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Consumer demand for banks to adopt biometric authentication doubles
Demand for different types of biometric authentication has risen significantly since 2014, with iris scanning moving ahead of fingerprint technology to the top of the 2016 Future Password Index (FPI). The second iteration of the FPI revealed that 60% of consumers would consider using iris scanning technology in 2016 compared to just 33% two years [...]
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Regulators increase cybersecurity standards at biggest banks
North American regulators have unveiled a new cybersecurity standard to bolster the ability of the country’s largest banks to withstand a major cyberattack, a move aimed at protecting the US financial system. The plan, released jointly by the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency, would [...]
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Card fraud losses hit $21.84 billion in 2015 – up 20.6%
Card fraud losses incurred by banks and merchants on all credit, debit, and prepaid general purpose and private label payment cards issued worldwide reached $21.84 billion last year when global card volume (purchases of goods and services combined with cash advances and withdrawals) totaled $31.310 trillion. This means that for every $100 in volume, 6.97¢ [...]
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E-commerce authentication gets a major makeover with new 3-D secure specification
To encourage the continued growth of e-commerce, merchants and issuers around the globe need intelligent tools to distinguish between good and bad transactions, all while minimizing disruption to consumers at checkout. Without data-driven insights into the riskiness of a transaction, confidently approving ecommerce payments—now originating from a variety of platforms and form factors, each with [...]
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Consumers want additional security to prevent e-commerce fraud
As e-commerce and e-commerce fraud continues to expand, online payment security is a top concern for merchants and consumers, according to a new report from American Express. The 2016 American Express Digital Payments Security Survey found that 70% of US merchants are experiencing an increase in sales through online and mobile channels over the previous [...]
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