By Douglas Hall, Publisher, PaymentsNEXT As if shopping cart abandonment, false credit card declines, and the pandemic aren’t causing enough problems for retailers and online sellers, chargebacks continue to be a pain in the profits. In fact, Chargebacks.com estimates for every $100 in chargebacks, the true cost ...
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Cybersecurity
Cybersecurity
While the popularity of e-gift cards is growing, it’s also accompanied by an increase in malicious attacks with the onset of COVID-19. Among the brands protected by PerimeterX, the company saw e-gift card attacks stay fairly steady in the e-commerce vertical, however since the COVID-19 ...
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Merchants, payment gateways, credit card issuers, and banks and have long battled the problem of orders falsely declined as part of fraud prevention programs often operated in isolation by partners in the payments system. Experts estimate losses to merchants could be as high as 10% ...
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With the rise of e-commerce and digital payments during the COVID-19, new research by TransUnion shows fraudsters are also getting in on the action. The recent report showed an 11% increase worldwide in risky fraud transactions it defined as denied or reviewed because of fraud ...
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“Bank heist! How insiders stole millions and threatened the cybersecurity of more than 12 million South African bank customers.” It’s got all the makings of a made for the movies bank robbery. This was a criminal plot to steal the 36-digit code and “master key” ...
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With a third of the global population on lockdown and scores of bank branches closed, many are convinced that branch banking is dead, and the future is branchless. Is this really true? Branchless alternatives like Revolut, N26, Monzo, and NuBank let customers achieve the same ...
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A new quarterly analysis of global online fraud trends found the telecommunications, e-commerce, and financial services industries were increasingly impacted along with Millennials among the victims most targeted by fraudsters using COVID-19 scams. Global fraud and identity solutions company Trans Union used the March 11, ...
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A large payments database owned by New York mobile payments processor PAAY left millions of credit card and other payments transactions exposed for more than three weeks before a security researcher found the security failure. Security researcher Anurag Sen discovered the database on PAAY’s server ...
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New research from business news site The Manifest shows 15% of US small businesses suffered a hack (7%), virus attack (5%), or data breach (3%) in 2019. The good news is nearly two-thirds of business owners and managers claimed they will increase their cybersecurity resources ...
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Last week, both the FBI and the IRS issued warnings of increased business and consumer fraud during the COVID-19 pandemic. Research from security experts at Proofpoint shows the problem is Business Email Compromise (BEC) has been growing exponentially in the past year and accelerating during ...
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