Payments News

On The Web

nbsp;

Risk

T-Mobile Investigating Claim of Stolen Personal Data for Sale

“T-Mobile is looking into a post on a forum that claimed to be selling the personal data of more than 100 million people swiped from the mobile carrier’s servers. The data breach included information such as Social Security numbers, phone numbers, names, physical addresses and driver license information, according to Vice , which reported the […]
nbsp;

Security

Regulators Urge Banks to Strengthen Customer Authentication

“U.S. financial regulators are calling on banks to strengthen their authentication processes to better protect customer accounts and information systems. The Federal Financial Institutions Examination Council on Wednesday issued new guidance for how financial institutions can properly employ an authentication process for customers, employees and third parties as the number of access points to information […]
nbsp;

Risk

Thwarting Authorized Push Payment Fraud

“Behavioral biometrics can play an important role in mitigating the risk of authorized push payment fraud, says Reed Luhtanen, executive director at the U.S. Faster Payments Council. This biometrics technology involves, for example, “analyzing how one holds a particular device or how you are moving the mouse,” Luhtanen explains. Artificial intelligence can help analyze previous […]
nbsp;

Deals

Feedzai Adds Behavioral Biometrics to Fraud Prevention Platform With Revelock Acquisition | Biometric Update

“Revelock has been acquired by Feedzai to integrate its advanced behavioral biometric platform into what the latter says will be the world’s largest Financial Intelligence Network (FIN) for secure cashless transactions. The integrated platform will be offered to financial institutions and merchants around the world to detect financial crime and proactively prevent it. The addition […]
nbsp;

Security

Amazon Will Pay You $10 in Credit for Your Palm Print Biometrics

“How much is your palm print worth? If you ask Amazon, it’s about $10 in promotional credit if you enroll your palm prints in its checkout-free stores and link it to your Amazon account. Last year, Amazon introduced its new biometric palm print scanners, Amazon One , so customers can pay for goods in some […]
nbsp;

Security

Worldline Adds Handprint Biometrics for Mobile Payments

“The payments technology provider Worldline is adding a handprint biometric digital ID to its authentication system through a partnership with the French fintech A3BC. By combining technologies with A3BC (whose name stands for Anything Anywhere Anytime Biometric Connection), Worldline seeks to protect mobile phones from intrusion through a two-factor authentication process that would include the […]
nbsp;

Security

Eftpos Rolls Out Secure Digital Identity Exchange for Australian Consumers

“Australia’s Eftpos national debit card system has launched a digital identity exchange solution that enables consumers to share personal information held by trusted digital ID providers in a wide range of use cases, from opening an online account and making online payments to accessing government services or providing proof of age. Eftpos ConnectID allows users […]

On The Wires

nbsp;

Security

BioCatch Enters Implementation Stage of Strong Customer Authentication (SCA) for Payment Services Directive (PSD)2, Launches SCA Compliance Awareness Events

“BioCatch, the global leader in behavioural biometrics announced it has entered the implementation stage of its offering that will enable financial institutions to leverage BioCatch’s behavioural biometric-based solution to support their journey to compliance with PSD2’s implementation of Strong Customer Authentication (SCA), a regulation that requires multi-factor authentication for online transactions. BioCatch’s behavioural biometrics industry […]
nbsp;

Reports

Remote Authentication Fraud: Are You Who You Say You Are? – FedPayments Improvement

“Heightening the need for greater attention to authentication fraud, the COVID-pandemic increased demand for more consumers to enroll in online or mobile (digital) accounts to make remote payments. In fact, average U.S. consumer e-commerce spending was 36% of total spending in December 2020, up from just 26% in March 2020. [1] Unfortunately, fraudsters have noticed […]
nbsp;

Security

Socure Unveils Industry’s First BNPL-Specific Solution, Extending Its Leadership in Identity Verification and Trust for Alternative Payment Providers

“Socure , the leading platform for digital identity verification and trust, today announced the introduction of the first identity verification and fraud solution purpose-built for the Buy Now, Pay Later (BNPL) industry. The solution leverages the technology and data currently used by more than 100 top BNPL providers, alternative payment providers, fintechs, banks, and credit […]