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The rise of generative AI in payment security: A double-edged sword for data privacy

The Payments Association

The dual impact of generative AI on payment security, highlighting its potential to enhance fraud detection while posing significant data privacy risks. It underscores the need for payment firms to balance AI innovation with robust privacy and regulatory compliance to protect sensitive consumer data.

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Beyond the Firewall: Rethinking Payment Data Security

Finextra

Payment details often reside in multiple locations across an organisation — from shared folders to manual payment files — making it hard to track who has access, where data is stored, and how it’s being used. These tokens are stored and managed outside the business’s systems, in highly secure external environments.

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Finovate Global: Talking Fintech Regulation in the European Union with EverC’s Maya Shabi

Finovate

Shabi: The Instant Payment Regulation (IPR) is designed to make instant euro payments secure and accessible across the EU. Its goal is to modernize the regions payments landscape by improving the speed and efficiency of transactions within the Single Euro Payments Area (SEPA). raised $4.5 in seed funding.

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Tribe Payments Secures ISO 27001 Certification, Strengthening Information Security

Fintech Finance

With this globally trusted stamp of approval, Tribe assures payment ecosystem players of its operational resilience and ability to safeguard critical IT infrastructure from rapidly advancing cybersecurity threats.

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Payment Security: Everything You Need to Know About Secure Payments

Stax

To stay ahead of fraud means merchants must understand the threats, use trusted and secure providers, and keep up to date on payment security trends. So, let’s dive into payment security, touching on the basics of what you need to know to ensure secure payments.

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How To Prevent Data Breaches: 15 Best Practices

EBizCharge

Now more than ever, businesses are focusing on preventing data breaches and implementing response protocols to mitigate breaches if they occur. According to the 2023 IBM Data Breach Report , the global average cost of data breaches was $4.45 What are data breaches?

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Generative AI Unleashed: Transforming Industries with Cutting-Edge Innovation

Segpay

Tokenization: Generative AI contributes to the implementation of tokenization, a technique that replaces sensitive data, such as credit card numbers, with unique tokens. These tokens are generated for each transaction, reducing the risk of data breaches. This provides digital payment methods with an additional level of security.

AI