article thumbnail

How PCI DSS Compliance Protects Australian Businesses from Data Breaches?

VISTA InfoSec

These updates include increased flexibility for businesses and stronger authentication requirements, ensuring better protection in todays dynamic digital landscape. million, which is said to have increased by 27% since 2020. The latest version PCI DSS v.4.0 You may also check our latest YouTube video on PCI DSS 4.0

PCI DSS 165
article thumbnail

The Journey of Payments and Clearing Systems in India

Finextra

Aadhaar Enabled Payment System (AePS) (2014): Leveraged Aadhaar biometric identity for financial inclusion, allowing basic banking services through biometric authentication at agent points. 24x7x365 Availability (2019-2020): NEFT and RTGS were made available round the clock, further enhancing real-time payment capabilities.

article thumbnail

The state of fraud in 2024: Key mid-year takeaways

The Payments Association

Despite the implementation of strong customer authentication (SCA) across the industry, fraudsters have adapted their tactics, often using social engineering methods to trick customers into revealing one-time passcodes (OTPs) required to authenticate transactions.

Scams 88
article thumbnail

Checkout.com Reflects on Intelligent Acceptance Success: Surpasses $10billion in Merchant Revenue

The Fintech Times

messaging, routing, authentication, credential lifecycle, and retries). Checkout.com has been able to capitalise on this evolving attitude as within the region specifically, Checkout.com witnessed a huge surge in digital payment volumes – between 2020 and 2023, they grew by 658 per cent.

article thumbnail

Top Types of Payment Fraud in Singapore in 2025

Fintech News

Notably, 29% of respondents prefer to shop at stores with higher security measures, while 21% say they like it when retailers ask them to provide their identity through second-factor authentication (2FA) as it gives them confidence that there is efficient fraud protection in place. Results of the business survey echo these findings.

article thumbnail

The Rise of Synthetic Identity Fraud in Financial Services

Fi911

This Frankenstein approach to fraud cost US lenders an estimated $20 billion in 2020, according to the Federal Reserve. Current requirements focus on document verification without mandating checks for identity authenticity. Risk-based authentication adjusts verification requirements based on threat indicators.

article thumbnail

Online Payments and the eCommerce Market in 2025

Clearly Payments

The table below highlights the steady increase in ecommerce sales over the past six years: Year Global eCommerce Sales (Trillions USD) 2020 $4.2 The adoption of biometric authentication, such as facial recognition and fingerprint scanning, has enhanced security while making mobile checkouts faster and frictionless. 35% 4 Japan 0.5

BNPL 59