Payments News

On The Web

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Reports

Facing a Big Jump in U.S. CNP Fraud, Retailers Turn to Automated Tools

“This fraud will increase from an estimated $5.5 billion this year to $6.4 billion in 2021. “CNP fraud losses continue to increase globally due to the wealth of data available from data breaches and other sources,” Shirley W. Inscoe, a senior analyst at Boston-based Aite, says in an email. “Some countries that saw a decline […]
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Reports

EAST Publishes European Fraud Update 2-2019

“Two countries reported mobile wallet fraud in relation to Apple Pay. One reported that mobile wallets are fast becoming the new money mules – fraudsters are enrolling cards that are not yet associated to a specific wallet. Another country reported that fraudsters are obtaining security codes through phishing, with which they can then install a […]
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Reports

The Future of U.S. Fraud in a Post-EMV Environment

“Having begun in earnest in 2015, the U.S. payments card industry is now, in 2019, approaching full adoption of EMV chip cards. The United States’ efforts have lagged those of many other developed countries in adopting EMV. This paper explores data from three of these countries (the United Kingdom, France, and Australia) to extrapolate fraud […]
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Domains

The Money-Transfer Newbies Nip at the Incumbents’ Heels

“Relative newcomers to the world of money transfers such as Remitly Inc., TransferWise Ltd., and WorldRemit Ltd., which specialize in end-to-end digital transactions, are nibbling away at the market share of agent-based leaders The Western Union Co. and MoneyGram International Inc., says a new report from research firm Aite Group LLC.  Overall, the global money-transfer […]
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Reports

Mobile Contactless Payments Will Account for Less Than 2% of US Retail Sales This Year

“The push for mobile contactless payment adoption in the US has been a decade-long journey entailing a multibillion-dollar investment in wallet development, POS hardware and consumer marketing. To date, the results have been underwhelming, with payment methods like Apple Pay and Google Pay forecasted to account for just 1.6% ($78.6bn) of US brick-and-mortar retail sales […]
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Reports

Small Purchases Survey: Cash, Debit Reign Over Credit

“Consumers prefer to use cash for purchases of less than $10, despite other more convenient options, according to a new CreditCards.com poll. In fact, 49 percent of U.S. adults usually pay with cash, 35 percent with debit cards and 16 percent with credit cards. And the same pattern held with only those who owned rewards […]
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Reports

China Internet Report: Tech Firms Go From Copycats to Trailblazers

“Today, global internet companies from the US to Southeast Asia are looking to replicate Chinese concepts – from models such as the all-in-one super app, to social commerce as well as short video, according to findings from the China Internet Report 2019 .The second edition of the China Internet Report, launched at Hong Kong’s RISE […]

On The Wires

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Reports

Mobile Money Transfers to Exceed 200 Billion Transactions in 2024

“According to the new research, Digital Money Transfer & Remittances: Domestic & International Markets 2019-2024 , domestic transfers are being driven by increasingly easy mobile payment systems. In developed markets, digital wallets have made P2P payments far simpler, with services including PayPal, Venmo and Cash App enabling low cost, fast and secure payments for a […]