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New Report: SMS-Based Outreach Helps Merchants Authenticate Consumers, Boost Online Sales

PYMNTS

Businesses and financial institutions (FIs) are constantly examining ways to make their customers’ accounts more secure, especially as more consumers go online to make purchases and transact during the ongoing COVID-19 pandemic. For more on these and other onboarding items, download this month’s Tracker. .

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Mobile Banking Malware on the Rise Amid Rapid Adoption

Fintech News

Mobile banking is a rapidly growing market that’s projected to hit a value of US$7 billion by 2032. The 2023 study, which analyzed malware targeting banking apps, uncovered that 29 malware families targeted 1,800 banking applications across 61 countries last year.

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Digital Payments: 12 Digital Payment Options to Consider Accepting in Your Business

Stax

We can hail a ride from a mobile app, and our transactions for all sorts of goods and services can be easily paid for from our phones. There are a wide variety of digital payment types, such as mobile POS systems, contactless payments, and digital wallets. All you need to use a digital wallet is a smartphone.

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US Mobile Adopts Digital Identity Protocols To Protect Against SIM Swap Fraud

PYMNTS

Digital identity solutions have become increasingly widespread in recent years as alternatives or supplements to old-fashioned authentication methods like passwords. Multifactor authentication (MFA) and biometric scans are quickly becoming the norm in numerous fields, including online accounts for banks and other businesses.

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The New Nuke From Orbit UK Campaign Aiming to Empower Consumers in Fight Against Smartphone Theft

The Fintech Times

With smartphone theft on the rise across the UK, fintech and mobile security platform, Nuke From Orbit , is launching a nationwide campaign to combat this growing crisis. More people are using mobile phones for their money management, which means convenience and, in some cases, improved financial responsibility. million Android users.

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NEW REPORT: Why Wells Fargo Is Going Mobile For Authentication

PYMNTS

Changing consumer spending and ever-evolving technological capabilities means that authenticating customers is an always shifting process. Despite demand from both consumers and corporations for a shift, passwords remain the most commonly used authentication credential — but their reign may be about to end.

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1 in 5 Canadian Businesses Experienced Payment Fraud in the Past 6 Months

Fintech Finance

Other types of payment fraud included: Someone intercepted a business’ e-Transfer (sending or receiving) to deposit the money into a different bank account (22%). Fraudulent charges on their bank or credit cards (20%). Downloading and using social media mobile apps for business purposes (22%).