Mobile wallets are driving us towards a cashless world and the future seems imminent when digital wallets will outpace other payment methods. Consumers are getting comfortable storing their debit/credit cards, prepaid cards, gift cards, and bank account information digitally on their mobile devices for the convenience of payment. Below are some quick mobile wallet features
Category Archives: Data Breach
In 2018, 2.8 Billion consumer data records in the US alone were exposed with personally identifiable information (PII) making up 97% of the total information. As per recent reports published during January 1, 2018 to March 31, 2019, the compromised records led to losses totaling more than $654 Billion. Healthcare industry is by far the
In 2018, credit unions (CUs) added 5.02 Million new members, the fastest in the history that manifests the growing popularity of CUs. However, the financial landscape is consistently challenged by escalating fraud threats & data breaches. This makes it more difficult than ever to safeguard members’ money, especially for smaller CUs. Payment cards, Same Day ACH,
2019 ICBA Capital Summit – the finest platform for community bankers is going to take place at the Grand Hyatt Washington Hotel from April 28 to May 1, 2019. The Capital Summit for Independent Community Bankers of America (ICBA) is the place to be, if regulatory and tax relief, mortgage reform, and agricultural lending are at
Retailers are set to lose $130 Billion in digital/ CNP (Card-not-Present) fraud between 2018 and 2023 due to increasingly complex approaches adopted by fraudsters and slow adoption of advanced fraud prevention solutions by retailers. It is easier than ever to buy card details online as such details are being compromised on regular basis further facilitating
Quatrro Processing Services (QPS) is exhibiting its suite of advanced fraud prevention solutions at CUNA GAC 2019, Booth # 634 from March 10th to 14th, 2019 between 10 AM to 11 AM (GMT). This year, QPS showcases AI driven Fraud Reduction Early Detection (FRED®) Platform, enabling real-time cross channel fraud detection, monitoring and case management
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
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
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.
There’s a lot to be vigilant about for businesses between now and the year 2020. As we migrate to a world of real-time fulfillment and digital downloads, the response time to fraud attacks is constricting. Data security breaches and scams are becoming more sophisticated with card payment fraudsters elevating their game and empowered by technology.