Home Archive for category "Industry News"
formats

Global Spending to Increase on Fraud Detection, Cybersecurity and Big Data Analytics

Multiple studies and sources are coming to the same conclusion: organizations will be spending more on risk management and data analytics to keep up with growing fraud and business trends. This includes $9.2 billion spent on online fraud prevention services, $170 billion spent on cybersecurity and over $200 billion spent on big data analytics globally

(More)…

 
Comments Off on Global Spending to Increase on Fraud Detection, Cybersecurity and Big Data Analytics.
formats

Both Card Present and Card Not Present Fraud Grew in 2016

According to estimates from Javelin Strategy and Research, there was an 8 percent increase in U.S. consumers impacted by payment card fraud at the point-of-sale in 2016, while those victimized by card not present fraud grew at a much larger rate. Although the industry was bracing for an increase in CNP fraud with the rollout

(More)…

 
Comments Off on Both Card Present and Card Not Present Fraud Grew in 2016.
formats

Wal-Mart Makes Another Major eCommerce Move in Uphill Battle Against Amazon

Amazon has a stronghold as the largest eCommerce merchant in the United States, comprising as much as 43 percent of all U.S. online retail purchases in 2016. Wal-Mart, the largest brick-and-mortar retailer in the U.S., is one of the largest U.S. online retailers as well, but with online volumes less than one-fourth that of Amazon.

(More)…

 
Comments Off on Wal-Mart Makes Another Major eCommerce Move in Uphill Battle Against Amazon.
formats

Alibaba Spin Off to Acquire MoneyGram for $880 Million

Ant Financial Services Group, the Alibaba Group affiliate formerly known as Alipay, announced the acquisition of major money remittance company Money Gram for $880 million. While already the online payments leader in China, this acquisition would greatly increase Ant’s international and U.S. presence, with the acquisition expected to close in the second half of the

(More)…

 
Comments Off on Alibaba Spin Off to Acquire MoneyGram for $880 Million.
formats

Black Friday Sets New U.S. Total Online Sales Record, Surpassed by Cyber Monday Days Later

Consumers continue to shop more online and from their mobile devices on Thanksgiving, Black Friday and Cyber Monday with another record-setting year. Black Friday 2016 turned out to be the third largest desktop eCommerce shopping day of all-time  in the U.S., but Adobe, including mobile commerce, estimated online Black Friday sales to reach $3.34 billion,

(More)…

 
Comments Off on Black Friday Sets New U.S. Total Online Sales Record, Surpassed by Cyber Monday Days Later.
formats

Consumers Were Much More Likely to Shop with Mobile Devices Online Rather than In-Store This Black Friday

Although mobile eCommerce sales accounted for $1.2 billion on each Black Friday and Cyber Monday, consumers shopping in-store were much less likely to pull out their smartphones. According to one payment processor, just 0.6 percent of brick-and-mortar retail transactions in the U.S. on Black Friday were made with a mobile wallet. According to data from

(More)…

 
Comments Off on Consumers Were Much More Likely to Shop with Mobile Devices Online Rather than In-Store This Black Friday.
formats

The Fraud Practice and CardinalCommerce Launch the 4th Annual Consumer Authentication Survey

The Fraud Practice and CardinalCommerce launched of the 4th Annual Consumer Authentication Survey this week, extending an open invitation for all eCommerce and multi-channel merchants, acquirers, card issuers, payment service and fraud solution providers to take the survey and provide feedback that can help shape the industry. Take the 4th Annual Consumer Authentication Survey today

(More)…

 
Comments Off on The Fraud Practice and CardinalCommerce Launch the 4th Annual Consumer Authentication Survey.
formats

PCI Council Joins EMVCo in Support of 3-D Secure 2.0 Protocol

In the beginning of 2015 EMVCo announced they would be responsible for further developing the 3-Domain Secure 2.0 Specification, taking over for Visa and MasterCard. Now just a few months before the expected release of 3DS 2.0, EMVCo and the Payment Card Industry (PCI) Security Standards Council jointly announced they will be collaborating to support

(More)…

 
Comments Off on PCI Council Joins EMVCo in Support of 3-D Secure 2.0 Protocol.
formats

MasterCard Launches Identity Check App Supporting ‘Selfie’ Authentication for SecureCode

MasterCard released their Identity Check app in early October, which is now available in 12 countries across Europe and set to be released globally in 2017. While this app has gotten the most attention for it’s ‘selfie pay’ feature, supporting the use of facial recognition in place of a password, it additionally supports fingerprint biometrics

(More)…

 
Comments Off on MasterCard Launches Identity Check App Supporting ‘Selfie’ Authentication for SecureCode.
formats

As SEC Investigates Yahoo Breach, FTC Reiterates Need for Federal Breach Notification Laws

Following a data breach involving over 500 million accounts and a delay in notifying the public or impacted parties, the Securities and Exchange Commission (SEC) started an investigation into the Yahoo data breach at the request of a Senator. Later at a Senate Committee meeting the Federal Trade Commission (FTC) cited the Yahoo breach reiterating

(More)…

 
Comments Off on As SEC Investigates Yahoo Breach, FTC Reiterates Need for Federal Breach Notification Laws.
© The Fraud Practice LLC 2012