2018 Will Herald Arrival of New Tools in the Fight Against CNP Fraud

Retailers stand to lose $71 billion globally from fraudulent CNP (Card-Not-Present) transactions over the next five years. Factors, such as the USA’s shift to EMV cards, delays in 3DS 2.0 (3D-Secure) and click-and-collect fraud were key drivers behind the rise. New data from Juniper Research has found many merchants still perceive combatting fraud as too…

Visa + MC Intl Q1 GAC +8% YOY — A/P Region Most Robust

Visa and Mastercard international gross (open) payment card accounts (GAC) for the first quarter (1Q/17) grew an adjusted 7.5% year-on-year (YOY). International credit GAC was up 14.5% YOY and international debit GAC soared 33.2% in 1Q/17, both unadjusted, according to CardData. Visa began including Visa Europe in its operational performance reports as of 3Q/16. Visa…

Discover & Capital One Emerge as Leaders in Mobile Apps for Cards & Banking

When it comes to mobile apps Capital One ranked highest in the retail bank category while Discover ranked highest in overall satisfaction in the credit card category. According to the “J.D. Power 2017 U.S. Banking App and U.S. Credit Card App Satisfaction Studies”: • Ease of use/navigation is the most heavily weighted driver of satisfaction among…

Soaring Online Fraud Impacts Company’s Revenue, Loyalty, and Reputation

Six out of 10 survey respondents (including 55% with a CFO title) had seen both the number and dollar amount of credit card chargebacks increase since the introduction of EMV chip cards. Furthermore, 64% of those surveyed (including 62% of CFO-titled respondents) measured increases in both the number and dollar amount of credit card chargebacks…

Fraud and Risk Scoring Tool Melds With Artificial Intelligence Machine Learning

A new machine learning fraud score helps prevent fraud while reducing false-positives and improving customer experience. TSYS has teamed with Featurespace to launch TSYS Foresight Score with Featurespace. Foresight Score is a fraud and risk scoring tool that allows software to learn over time without being explicitly programmed — to bolster an issuer’s ability to…