The frequency of cyber thefts, hacks, and fraud are increasing at an alarming rate projecting a highly challenging future. Rising and more frequent data breach incidents are taking headlines globally. Big names like Microsoft, Paypal, Netflix were the top targets for phishing attacks in 2018. Ever sharpened tools used by fraudsters have been impacting businesses
Category Archives: Financial Institution
Monday, 26 November is one of the most awaited Online Shopping Days of the Year and it’s just around the corner. It is the time that everyone waits and while you free your purse strings for buying your favorite gadget, tool, and various products available at mega discounted prices. While eCommerce and mobile payment volumes
Fall is upon U.S., signaling businesses to plan for one of the busiest time of the year-the holiday season. Halloween day has just passed and merchants are aware that Thanksgiving Day is just few days away, marking the craziest and most challenging time of the year in retail. The thanksgiving weekend sales extend through Cyber
This spring, QPS is heading to Park City for Unite 2018 – CU Prodigy Annual Meeting and this year is going to be a year of idea generation, problem-solving and empowerment. Team QPS will showcase its cross-channel detection and prevention solutions to credit unions, helping them effectively combat fraud and enhance member experience. QPS’
Crime typologies are shifting. Today, Fraudsters have a global reach and an easy access to vast data collected as a result of data breaches. This makes the problem pertaining to the security of consumers’ personal information never-ending. As we progress to 2018, fraudsters discover new ways to contaminate the space for more money providing an
The world might seem smaller in this digital age probably as a result of the diversity of online business, payment landscapes and the resulting singularity of fraud patterns. The continued year on year growth in online shopping fueled by consumers’ demand poses significant challenges to merchants. The dynamic e-commerce business shows no signs of abating.
In a world of digital transactions and open communication, payments habitat is vulnerable to credit card fraud. Credit card fraud can be disruptive to an organizational framework, damaging a business’s credit report and can often be taxing for a company to investigate its root cause. To avoid premature discovery, fraudsters engage in low-level testing also
Non-traditional merchants are challenging the established matrix of the payments industry, leading towards customer-centric innovation. In the contemporary scenario, customers were increasingly demanding higher levels of service delivery and value added offerings from merchants. If merchants don’t adopt these technological innovations, they will remain in jeopardy of being overshadowed irrespective of their strong traditional fabric.
Same Day ACH, Phase III is set to take the center stage in March 2018, setting a high standards for global banking eco-system. It is developed as an immediate solution to respond to market demand, from both businesses and consumers, to move money faster. Post March 16, 2018, all financial institutions (FIs) are required to provide end-of-day
The fast mushrooming identity theft related tax fraud has emerged as the Gordian knot of the payment industry. As fraudsters scoop up consumer’s data, organizations face the challenge of optimizing consumer experience to stay ahead of the pack. Being a multi-million dollar industry in the US alone, tax fraud is expected to wipe off whooping