Machine learning fraud detection systems could save card issuers and banks $12 billion annually
Adaptive behavioural analytics software reduces 'genuine transactions declined' by over 70% and incidence of undetected fraud by 25%.
Indian digital payments market to hit $500bn by 2020 - Google
India is set for a digital payments revolution, with the value of transactions set to hit US$500 billion by 2020, ten times its current level, according to research from Google and the Boston Consulting Group (BCG).
MasterCard Sees Continued Momentum in U.S. EMV Adoption
March 31, 2016 - Americans are quickly embracing EMV chip cards, just six months after the latest milestone in the migration timeline. While consumers increasingly dip their cards to pay in-store, progress has been made by both card issuers and merchants.
EMVCo Updates Payment Tokenisation Specification to Introduce 'Payment Account Reference'
March 29, 2016 - Global technical body EMVCo has released a bulletin updating the EMV® Payment Tokenisation Specification – Technical Framework to provide the payment community with a global, consistent framework to implement 'Payment Account Reference' (PAR). To be used by merchants, acquirers and payment processors, PAR can enhance security by limiting references to a cardholder's primary account number (PAN) in the payment ecosystem.
AmEx warns card members of merchant data breach
March 17, 2016 - American Express is writing to some card members warning that their account information has been compromised by a data breach at a third party provider.
Cryptomathic joins PCI Security Standards Council
February 29, 2016 - Cryptomathic, a leading provider of crypto solutions, announced today that it has joined the PCI Security Standards Council as a new Participating Organisation.
Heartland and Smart Card Alliance team on payments security training centre
February 17, 2016 - Heartland Payment Systems (NYSE: HPY), one of the nation's largest payment processors, today announced it has worked with the Smart Card Alliance to launch the National Center for Advanced Payments and Identity Security, a new training facility hosted by the Alliance.
US sees repercussions from EMV as criminals switch tactics
February 2, 2016 - Incidents of new account fraud in the US doubled last year, as criminals switched tactics in response to the introduction of EMV chip cards.
