Australian credit card gross dollar volume (GDV) declined 3.0% year-on-year (YOY) in February. Purchase dollar volume (PDV) increased 1.2% YOY and cash dollar volume (CDV) dipped by 14.5% YOY in February, according to CardData. There had been growing concerns in 2016 credit card spending was slowing down, and now the proof is in pudding for…
Synthetic identity fraud is emerging as a key migration point in the post-EMV era, as criminals refocus on application fraud and exploit easy access to sensitive consumer data. According to Auriemma Consulting Group (ACG) fraudsters are using that data to create fake personas – hybrids of stolen and fabricated personal information – and open new…
While financial institutions (FIs) are rapidly shifting to digital and mobile banking to increase interactions with customers, they can benefit by enabling “mobile cash access” for account holders. This method essentially lets a banking customer substitute a smartphone for an ATM, debit, or prepaid card and its associated PIN to withdraw cash at an ATM…
FL-based Blue Dog Business Services is launching Fetch, a mobile card reader that allows businesses to accept EMV chip credit card payments on the go. The new mobile reader technology allows you to manage inventory, customer receipts and tipping options with real-time reporting. Two Blue Dog Fetch card readers will be available. One tethers to…
Soramitsu has partnered the National Bank of Cambodia (NBOC) to co-develop the open source distributed ledger project, Hyperledger Iroha. Through a co-development deal, NBOC will study the implications of distributed ledger technology, while contributing to the open source development of Hyperledger Iroha and developing new payment infrastructures. Distributed ledger (blockchain) technology is what powers decentralized…
A lack of comprehensive, practical, real-world cybersecurity testing is leaving gaps in the defense of major companies. According to a new report from Accenture, Building Confidence: Solving Banking’s Cybersecurity Conundrum, found 78% of executives surveyed expressed confidence in their overall cybersecurity strategy, with more than half the respondents indicating high levels of comfort in their…
More than over 80% of ATMs and POS terminals in Kazakhstan now accept UnionPay cards and will likely top 95% by the end of the year. Ther are over 1.3 million UnionPay cards issued in Kazakhstan. With the initiation of 2017 “China Tourism Year” in Kazakhstan, UnionPay International announced the implementation of the Belt and…