As the European Banking Authority (EBA) develops its Regulatory Technical Standards, and as the EU Member States consider the detail of PSD2, any regulation governing online payments should enable and encourage the e-commerce sector to balance the twin considerations of risk and convenience (otherwise growth would be stifled and costs would increase).
Visa Europe says a nuanced and segmented risk-based approach is required for e-commerce. If you have already determined that a transaction is legitimate, there is absolutely no need to force a customer to authenticate themselves.
CardWeb.com’s CardData database of Company Profiles today features SailPointTechnologies.
FICO TRIAD, a cloud-based version of its account management solution is now available as a hosted solution on the FICO Analytic Cloud. With FICO TRIAD Cloud Edition, credit grantors can test, automate and improve decisions for credit and debit cards, deposit accounts, loans, auto financing and other credit products.
Anyone paying attention knows credit unions and banks have had their card interest income business models under siege since 2008. So it no surprise that renewed attention has been turned instead to fee income models, and ways to boost that increasingly important revenue stream.
The FDIC stopped neutrally enforcing regulations designed to protect consumers and ensure the safety and soundness of the nation’s banks, and then pursued their own personal political agenda and attempted to shut down legal businesses these officials did not like.
Tripwire risk-based security and compliance management solutions, announced Ken Westin, security researcher for Tripwire, will present at ToorCamp 2014. Westin has researched how organized crime rings, including those with connections to Russian and Eastern European groups, generate revenue through credit card theft. These groups profit through shoplifting, identity theft credit card skimming and other forms of fraud. Westin will discuss several cybercriminal cases he helped crack and attendees will learn key elements of the credit card black market. the connection between credit cards and the exploit market and how stolen credit cards fuel other forms of retail fraud.
R.K. Hammer, in this 3rd of their annual series of year-end card industry reports, indicates that the card business saw a fee income decrease of $2.6 billion in 2013, compared to 2012; $79.9 billion vs. $82.5 billion a year earlier. New regulations and legislation continues to have an impact. Post-recession card fees have been fairly flat for the past five years, according to R.K. Hammer…
TSYS released its white paper titled “EMV is Not Enough: Considerations for Implementing 3D Secure.” The paper considers the impending U.S. migration to Europay, MasterCard, and Visa (EMV) chip to combat fraud, but concludes that there are additional steps issuers must consider to mitigate fraud risk. This report concludes that there are clear lessons to be learned in the U.S. from the UK’s introduction of EMV ” and the resulting rise in card-not-present fraud. The paper discusses how the increase in card-not-present fraud coupled with the growth of e-commerce should lead issuers to consider deploying a risk-based authentication on the 3D Secure protocol. 3D Secure, the paper indicates, is a robust and effective method for providing information to issuers and online merchants to combat fraud while simultaneously providing a smooth and interruption-free shopping experience to cardholders.
TSYS announced the release of a white paper titled “EMV is Not Enough: Considerations for Implementing 3D Secure.” The paper considers the impending U.S. migration to Europay, MasterCard, and Visa (EMV) chip to combat fraud, but concludes that there are additional steps issuers must consider to mitigate fraud risk. This report concludes that there are clear lessons to be learned in the U.S. from the UK’s introduction of EMV ” and the resulting rise in card-not-present fraud.
Equifax expands risk-based authentication capabilities within the Identity and Fraud product suite. Trends show that businesses want to improve the end user experience and reduce intrusive authentication methods while still maintaining security for online transactions and reducing fraud. A risk-based strategy that can segment safer transactions from riskier ones allows businesses a flexible way to balance risk, consumer friction, and cost. Our risk-based technology includes pattern and velocity detection, device recognition and risk score, and financial account validation, among other criteria. These risk factors combine within automated transactional decisioning to give business a workflow that challenges users with the most appropriate authentication based on the risk presented by the person, their location, and the task.
Anyone near the credit card business knows credit unions and banks have had their interest income business models attacked since 2008 – prompted by a “perfect storm trilogy” of a depression-like recession, an improving yet still painful economic recovery with card members becoming more cautious in their spending habits, and legislative changes which forever altered…