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What You Need to Know about Singapore’s Upcoming Shared Responsibility Framework

Fintech News

FIs and PSPs must also send real-time alerts for high-risk actions, such as new device logins, contact detail changes, transaction limit increases, and the addition of new payees, allowing consumers to respond swiftly to suspicious activity. These measures resulted in over 20 million SMSes being blocked since 2023.

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Over 200 DBS Customers Lose S$446K This Year to Sophisticated Phishing Scams

Fintech News

The police and DBS jointly recommend the installation of the ScamShield App to safeguard against scam calls and SMSes, alongside enabling two-factor authentication for bank accounts and setting transaction limits. They also remind the public that bank employees will never request internet banking details or OTPs.

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Why Retailers Should Look For More From Their Vendors

PYMNTS

Reitblat said that, once, fraud prevention was all about stopping fraudulent transactions, limiting a retailer’s losses, protecting what they had. He further stated that having fraud prevention as the overarching focus can have the effect of preventing fraud but also blocking sales, if it’s risk-averse. “We

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How a PIN Works on Credit Cards and Debit Cards

Clearly Payments

Transaction Approval : Upon successful verification, the card issuer approves the transaction, and the payment is processed. If the wrong PIN is entered too many times, the card may be temporarily blocked. This is because funds are drawn directly from the customer’s bank account.

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How a High Risk Merchant Account Works

Clearly Payments

Stricter Terms : High-risk businesses may face stricter terms, such as monthly transaction limits, extended payout periods (e.g., Some processors offer systems to help businesses fight disputes or block fraudulent transactions before they happen.

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Deep Dive: Security In The Time Of Faster Payments

PYMNTS

FIs can enable them to set transaction limits for real-time payments, and send them in SMS alerts should transactions above those amounts be requested. Additionally, FIs should, in some cases, hold payments when transactions appear suspicious, but not strange enough that they should be blocked.

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What is a Merchant Cash Advance and is MCA Right for You?

Stax

No need for perfect credit Bad credit is a stumbling block for many small businesses. The lender might deny your MCA application simply because you don’t meet the minimum number of credit card transactions. In cases with unforeseen delays, the maximum time you might have to wait is two to five business days.