Synthetic Identity Fraud & Application Fraud Driving Payments Execs Bonkers

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…

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Stodgy Bankers Fail to Grasp Transactions are Consolidating to Mobile Devices

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…

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New EMV/NFC Mobile Card Readers Offer Extensive Payment Management Tools

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…

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National Bank of Cambodia to Test Blockchain Distributed Ledger Technology

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…

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Cyber Breaches & Internal Breaches – Growing Problem for Banks Worldwide

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…

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ADS Q1 Exceeds Expectations – Segments Pumping on All Cylinders

Dallas-based Alliance Data Systems (ADS) reported first quarter (1Q/17) year-on-year (YOY) profits declined but Loyalty One, Epsilon, and especially Card Services, all posted strong first quarter YOY performance, according to CardData. ADS reported gross revenue rose 12.1% YOY in 1Q/17 to $1879 million, compared to $1828 million for 4Q/16, and $1676 million for 1Q/16. Net…

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PayExpo Europe Ready to Disrupt the Payments Status Quo

Bringing the entire European payments ecosystem together to disrupt the status quo and evolve the payments marketspace is all set for October. PayExpo Europe will attract more than 2,200 attendees, over 150 speakers and 75+ exhibitors. The event will be held October 4-5, Excel, London. PayExpo Europe returned to the ExCeL London for its forth…

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Debit Cards More Secure with Growing Popularity Among Small Businesses

Purchases of goods and services totaled $9.550 trillion in 2015, up 3.4% year-on-year (YOY). The four card-based methods of payment of credit, debit, prepaid, and electronic benefits transfer generated $5.665 trillion in purchases or 59.32% of all consumer payment systems volume. Credit cards accounted for $2.932 billion, 30.70% of volume. Debit cards accounted for $2.420,…

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Free Chip and Swipe Card Reader for In-Person Selling in U.S. is Here

With Europay, MasterCard and Visa (EMV) support, the new Chip and Swipe reader lets any Shopify merchant in the United States sell offline in a fast and secure way. The card reader was launched at Unite, Shopify’s annual partner and developer conference. Shopify makes every aspect of starting, running and growing a business easier. With…

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