Thursday , March 28, 2024

Search Results for: account takeover

SpotOn Beefs up Restaurant Services And Other Digital Transactions News briefs from 10/19/22

SpotOn, a payments provider specializing in the restaurant industry, launched Experiences by SpotOn Reserve, a reservation and waitlist platform.Checkout.com launched Fraud Detection Pro, aimed at helping online merchants combat bot attacks, account takeovers, synthetic identities and other newer fraud technologies.Payments provider Paysafe Ltd. said it will support payments for U.S. hotels via a …

Read More »

Electronic Verification Systems Launches New Front-End Card Authentication Tech

Electronic Verification Systems, a provider of identity- and age-verification solutions, early Monday announced the launch of AssurePay, a credit card-verification platform that EVS says authenticates consumer credit card information at the beginning of the payment process, instead of while the card data is being held for processing. To validate a …

Read More »

Argyle Payments Launches And Other Digital Transactions News briefs from 7/11/22

Payments professionals Joseph Daly and Eric Kellogg announced they formed Argyle Payments LLC, an independent sales organization that will focus on small and midsize merchants in high-margin specialty markets.Buy now, pay later provider Klarna AB closed on an $800-million funding round aimed at bolstering its stance in the U.S. market. The round values the …

Read More »

Fraudsters Favor Content Scams to Bilk Consumers Out of Crypto And Other Assets

The confluence of the explosion in digital transactions the past two years, hyper-inflation, and pent-up consumer demand has created a perfect storm that is allowing fraudsters to lure consumers into online traps that result in financial losses. A recent report from Sift Science Inc. reveals that such scams account for …

Read More »

Eye on Fraud: Fraudsters Earn More Than CEOs; Fraugster Launches BNPL Risk Model

Criminals are cashing in on cybercrime in a big way. A new report from Arkose Labs reveals that experienced or “master” fraudsters can pull down up to $7.2 million annually and that rookie fraudsters can earn as much as $20,000 per month with an investment of as little as $5 …

Read More »

Losses From Stolen Identities Skyrocketed 79% to $24 Billion in 2021, a Javelin Study Finds

Payments providers are increasingly resuming business-as-usual as the pandemic eases, but so are criminals. Losses from identity-fraud schemes, in which fraudsters use stolen payment credentials for their own gain, soared 79% last year to $24 billion, according to a study released Tuesday by Javelin Strategy & Research. Moreover, this so-called …

Read More »

COMMENTARY: How Artificial Intelligence Is Helping BNPL Providers Stay Secure

Lax credit checks, minimal personal data requested, and fast loan approval. What’s not to love about buy now, pay later (BNPL) options if you’re a cybercriminal? From creating fake identities to exploiting flaws in providers’ data-management tools, bad actors have been quick to take advantage of these fast-growing, convenient finance …

Read More »

Outseer Plans Fraud-Detection Apps for Emerging Payments, Starting With BNPL

Given the wild success of buy now, pay later loans, it’s no surprise fraudsters have found a way to get in the game. To help card issuers offering BNPL installment options post-purchase reduce the risk of fraud, Outseer, an authentication subsidiary of Bedford, Mass.-based data-security services provider RSA, on Wednesday …

Read More »

When Fraudsters Take a Vacation

Theft of loyalty points has become a serious issue in the travel industry. But is it being taken seriously by hotels and airlines? With a new year comes new optimism that there will be a return to activities like travel. Some consumers will log in to book travel for the …

Read More »

Trends Like Open Banking And BNPL Will Sustain E-Commerce’s Hot Streak, a Report Says

Open banking, single-click checkout wallets, and the hot buy now, pay later trend will all help drive e-commerce volume worldwide in the coming five years, predicts Juniper Research in a report released Monday. This momentum is likely to push online sales long after the short-term impetus from the pandemic subsides, …

Read More »
Digital Transactions