PayPal has announced plans to replace passwords with passkeys, adding a new level of security while catering to a growing cohort of consumers who want password-free commerce. “Passkeys are a new industry standard created by the FIDO Alliance and the World Wide Web Consortium that...
3DS 1, 3DS 2.1, 3DS 2.2. These acronyms should be crowding merchants’ minds as fines loom this fall for those who are not in compliance with the latest version of the 3D Secure protocol for authenticating eCommerce card transactions. But the state of readiness for...
Next-generation facial biometric technology has the ability to speed up verification, detecting a real person in seconds. Global digital identity verification and authentication provider Onfido introduced a new solution for its recently-released Real Identity Platform to deliver seamless, secure, and inclusive customer verification, according to...
“Historically, the financial services industry has been plagued by paper and offline spreadsheets,” Patrick Nealon, vice president of strategy at Fidel API, told PYMNTS in a recent interview. “But we’re moving toward automation of those tasks through secure connections between FIs and software developers.” While...
In the context of eCommerce, strong customer authentication (SCA) refers to the steps merchants need to put in place to confirm that the person making a purchase is indeed the rightful beneficiary of the bank account from which the funds are being transferred. In practice,...
Protecting against digital fraud is a top priority for organizations, considering the cybercrime threats arrayed against them. The average American has been harmed by at least seven data breaches since 2004, according to one study, and there have been more than 2.3 billion account compromises...
A customer received a call from someone saying he was a representative at his bank. The representative said someone had warned them that a person at the bank was planning to hack the customer’s account. Together, they could catch this crook, but to do this,...
As the enemy of conversion, checkout friction is in the crosshairs of players in the sector as more are making moves to apply friction more deftly to comply with regulators and minimize fraud while also growing sales. On Wednesday (Aug. 17), London-based retail technology firm...
Customer onboarding is a crucial step in any business relationship. Its most critical task is user authentication, as unprotected onboarding represents an Achilles’ heel to fraud for any company. For legitimate customers, onboarding serves an equally crucial purpose: setting the tone for the entire customer...
