Payments News

On The Web

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Reports

Canadians Rapidly Adopting New Payments Channels

“New technology and payments innovation are transforming the way Canadian consumers and businesses make payments, according to data from Payments Canada’s annual Canadian Payments Methods and Trends report.  In pursuit of more convenient, faster and secure payment experiences, Canadians are rapidly adopting newer digital channels, such as contactless (tapping card or mobile), e-commerce, mobile and […]
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Reports

2019 Thales Data Threat Report Financial Services Edition

““Data security, starting with encryption and access management, is an important part of the mix. As data migrates away from the enterprise premises and to the cloud, network security is no longer sufficient to protect data. Financial services need new data security methods to protect precious data everywhere in today’s digital IT landscape.” – Frank […]
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Reports

Global Digital Sales Grew 8% During Holiday 2019, Hitting $723 Billion – Retail TouchPoints

“Holiday digital spending jumped 8% compared to the rest of 2019, reaching $723 billion worldwide, according to data from Salesforce . Mobile once again was the top channel, accounting for as much as 80% of digital traffic and 65% of digital orders on peak shopping days. Buy online, pick up in-store (BOPIS) was also a big winner, particularly toward the end of the […]
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Reports

2020 Data Breach Industry Forecast

“Our latest forecast shares five, well-researched, and expertise-driven data breach predictions for 2020, along with a Scorecard Rating evaluating our 2019 predictions. Our predictions are rooted in Experian’s history of helping companies navigate more than 30,000 breaches in the last 15 years.”
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Reports

Federal Reserve Releases 2019 Payments Study

The 2019 Federal Reserve Payments Study (FRPS), seventh in a series of triennial studies, found accelerating growth overall in core noncash payments (ACH, cards, checks) from 2015 to 2018 compared to the previous three-years. The study also found that Debit and credit card payments grew 8.9 percent per year between 2015 and 2018. The value […]
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Reports

Discussion paper Designing a prudential treatment for cryptoassets

“As previously indicated, the Committee is of the view that the growth of crypto-assets and related services has the potential to raise financial stability concerns and increase risks faced by banks. Cryptoassets are an immature asset class given the lack of standardisation and constant evolution. Certain cryptoassets have exhibited a high degree of volatility, and […]

On The Wires

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Reports

Biometrics to Secure $2.5 Trillion in Mobile Payments by 2024

“The new research, Mobile Payment Authentication & Data Security: Encryption, Tokenisation, Biometrics 2019-2024 , shows that the availability of dedicated biometric hardware will not be an obstacle to biometric usage as it will be present on an estimated 90% of smartphones by 2024. However, we expect less than 30% of these phones to be used […]
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Reports

SmartMetric Says Evidence Shows That 39% of Consumers Who Wrongly Have Their Credit Card Declined Stop Using That Credit Card for Future Purchases

“A report by the Aite Group (1) predicts losses due to false credit and debit card declines will grow to $443 billion by 2021. This dwarfs the losses from card fraud alone. Despite the online industry’s best efforts, new data reveals that both e-commerce fraud and the constant incidents of false declines continue to seriously impair retailer revenues […]
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Reports

New Accounts Payable Research Finds That Fraud, Data Security Among Top Concerns As Cross-Border Payments Rise To 83%

“A new independent study on the state of accounts payable conducted by Levvel Research and commissioned by Tipalti , the leading global payables automation solution, highlights the ongoing challenges in dealing with fraud as cross-border payments increase in frequency. Levvel Research found that the majority of companies (83%) made cross-border payments in 2019 – a […]