UnionPay International and the Central Bank of UAE inked an agreement over ATM cooperation recently in Abu Dhabi, agreeing to enable UnionPay card acceptance by all ATMs in the UAE for cash withdrawal and balance inquiry.
More than nine out of ten finance professionals firmly believe EMV cards will be effective in reducing POS fraud. In addition, 61% believe chip-and-PIN will be the most effective authentication method in mitigating credit/debit card payments fraud.
Smartphone solutions will drive the biometrics market for the foreseeable future. Existing smartphone hardware provides a relatively stable foothold for some authentication modalities but rapid advances in the biometrics field will drive further smartphone hardware upgrades.
The dawn of the rise of the mobivores is upon us. Mobile-only users (aka mobivores) make up about 15% of a typical financial institutions’ mobile banking user base. Mobile-only users are defined as those who access their accounts using only their smartphones.
The U.S. bank credit card industry remained tightly concentrated in 2014, based on outstandings, with the top 5 issuers controlling nearly half of the market, the top 10 issuers holding a two-thirds share and the top 50 maintaining an 88% share, according to CardData.