EBizCharge

APRIL 22, 2025

Additionally, integrating with PCI-compliant payment solutions and enabling multi-factor authentication (MFA) adds an extra layer of security, helping businesses meet compliance requirements and safeguard customer payment data. Diverse payment options Nowadays, there are various payment methods available to meet diverse consumer preferences.

Payment APIs and Integration

PYMNTS

JUNE 25, 2020

Banks are leveraging multi-factor authentication (MFA) and machine learning (ML) to protect these systems, but customers fear this may not be enough. Building Consumer Trust With Open Banking Security. The application programming interfaces (APIs) that fuel open banking are popular targets for cyberattacks, with 473.5

Financial Crimes

VISTA InfoSec

JUNE 3, 2024

Multi-Factor Authentication (MFA) Implementing multi-factor authentication (MFA) adds an extra layer of security to the authentication process. MFA requires users to provide two or more verification factors, such as a password and a one-time code sent to their mobile device.

MFA

PYMNTS

NOVEMBER 27, 2020

Overtaxing the royal attention span — that of the consumer — is a mistake, so multifactor authentication (MFA) processes are morphing in various ways to reduce onboarding frictions while maintaining rigorous multifactor authentication (MFA) and other fraud-fighting tools. Phone Call For You.

Multifactor Authentication

PYMNTS

SEPTEMBER 5, 2019

Seventeen percent of call centers are looking to replace knowledge-based authentication (KBA) with multi-factor authentication (MFA) to better protect customers from scheming fraudsters, and though that may not seem like a high percentage, it is double the number of centers that were looking at such methods in 2018.

MFA

PYMNTS

NOVEMBER 13, 2020

Multifactor authentication (MFA) and biometric scans are quickly becoming the norm in numerous fields, including online accounts for banks and other businesses. consumers’ relationships with telecommunications companies extremely important. For more on these stories and other digital identity news items, download this month’s Tracker.

Multifactor Authentication

PYMNTS

SEPTEMBER 4, 2019

That can make the authentication process tricky when it comes to satisfying consumers who want things done quickly. In the latest Call Center Commerce Tracker , PYMNTS examines how contact centers are using technologies like AI, biometrics and multifactor authentication (MFA) to keep customers satisfied and, most importantly, safe.

MFA

PYMNTS

JUNE 8, 2020

Interest in such capabilities is growing during the COVID-19 pandemic, with consumers and business owners relying more heavily on remote services amid stay-at-home mandates. MFA requires customers to prove their identities by providing at least two types of credentials. percent between 2019 and 2026, hitting $43.2 Fighting Phishing.

Authentication

Fintech News

DECEMBER 18, 2023

MAS conceded that while this may result in increased costs for customers, the move aims to protect consumers and reduce the instances of beneficiaries’ accounts in China being frozen. Remittance companies typically engage overseas third-party agents, instead of banks, for transferring funds from Singapore to China.

Rules

Stax

MARCH 4, 2024

Multi-factor authentication (MFA) adds additional layers of security by requiring additional verification during the transaction process. Many people use MFA when making purchases through Apple Pay, for example, using Face ID or a passcode to complete a purchase. What is SSL/TLS? Q: What is the most secure online payment method?

PCI DSS

Segpay

DECEMBER 13, 2024

The rise of data privacy concerns has led to a surge in global regulations, such as the EU General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), which are drafted to protect peoples individual data protection rights. Fines for non-compliance can range from $2,500 to $7,500 per violation.

Privacy

Fi911

JANUARY 18, 2024

What Banks Can Do It’s important to note that consumers aren’t the only victims of third-party fraud. Multi-Factor Authentication (MFA) Implementing MFA for customer authentication can significantly enhance security. Banks and merchants are also frequently targeted by third-party scams.

Account Takeovers

PYMNTS

SEPTEMBER 5, 2019

One of the biggest changes is that call centers are moving away from knowledge-based authentication (KBA) methods like passwords and PINs and employing methods with multi-factor authentication (MFA). Consumers are also interested in using voice in non-traditional ways. Call centers are especially vulnerable. Voice Authentication.

MFA

PYMNTS

JUNE 9, 2020

In PYMNTS’ most recent Navigating the COVID-19 Pandemic series, based on surveys of thousands of consumers and businesses over the duration, nearly 34 percent of respondents said they are “very” or “extremely” likely to consider a firm’s digital offerings when deciding where to spend their money. SCA, MFA, All the Way.

AML

Fi911

JANUARY 31, 2024

The financial sector operates within a web of stringent rules designed to protect consumers and maintain economic stability. Institutions must allow this technology to mature and demonstrate its reliability before considering broader implementation. Regulation remains a concern, too.

AI

PYMNTS

NOVEMBER 17, 2020

Consumers’ ownership of smartphones has become all but ubiquitous in the U.S. Onboarding these customers can be a tedious challenge prone to fraud and consumer frustrations, and the industry faces the ever-looming threat of SIM swap fraud. Telecommunications companies face a number of challenges in their day-to-day operations, however.

Multifactor Authentication

PYMNTS

JUNE 9, 2020

The bank is relying on tools like multi-factor authentication (MFA) to balance seamlessness and security while verifying customers’ identities during mobile onboarding. During the COVID-19 pandemic, consumers have been using digital tools to interact with their banks at a level that appears to have surpassed FIs’ expectations.

Online and Mobile Banking

The Payments Association

OCTOBER 24, 2024

Chargebacks were introduced in 1974 under the Fair Credit Billing Act to protect consumers from fraud, billing errors, and non-delivery of goods. This convenience has led to widespread abuse, known as “friendly fraud” or chargeback misuse, where consumers file disputes without valid reasons. At the time, this was a necessary safeguard.

Disputes

Segpay

NOVEMBER 26, 2024

Without proper ID verification, criminals can create fake accounts, steal personal information, and rob consumers. Traditional verification methods are time-consuming. Fraudulent transactions can result in financial losses for both consumers and businesses, so ID verification protects both the payer and the receiver.

Verification

PYMNTS

JUNE 8, 2020

That “digital transformation” you can’t stop thinking about is made possible by droves of application programming interfaces (APIs) — clever lines of specialized code that foster interconnectedness and new consumer experiences­. MFA and APIs Make A Good Pair. Studies have found that using MFA can prevent more than 99.9

API

The Payments Association

OCTOBER 22, 2024

It aims to protect consumers from authorised push payment (APP) fraud but raises concerns about the adequacy of protection for larger fraud cases. While this marks a significant step toward protecting consumers from authorised push payment (APP) fraud, concerns remain that the reduced compensation cap may leave some victims vulnerable.

Rules

PYMNTS

JUNE 3, 2020

The Australian government is conducting a nationwide push for APIs and open banking, meanwhile, with its regulatory body Australia Competition and Consumer Commission (ACCC) issuing licenses for organizations to access account data from the four largest banks in Australia. About The Tracker.

Real Time Payments

Stax

AUGUST 20, 2024

In today’s digital age, more and more consumers are shopping online. This is what’s commonly known as two-factor authentication (2FA) or multi-factor authentication (MFA). MFA is similar but requires customers to enter three pieces of information instead of two. 3D Secure 2 (3DS2) meets the criteria for PSD2.

Authentication

VISTA InfoSec

FEBRUARY 28, 2024

We aim to provide a clear understanding of what these changes mean for your organization and how to implement them effectively. Note: These requirements do not apply to consumers (cardholders) Requirement v3.2.1 (8.5) Scope Applies to "non-consumer users and administrators" on all system components. Requirement v3.2.1 (8.2)

PCI DSS

PYMNTS

OCTOBER 16, 2020

Approximately 30 percent of consumers say they would be more at ease doing so, however, if banks had reasonable explanations as to why this data was necessary. In this month’s Deep Dive, PYMNTS explores the cybercrime methods these apps face as well as how they are deploying multifactor authentication (MFA) to protect app users.

Zelle

PYMNTS

OCTOBER 21, 2020

Digital and mobile payments are surging as businesses and consumers transact from home, and this increased digital engagement has opened the door to more financial crime.” While that may seem to be a benefit for consumers, it can be a double-edged sword,” Yuval Marco, general manager of fraud and authentication at NICE Actimize told PYMNTS.

P2P

PYMNTS

FEBRUARY 8, 2019

” On the whole, cyberthreats continue to expand, and millions of dollars are on the line for businesses that fail to implement tactics like multi-factor authentication (MFA), instead relying on lackluster passwords to manage hundreds of account logins. “We have a lot of customers not even employing MFA. ”

Phishing

PYMNTS

OCTOBER 1, 2019

As fraudsters become increasingly aggressive, new global regulations and solutions are being deployed to keep consumers, merchants and banks safe. A report by Lloyds Bank noted that the share of millennial consumers who fall victim to scams increased by 400 percent in the past year, even though overall fraud incidents declined.

Romance Scams

Finovate

MAY 1, 2024

The company supports both Fine-Grained Authorization (FGA) and Business-to-Business-to-Consumer (B2B2C) use cases, and also provides support for advanced authorization and consent specifications including Financial-grade API (FAPI) 2.0, which powers Open Finance communities around the world.

Acquirers

Fintech News

MAY 20, 2024

Additionally, the event will provide a forward-looking perspective on the future of BNPL and its potential to reshape consumer finance and the wider payments industry.

FinTech

PYMNTS

JULY 13, 2020

Those that cannot adequately detect and thwart ATOs cannot safely serve the many consumers who need smooth financial support during the pandemic- related economic downturn, and attempted attacks can be deeply damaging to consumers and banks’ brands alike. This method has downsides, however.

Credential

PYMNTS

FEBRUARY 18, 2020

Requiring multifactor authentication (MFA) could add frictions to companies’ payment systems and customer experiences, but such tools are necessary to enable smart authentication and compliance decisions. Banks that earn consumers’ trust by securing their mobile data and transactions will likely see plenty of growth, as 40 percent of U.S.

Authentication

Seon

SEPTEMBER 11, 2023

Consumer awareness: Launch public awareness campaigns alerting your customers to practical fraud prevention steps (we’ve shared some helpful and shareable customer tips below). Set up multi-factor authentication (MFA): Add one-time passwords (OTPs) or other types of MFA to all neobank accounts.

Identity Theft

PYMNTS

APRIL 17, 2020

Companies that craft signature spice blends and offer desirable single-origin elections and rare variants to their consumers depend on strong relationships with suppliers. The payments portal login is also safeguarded with multi-factor authentication (MFA). This is an accountability best practice,” Mayer said.

Accounts

The Payments Association

APRIL 7, 2025

As financial crimes grow in complexity and sophistication, payment firms find themselves at the forefront of the battle to safeguard their operations and consumer trust. The existing technical mechanisms, like MFA and biometrics, will not be able to prevent this type of fraud.

Financial Crimes

Stax

JULY 9, 2024

More and more, cash-only businesses are falling by the wayside, unable to keep up with consumer demand for convenient electronic payments. EFT payments are a cost-effective solution for both businesses and consumers. P2P payments, such as Venmo, PayPal and the Cash App, are popular among consumers. EFT payments are fast.

Electronic Fund Transfer Act (EFTA)

EBizCharge

MARCH 12, 2024

Here are nine common forms of online payment methods used today: Credit: Many online consumers prefer to use credit cards for their purchases due to their convenience and security. With digital wallets, consumers can purchase online or transfer money to other users. Credit card payments allow businesses to access funds quickly.

Credit Cards