Payment Security
E-commerce fraud attacks decline on 3DS revisions
Revisions to the 3DS security protocol have helped drive down e-commerce fraud by 36% in the past 12 months, despite a significant uptick in online shopping, according to an analysis by LexiNexis Risk Solutions.
Instant payments and e-money to account for 25% of all non-cash transactions by 2025
Source: CapGemini
Payments are entering a new experience-driven era (Payments 4.X[1]), ushered in by an accelerated transformation timeline due to COVID-19 and the growing digital appetite of customers, according to the World Payments Report 2021 published today by Capgemini.
Americans trust banks over fintechs and Big Tech with personal data
Americans trust traditional banks more than government agencies or fintechs - and far more than Big Tech - to safeguard their personal data, according to a BIS survey.
PayMongo and Vesta partner to offer fraud and risk detection for online payments in the Philippines
Source: PayMongo
PayMongo, a Manila-based online payment processing platform, today announced its partnership with Vesta, a fintech pioneer in fraud protection and fully guaranteed payment technologies, to further enhance the company’s advanced fraud detection capabilities.
DBS fortifies payments security with new self-managed card payment control features
Source: DBS
All 3.6 million DBS/POSB debit and credit cardholders today are now able to determine and personally manage the security access on their card accounts via the most comprehensive suite of payment control features available in Singapore.
European Payments Council issues RfP for real-time malware platform
The European Payments Council has issued a Request for Proposal to find an outsourced service provider for a new Sepa-wide Malware Information Sharing Platform to address real-time payments fraud risks.
Mastercard taps AI to help banks fight off cyber risks
Mastercard has unveiled an AI-powered suite of tools designed to help banks assess cyber risks across their ecosystem and prevent breaches.
Evervault scores PCI DSS compliance
Source: Evervault
Evervault, a company building simplified encryption infrastructure for developers, today announced it has successfully achieved compliance with the Payment Card Industry Data Security Standard (PCI DSS), which mandates how payment card data is secured and maintained.
Square buys $170 million worth of bitcoin
Source: Square
Square, Inc. (NYSE: SQ) has posted its results for the fourth quarter and full year of 2020 on the Financials section of its Investor Relations website at investors.squareup.com and filed these results with the Securities and Exchange Commission.
Target2 experiences total system failure, Sepa payments delayed
A complete failure of all payment transactions within the Target2 system was experienced for several hours on Friday, with backup systems and contingency modules also initially unable to function.
Hackers steal more than $90m from Liquid crypto exchange
Japanese cryptocurrency exchange Liquid says hackers have compromised some of its wallets and stolen more than $90 million.
Square's Dorsey hits out at FinCen crypto rulemaking proposal
Source: Square
Re: FinCEN Docket No. FINCEN-2020-0020, RIN 1506-AB47. (Proposed Rulemaking on Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets.)
Verizon reports sharp decline in PCI compliance
Source: Verizon
Global organizations continue to put their customers’ cardholder data at risk due to a lack of long term payment security strategy and execution, flags the newly released Verizon Business 2020 Payment Security Report (2020 PSR).
