There’s a widely held belief that clamping down on fraud in one area will lead to it popping up somewhere else. There is some truth to this — fraudsters favor the points of least resistance. But there are also major exceptions.
In recent weeks three surveys have been released that assess the U.S. fraud landscape across all of these audiences. These reports provide a holistic snapshot of where payments fraud in the U.S. is today.
There are a number of tactics and solutions organizations can employ to shut down the favored methods of fraudsters, including the use of bots and device compromise, writes Michael Lynch, chief strategy officer at InAuth.
Most U.S. merchants faced a 2015 deadline for EMV compliance, but gas stations have until 2020. Those extra years bring with them an assortment of new technology that can fundamentally change the ways motorists fuel up.
Some of the most important work in payments happens before the transaction, when retailers have to make sure their devices can handle the new technologies and card types that are about to get thrust upon them.
Gemalto’s business boomed a couple of years ago at the peak of the U.S. EMV migration, but when new card orders tapered off and payments technology turned in new directions, the company’s profits got hammered.
Atos SE made a 4.3-billion-euro ($5.06 billion) unsolicited bid for Gemalto NV with the backing of the French state’s investment bank, seeking to create a European leader in cybersecurity, digital technologies and payment services.