The Payments Association

DECEMBER 9, 2024

AI generates ‘fake’ data that mirrors potential fraud, training systems to recognize and counteract these evolving attacks. Enhanced fraud detection extends to biometric authentication, a key element of payment security. This adaptability strengthens biometric authentication, adding protection for consumers and businesses.

Privacy

Fintech Review

APRIL 20, 2025

It covers the tools, platforms, and strategies that defend against data breaches, fraud, identity theft, and financial disruption. Cybertech helps mitigate these risks by securing each layer of the stack from device authentication to back-end systems. Cybertech sits at the intersection of cybersecurity and fintech.

Finance

Fintech News

NOVEMBER 24, 2024

Finastra, a major financial software provider that serves many of the world’s leading banks, is grappling with a data breach. The company confirmed the incident to TechCrunch following a hacker’s claim of compromising Finastra ‘s internal file-transfer platform and subsequent attempts to sell the stolen data.

Breach

The Payments Association

JUNE 3, 2025

Moreover, network tokenisation reduces the regulatory burden by eliminating the need to store sensitive card data, supporting the Payment Card Industry Data Security Standard (PCI DSS) compliance and lowering the risk of data breaches.

Security

Stax

MARCH 18, 2025

Measures such as encryption, tokenization, and fraud detection are vital for protecting payment transactions from cyber threats, fraud, and data breaches. 3D Secure (3DS) authentication and AI-powered fraud detection add extra security layers. Security is the core of any payment processing system.

Process

Stax

JANUARY 28, 2025

Click to Pay is based upon global EMV Secure Remote Commerce (SRC) standards, which include security measures like tokenization , multi-factor authentication , and 3D Secure protocols. The customer will then input the passcode to complete the authentication process. It is also built to be super secure.

Payment APIs and Integration

Stax

NOVEMBER 21, 2024

The fact that the customer is not present physically at your store makes it a high-risk transaction, and the use of security measures like two-factor authentication is highly recommended. A good example is restaurants that accept customer takeout orders over the phone.

Credit Cards

Clearly Payments

MARCH 14, 2025

Stage 2: Authentication and Security To prevent fraud, security measures are incorporated: EMV Chip Technology : EMV chips provide dynamic encryption for each transaction, making it harder to counterfeit cards. Tokenization : Converts sensitive card data into a unique token, reducing the risk of data breaches.

Credit Cards

Fi911

FEBRUARY 26, 2025

Control Objective 4: Implement Strong Access Control Measures Restrict Access to Cardholder Data by Business Need-to-Know: Only employees who need access to perform their duties should have permission to view or handle sensitive information. Some notable changes include: Flexible Implementation Version 4.0

PCI DSS

Fintech Review

JANUARY 30, 2025

trillion, and the annual IBM Cost of Data Breach Report claims that one such penetration “costs” the affected business around $4.45 Thats why DORA violations will be sanctioned with 2% of the global annual turnover fine , and in special cases the amount can reach up to 5 mln EUR.

Regulations

Finextra

JUNE 26, 2025

Non-compliance, on the other hand, can lead to data breaches and legal troubles. PCI DSS: Safeguarding cardholder data If you handle card payments, PCI DSS compliance is non-negotiable. It also brings in stronger customer authentication (SCA) to prevent fraud during digital payments. AML stops financial crime.

PCI DSS

Stax

APRIL 3, 2025

The solution should implement the following data security measures: PCI compliance – The Payment Card Industry Data Security Standard (PCI DSS) is a payment data handling regulation designed to keep cardholder data safe. This protects sensitive payment data from interception by cybercriminals.

Payment Solutions

Clearly Payments

AUGUST 8, 2025

It bypasses physical card security and is often executed using stolen data purchased on the dark web. While Canada has strong chip-and-PIN adoption and advanced fraud detection systems, it still experiences higher card-not-present fraud compared to nations with more widespread biometric authentication.

Credit Cards

My Payment Savvy

JUNE 16, 2025

Data is Encrypted & Tokenized Immediately after submission, the payment gateway encrypts the card data and replaces it with a token—a random, one-time-use ID. This tokenization keeps the sensitive card information off your servers, reducing the risk of a data breach and easing PCI DSS compliance.

Payment Gateways

EBizCharge

JANUARY 14, 2025

Data encryption is crucial for a payment gateway since it converts sensitive information, like credit card details, into a secure format to prevent unauthorized access during online payments. Strong encryption builds trust with customers and reduces the risk of data breaches. How much does a payment gateway cost?

Payment Gateways

Bank Automation

JULY 1, 2025

billion 2024, according to ResearchandMarkets report this month, which noted that the market is projected […] The post FIs react to tech giant data breaches appeared first on Bank Automation News. The financial fraud detection and prevention market is projected to reach $27.27 billion in 2025, up from $24.31

Data Breach

Clearly Payments

AUGUST 6, 2025

Data breaches: Over 269 million stolen credit card records were posted on dark web forums, many used in CNP fraud. By contrast, countries like the UK, Australia, and Canada have seen greater success in reducing fraud by mandating EMV chip usage and more aggressive enforcement of secure authentication standards. billion in 2023.

Credit Cards

The Payments Association

JULY 11, 2025

Market dynamics signal a fundamental shift Five transformative technologies are redefining POS capabilities: SoftPOS, Cloud-based systems, Mobile solutions, Self-service kiosks, and Biometric authentication. Biometric authentication remains nascent but shows promise for premium applications. Average global data breach costs hit US$4.9

Point-of-Sale (POS)

Cardfellow

APRIL 27, 2025

Technically, the standard refers to storing, processing, or transmitting card data, but if you accept cards, youre doing one or more of those things. Required Multi-Factor Authentication (MFA) Version 4.0 of the PCI standard now requires multi-factor authentication (MFA) for any access to cardholder data.

PCI DSS

EBizCharge

MARCH 20, 2025

Improved payment security: A reliable payment gateway provider ensures compliance with security standards such as Payment Card Industry (PCI) Compliance , safeguarding sensitive financial data and reducing fraud and data breach risks. Automatic data syncing also reduces duplication and AR errors.

Payment Gateways

Finextra

JUNE 2, 2025

Open Banking frameworks baked in audit trails, secure authentication, and regulatory oversight to ensure that when you share your data, it’s handled safely. It’s a bit like how open banking built certain requirements (like strong customer authentication) into the technical standards.

Finance

M2P Fintech

MARCH 24, 2025

Emphasis on Cybersecurity and Data Privacy Digital lending faces rising threats: data breaches from hacking, fraud via synthetic identities, account takeovers exploiting weak security , ransomware disrupting operations, and insider threats. Protecting sensitive data is paramount. over the forecast period of 2024 to 2032.

Payment APIs and Integration

VISTA InfoSec

AUGUST 5, 2025

Delays in applying patches can lead to severe data breaches. Multi-factor authentication, limited access permissions, and strict monitoring help reduce the impact of a breach. Teams should run tabletop exercises that simulate real-world attack scenarios like data breaches or ransomware outbreaks.

Cybersecurity

EBizCharge

JUNE 12, 2025

Payment security concerns: With increasing threats like fraud, chargebacks, and data breaches, many businesses struggle to adapt to evolving compliance standards and security protocols, which can decrease customer trust and revenue. Risk classification: Based on these factors, your business will be classified into a risk category.

Process

Finovate

JANUARY 24, 2025

Under the EUs Second Payment Services Directive (PSD2), banks are required to share customer data with third-party providers through APIs a move that, while promoting transparency and choice, also widens the attack surface for cybercriminals. It increases the risk of data breaches, identity theft, and payment fraud.

Regulations

EBizCharge

MARCH 3, 2025

Tokenization is crucial in securing electronic payment methods, reducing data breaches, and ensuring a seamless payment integration with your financial processes in Acumatica. 3D Secure authentication requires an additional verification step during a credit card transaction.

Credit Cards

The Fintech Times

AUGUST 7, 2025

A data breach. It doesn’t matter how secure your wallet is, how strong your encryption, or how many layers of multi-factor authentication you’ve set up. A few years ago, the biggest threat to your crypto business was a bad line of code. A phishing email. Today might be someone waiting for you outside your office.

Law Enforcement

Finextra

AUGUST 1, 2025

This minimizes data breaches while simplifying workflows, ensuring privacy standards remain intact across all activities within the offices ecosystem. Strengthening Protection with Multi-Layered Authentication Relying on just passwords is no longer enough to safeguard sensitive information.

Security

Finextra

JULY 7, 2025

The Security Fortress: Protecting Data in a Vulnerable World At the heart of this reluctance lies a deep-seated concern for data security and privacy. Organizations are acutely aware of the potential for catastrophic data breaches, and the implications are severe.

AI

VISTA InfoSec

FEBRUARY 25, 2024

A data breach could ruin your business overnight. Are you prepared to deal with regulatory fines, lawsuits, costly investigations, disrupted operations, and destroyed trust while cybercriminals profit freely from stolen data? That’s the harsh aftermath companies face today following high-profile breaches.

Data Breach

VISTA InfoSec

JUNE 21, 2023

Not sure where to start if you notice a data breach? Here are seven essential steps to follow Becoming aware that your company has suffered a data breach can be unsettling. Identifying and Containing the Damage Once you have been made aware of a data breach, the first step is to identify and contain the damage.

Data Breach

VISTA InfoSec

MARCH 28, 2024

In the digital age, protecting customer data is a cornerstone of trust and reliability between a company and its consumers. As cyber threats loom larger and data breaches become more frequent, safeguarding sensitive information cannot be ignored. You should also regularly review stored data and purge what is no longer needed.

Data Breach

PYMNTS

AUGUST 16, 2019

The airline claims that 24[7] fell short of implementing basic security controls like forbidding workers from using the same login credentials or requiring multifactor authentication for employees accessing source code. They then monitored the website activity of the carrier and took data entered by visitors. According to WSJ , [24]7.ai.

Data Breach

VISTA InfoSec

JUNE 18, 2024

As cyber threats evolve, safeguarding your organization’s data has become an utmost priority. Whether you’re a small business owner, a corporate leader, or an Information and Communication Technology (ICT) specialist, the consequences of a data breach are severe and far-reaching.

Data Security

VISTA InfoSec

JULY 19, 2024

As fraudsters are continuously finding new ways to strike, we’re continuously finding new ways to prevent them with controls such as encryption, multi-factor authentication, fraud detection software, etc. Each TPM chip has a unique RSA key that’s embedded into it during production, which can be used for device authentication.

Cybersecurity

Payments Source

JANUARY 31, 2019

Criminals are going to get smarter, but banks can implement a modern authentication solution to meet unique use cases and security requirements without sacrificing user convenience, writes Mike Byrnes, senior product manager at Entrust Datacard.

Authentication

The Payments Association

FEBRUARY 13, 2025

Many financial institutions still rely on legacy authentication methods, leaving them vulnerable to modern attack vectors. Risk-based authentication (RBA) offers a way forward, balancing security and user experience while addressing the growing sophistication of fraud. Static authentication is a significant vulnerability for FIs.

Authentication