Proving and authenticating an organization’s digital identity is one of the biggest struggles for companies mitigating business-to-business (B2B) payments fraud. PYMNTS’ data finds that nearly half of firms surveyed, 49%, recognize that verifying new business customers’ identities is an important challenge they have to address,...
Digital fraudsters’ popular image is that of a shadowy cabal of hackers, either leveraging sophisticated algorithms to break into corporate systems or tricking individual consumers into giving up their funds, data or login credentials. This image is undoubtedly credible, but a considerable portion of digital...
In the July "Digital Fraud Tracker®," Jake Doering, founder of wellness drink company Ujji, tells PYMNTS how dynamic discount codes and tailored communications can help companies prevent the growing number of consumers who abuse merchant policies.
With the surge of credit card transactions during the pandemic is the seemingly inescapable cascade of disputes and chargebacks that eat into profits and create back-office havoc. Many companies still handle disputes and chargebacks in-house, while an increasing number are finding that third parties specializing...
There is a proliferation of individuals who abuse chargebacks, promotions, returns or merchant and financial services firms’ policies to get free merchandise or payouts, often in plain sight. This so-called first-party fraud — thus named because fraudsters often use their own identities rather than concealing...
Credit card transaction volume during the past two years has presented something of a model of the rest of the economy since the pandemic began — a sharp drop-off, followed by a rebound. Credit card transaction volume jumped 26% in 2021, and accompanying this increased...
To quote that old song: “To everything there is a season.” And payments, there are seasons for disputes. In an interview with Karen Webster, Verifi CEO Sara Craven said that the summer looms as fertile ground for disputed transactions as companies struggle to keep...
Payment information company SurePay has teamed up with Virgin Money to help the company implement its U.K. Confirmation of Payee (CoP) solution to guard consumers against fraud and misdirected payments, the companies said Monday (June 13). According to a news release, the solution lets consumers...
If knowledge is power, then data is money. That is, data directs merchants and brands to who’s spending and on what, making it a precious substance in the commercial world. Moreover, consumers are getting digitally savvy. In 2022 they better understand the value of their...
