E-Commerce

First Data Corp. is hoping that its scale—it says it processes more than 2,800 transactions per second coming from more than 6 million merchants—will give its new Fraud Detect service an edge in thwarting fraudulent transactions. Announced Thursday, Fraud Detect uses artificial intelligence and machine learning, fraud scoring, cybersecurity intelligence, …

Merchants’ actual fraud costs are up for the third year in a row and their total fraud-related expenses also are rising, according to the latest True Cost of Fraud study from LexisNexis Risk Solutions. Fraud as a percentage of the revenues reported by the 653 retailer risk-control executives surveyed for …

With e-commerce taking an ever-greater share of total retail sales and mobile commerce accounting for an ever-greater share of e-commerce, merchants need to start treating m-commerce fraud control as more than a subset of online fraud control. That was the word Tuesday from Susan Pandy, the director of payment strategies …

TransferWise started out as an upstart processor enabling international remittances, but now it’s expanding into a much bigger arena. On Tuesday, it announced the availability of virtual accounts that let small businesses pay and receive payments internationally as if they had a local account. The service, called Borderless Account, covers …

The payments industry is going to have to make some changes to ensure the long-term success of digital consumer-to-business payments. U.S. digital sales are thriving, and consumer demand will only continue to grow. According to a report from the U.S. Department of Commerce, U.S. online retail sales nearly quadrupled in …

Remember the Pokémon GO craze? The game was a megahit because it cleverly combined the physical and digital worlds. It added an augmented contextual layer so players could use smart-phone map and camera functions to interact with characters, other players, and game elements. What if a similar augmentation toolkit were available …

Shareholders of MoneyGram International Inc. voted overwhelmingly in favor of Ant Financial Services Group’s planned $1.2 billion acquisition of their company, Dallas-based MoneyGram announced Tuesday. A preliminary tally shows 97% of the shares voted were in favor of the deal and represented more than 82% of all outstanding shares, MoneyGram …

• Visa Inc. announced that its 3-D Secure 2.0 program will begin in April 2019. 3-D Secure 2.0 is a measure managed by EMVCo that shares e-commerce transaction data between merchants and issuers in an effort to thwart fraudulent transactions and approve valid ones. EMVCo released the updated spec in October 2016. • Visa said grocer …

Online merchants looking to increase their sales volume may want to consider offering instant financing. A study by Researchscape International reveals that 75% of respondents would be more likely to purchase from an online retailer that offers instant financing than one that does not. Another 28% said they would be …

Criminals purchasing stolen credit card data know they have a short window of opportunity to cash in before the accounts are shut down. Manually sifting through the hundreds, even thousands, of accounts bought in bulk can take more time than criminals have, which is why they are increasingly relying on …