Payment service provider PayGate says its automated fraud protection service PayProtector continues to save online businesses from lost revenue due to online fraud attempts. “At one regional airline in Africa we reduced their incidence of fraud from over a million rand a month to under R80,000 in just one month,” says PayGate’s general manager for
iovation, the trusted source for mobile and online fraud prevention, launched an updated solution for businesses to identify and prevent fraudulent mobile transactions while improving mobile user experience. The iovation Mobile Software Development Kit (SDK) leverages the world’s largest device behavior database to determine the trustworthiness of transactions conducted from iOS or Android phones and
Feedzai, a company that uses data science and behavioral profiling to prevent fraud, and Encap Security, the mobile authentication specialist, have announced a new partnership designed to support banks and merchants in making modern banking and commerce safe. The partnership will make Feedzai’s proven, machine-based fraud prevention platform compatible with Encap Security’s bank-grade, smarter authentication
Payment credential management specialist, Bell ID, has launched its Tokenization Manager software. The solution will be used by card issuers and merchants to enhance security and limit fraud by facilitating tokenized payments. EMV payment tokenization is the process of replacing a personal account number (PAN) with a unique identifier, known as a ‘payment token’. The
Tanzania has reportedly lost six million US dollars (over 10bn/-) so far through cyber-related fraud crimes, that involve mostly card skimming and Automated Teller Machine (ATM) thefts. Speaking at the fourth International Commission on Science and Technology for Sustainable Development in the South (COMSATS) conference in Dar es Salaam, the Permanent Secretary (PS) in the
Fiserv, Inc., a leading global provider of financial services technology solutions, announced its clients have begun reporting the results of using Fiserv tools and services to combat card-not-present fraud. Using the benchmark industry standard fraud loss of 8.3 basis points, Fiserv clients are performing significantly better than their peers. According to its calculations, Fiserv expects
Barclays, in partnership with Hitachi Europe Ltd. is ramping up the fight against fraud with the launch of the Barclays Biometric Reader, developed with Hitachi’s Finger Vein Authentication Technology (VeinID*) – a new, ground-breaking method for customer authentication in UK banking. By simply scanning their finger, customers will be able to easily access their online
In an ever-changing payments landscape, which is increasingly complex and fraught with risk issues and challenges, security is a top priority. MasterCard has been at the forefront of the fight against fraud for nearly 50 years. In line with this, the MasterCard Academy of Risk Management is hosting its annual Global Risk Management Conference Series
A global fraud study of more than 6,100 consumers across 20 countries revealed distrust among global consumers in retailers to protect their data. The new study, “Global Consumers: Concerned and Willing to Engage in the Battle Against Fraud,” is the second in a two-part series conducted by ACI Worldwide and Aite Group. Among other findings,
Fiserv, a provider of financial services technology solutions, has announced new real-time electronic payments monitoring capabilities to prevent fraud. The solutions protect clients from the ever increasing threat of payments fraud, covering both international and domestic payments for Automated Clearinghouse (ACH) and wire (Fed and SWIFT), and complement the enhanced SWIFT Sanctions Screening capabilities now
