Payment Security
Banks risk losing 89% of SME business to fintech challengers
Source: Capgemini
New payment methods (instant payments, e-money, mobile and digital wallets, account-to-account, QR codes) are leading the charge with consumers, but the looming threat of recession and growing inflation rates coupled with continuing geopolitical issues, is posing a whole host of new challenges.
Paytm unveils fraud risk management platform, Pi
Source: Paytm Labs
Paytm Labs, the advanced R&D division of fintech giant Paytm, has launched Pi, an ML-powered fraud risk management (FRM) platform designed for fintechs, banks and eCommerce marketplaces with high transaction volumes.
Marqeta: 77% of Gen Z favour mobile over physical wallets
Source: Marqeta
Marqeta, the global modern card issuing platform, has today released its 2022 State of Consumer Money Movement report looking at consumer payment, banking and shopping preferences, showing digital adoption is on the rise.
Visa and Mastercard join Russian blockades
Mastercard and Visa have blocked multiple financial institutions from their payment networks in response to Russia's invasion of Ukraine.
CellPoint Digital teams up with Cybersource to help merchants fight fraud
Source: CellPoint Digital
CellPoint Digital, the global leader in payment orchestration, today announces it has teamed up with Cybersource, a Visa solution and a recognized worldwide leader in payments management, to provide merchants with a holistic solution for fraud management capable of aggregating transaction data across multiple acquirers.
Nationwide stops 2000 more frauds a month with SCA rules
Nationwide Building Society says that the introduction of Strong Customer Authentication (SCA) rules in March is helping it stop 2000 cases of online card fraud a month.
PayPal reveals 4.5 million accounts were ‘illegitimate’, shares plummet
Discussing Q4 earnings with analysts, PayPal CFO John Rainey disclosed that 4.5 million accounts had been shut down after “bad actors” took advantage of incentives and rewards programmes, resulting in shares falling by 25%, according to Bloomberg.
Federal Reserve delays ISO 20022 cutover by two years
The Federal Reserve is to delay the implementation of the new ISO 20022 payment messaging format by two years to 2025.
Marqeta adds risk control suite to card issuing platform
Source: Marqeta
Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced its new RiskControl solution, a comprehensive product suite to help its customers better optimize their card programs and take control of end-to-end risk management.
Federal Reserve reports "unprecedented" decline in in-person payment cards volumes
Source: Federal Reserve
The Federal Reserve on Wednesday issued an update to the Federal Reserve Payments Study (FRPS) to include findings from recent survey data.
Flagstar Bank hackers steal data on 1.5 million customers
US-based Flagstar Bank has suffered a data breach that has hit over 1.5 million customers.
UK e-commerce market projected to exceed £260 billion by 2025, Worldpay from FIS study finds
Source: Worldpay
The UK’s e-commerce market, already the world's third largest, is forecast to grow by nearly 26 percent through 2025 to reach over £260 billion in transaction value, according to a new report released today from financial technology leader FIS® (NYSE: FIS).
Australia suffers 9.2% rise in Y-o-Y fraud on payment card transactions
Source: AusPayNet
Data released today by the industry self-regulatory body Australian Payments Network (AusPayNet) shows a 9.2% rise in fraud on payment card transactions in the 12 months to 30 June 2021 (FY21) alongside an increase in online spending during COVID-19 lockdowns.
