CardFlash News Briefs: PURCH (ShopSavvy); CLEARANT (OpenCart); PAYCERTIFY (Paytronicks); and EC4IM (chargebacks).
The new CvvPlus real-time, dual-factor, out-of-band, fraud prevention solution authenticates cardholders conducting Card-Not-Present (CNP) transactions. This is the first product from FL-based Tender Armor.
Gemalto has unleashed Dynamic Code Verification, a comprehensive payment security solution that protects against Card-Not-Present (CNP) fraud on-line and ensures an easy user-experience cardholders have come to expect.
Retailer loyalty programs are not only increasingly digital in nature but also increasingly take any kind of payment”not just private label card payments. The multi-tender loyalty program trend to continue in force, with strong continued uptake over the next two to three years.
Fraud losses incurred by banks and merchants on all credit, debit, and prepaid general purpose and private label payment cards issued worldwide reached $16.31 billion last year when global card volume totaled $28.844 trillion. This means that for every $100 in volume, 5.65¢ was fraudulent.
CardWeb.com’s CardData database of Company Profiles today features DebitWay,
Zooz is teaming with CardinalCommerce to offer Cardinal Consumer Authentication (CCA) to its merchant base. With CCA, Zooz’s clients will enjoy the same protection for their card-not-present transactions that Cardinal’s Customers have relied on for years.
The third annual Key Business Drivers & Opportunities in Cross-Border E-Commerce survey is now open for input from merchants and payment professionals from around the world. Last year’s survey polled nearly 700 e-commerce and omnichannel merchants, payment service providers, acquirers and consultants, quantifying stakeholder attitudes about this increasingly important segment of payments.
U.S. Bank’s Elavon, provider of payment solutions has inked a multi-year agreement with Wyndham Hotel Group to integrate secure payment technology for approximately 4,500 of the company’s more than 7,600 hotels over the next 18 months.
Elavon, a leading provider of payment solutions and subsidiary of U.S. Bancorp (NYSE: USB) has signed a multi-year agreement with Wyndham Hotel Group to integrate secure payment technology for approximately 4,500 of the company’s more than 7,600 hotels over the next 18 months.
As the United States transitions to EMV, POS fraud will grow less lucrative. Higher-security cards will make counterfeiting substantially more difficult, if not impossible. Additionally, any encrypted or tokenized payment information will make data gained from compromised terminals useless for future POS transactions.
In today’s payment ecosystem, a complete security package is necessary. This is the payment security trifecta: EMV, tokenization and encryption and Gemalto has the upper hand.