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US Debit Card Usage Soars as Consumers Embrace Convenient Payments

The Fintech Times

US consumers are increasingly turning to debit cards for their everyday transactions, driving a significant surge in the number of transactions and overall spending. On average, active debit cardholders completed 34.6 transactions per month, including 30.7 ATM transactions.

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Deep Dive: Why ML Plays A Key Role In Debit Issuers' Fraud-Fighting Strategies

PYMNTS

Being too restrictive can result in a slew of false positives, however, irritating consumers whose cards are declined and frustrating merchants as would-be customers abandon their carts. Addressing security concerns is no trivial pursuit for debit issuers, as they incurred more than $1 billion in net fraud losses in 2019. 3D Secure 2.0

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PULSE Debit/ATM Network Taps New Product Management, Operations Leaders

PYMNTS

The nationwide debit/ATM network PULSE has tapped Jennifer Schroeder to serve as its executive vice president for product management, the company announced Wednesday (Jan. A Discover Financial Services company, PULSE is one of the nation’s leading debit/ATM networks. billion transactions. percent in 2017 to 6.7

ATM
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FICO’s Take On Debit Security

PYMNTS

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. A Big-Picture Approach To Thwarting Debit Fraud. Get the full scoop in the Tracker.

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How FIs Can Win The Battle Against ‘Smarter’ Payments Fraud

PYMNTS

In the old days, it was ATMs and the point of sale [POS],” he said. In looking for activities that can point to anomalous behavior at a specific point of transaction, governed by a set of rules, Lerdal pointed to ATM-slamming. This is when an ATM that typically does five transactions per hour from 8 a.m.

ATM
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PSCU: Debit Card Spend Growth Above Historic Levels

PYMNTS

Credit union service organization (CUSO) PSCU compared the 19 th week of 2020, which concluded on May 10, to the same timeframe in 2019 to discover the impact of the pandemic on consumer spending and shopping trends. The average debit card purchase amount rose 19.9 percent jump in debit card spend for the week ending May 10.

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Radius Bank: Virtual Debit, Mobile Tools Help Banks Fight Debit Fraud

PYMNTS

A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. This includes shifts in which consumers are shopping and paying, and in the payment tools or methods they are using to finalize their transactions.