Digital identification firm Prove Identity is partnering with financial firms and mobile carriers in the U.K. and using its Trust Score to step up the fight against authorized push payment (APP) fraud and scams. Prove’s Trust Score aims to help banks better fend off APP...
More business is going into digital channels and will continue to, and that fact is driving historic spikes in online fraud that are holding businesses back and costing opportunity in the process. For the study “Reframing Anti-Fraud Strategy: Developing A Proactive Approach To Fraud Risk...
Digital payments are taking the world by storm, with their total transaction value expected to hit $8.5 trillion by the end of this year. Gone are the days of electronic payments being solely the domain of large corporations via wire transfer, with peer-to-peer (P2P) payment...
Today’s businesses are not only battling economic uncertainty — they are also fighting fraud with tools that many feel are inadequate. Recent PYMNTS research reveals that nearly half of businesses are turning away new clients because they doubt their current anti-fraud measures are sufficient, yet...
Digitizing payments has increased ease of use and transaction volumes, but both check and ACH fraud are still commonplace. In this month’s "Digital Fraud Tracker," PYMNTS talked with Seth Ruden, senior director of fraud operations for First Tech Federal Credit Union, about crafting a holistic...
Digital payments are quickly becoming the new normal, but there is still a sizable contingent of consumers that prefer cash or paper checks. A recent study found that the proportion of individuals leveraging digital payment methods hit 82% in 2021, an increase from 78% in...
Sometimes the biggest threats come from the foes who pose as friends, spinning tales that seem legitimate and often urgent. And then comes the realization: You’ve been scammed. Eric Kraus, V.P. and general manager of Fraud, Risk and Compliance Solutions at FIS, told PYMNTS that friendly...
David Excell, founder of Featurespace, tells Karen Webster how cloud-based and other advanced tech are finding scammers while also surfacing better insights so that legitimate customers have a better experience.
The average business has lost nearly one-half of one percent (0.43%) of its credit card payment revenue to card transaction disputes in the past 12 months, according to “Dispute-Prevention Solutions,” a PYMNTS and Verifi collaboration based on a survey of 301 merchants in four business...
