it even easier for criminals to execute payment-fraud …

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 …

Online attacks in which criminals seize control of victims’ data are rising, and government agencies are far from immune. That’s now leading states to consider laws prohibiting state agencies from paying ransoms to get the decryption key that would unlock what are often vital files. North Carolina in May and …

To make modern fraud detection technology more accessible to community banks, Jack Henry & Associates Inc. late Thursday announced plans to launch early next year Financial Crimes Defender, a cloud-native platform for detecting fraud and other suspicious account activity that can hurt consumer’s financial health, as well as financial crimes, such …