Payments News

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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 […]
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Security

Here’s How Amazon’s Rumored Pay-by-hand Tech Could Work

“Amazon plans to pitch the terminals to businesses with a lot of repeat customers, such as coffee shops and fast-food restaurants, according to WSJ. Customers would use the terminals to link their palm print to a credit or debit card. Customers could establish the link between their bank accounts and palm prints by inserting a […]
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Security

CULedger Completes Blockchain Identity Pilot With Three US Credit Unions

“CULedger claims that MyCUID users can verify their identity by using a biometric function on their smart phone, such as voice, fingerprint or facial recognition. The vendor says that data from its pilot indicated that the average time to verify a member’s identity had been reduced from the industry average of more than 50 seconds […]
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Security

Mastercard’s NuDetect Passive Biometrics to be used by du in UAE

“NuDetect uses machine learning to analyze “passive biometrics” like how a person types, holds their phone, moves their mouse or where they use their phone, to anticipate and prevent fraudulent card-not-present transactions, which includes ecommerce payments.  The process to verify the user and occurs without introducing any friction or interruption in the transaction.”
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Security

Mastercard to leverage NuData behavior analysis for untapped African payments market

“Mastercard plans to leverage the data analysis technology it acquired in 2017 with NuData Security to address the potential of the African payments market, Business Dailyreports. Nearly 95 percent of transactions in Africa are made in cash, and Mastercard General Counsel Tim Murphy said on a recent visit to Nairobi, Kenya, that security enhancements provided by NuData’s flagship product […]

On The Wires

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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 […]