Its too soon to connect the U.S. EMV migration to a statistical spike in e-commerce crime, but fraudsters already could be reacting to the growth in new chip cards and fast consumer credit approvals by turning to new account fraud, according to Javelin Strategy & Research.
U.S. merchants are still reluctant to embrace 3D Secure technology to protect card-not-present transactions, even though it has vastly improved from the initial tedious version that irritated consumers more than a decade ago.
Super Bowl attendees are predicted to spend an average of $82.19 on food, decor, team apparel and more, up from $77.88 last year. Total spending for Super Bowl 50 is expected to top a whopping $15.5 billion.
For many e-commerce merchants, the migration to EMV-chip card security at the point of sale and the expected shift of fraud to the Web is akin to a message in a bottle that hasn't washed ashore. Too many simply don't know about it.
Bank of America's blockchain patent push shows how bankers' attitudes toward the technology of cryptocurrencies have changed over the last few years from dismissing it, to sizing it up to trying to protect their interests in it.
Fraudsters focusing on attacking account creation apparently like the trend of merchants storing consumer payment data to make repeat purchases easier for shoppers.
The question of big data resilience is now analogous to the global warming situationits a reality with staying power.
A Federal Reserve task force has issued criteria for its faster payments initiative, part of a long journey to build a framework to securely and efficiently accommodate the near real-time processing for digital commerce.
Rather than partner with a startup, 45-year-old Equitable Bank in Canada created a separate brand, EQ Bank, to acquire customers who are ready for an account without a debit card. read more »