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Markets across Europe have made significant gains in the fight against card fraud, specifically in France and the UK, which achieved six percent and eight percent reductions. Despite this, losses across the EMEA region grew by €30 million. The threat of card not present (CNP) fraud continues to be a key battleground for banks and [...]
Online retailers are continuing to lose out on sales by failing to address customers’ preferred alternative payment methods. According to new research, 67 percent of UK consumers have abandoned an online retail transaction due to the payment process, only down one percent in the past four years from 68 percent in 2014. The biggest reason [...]
The post UK CUSTOMERS ABANDON E-COMMERCE PURCHASES DUE TO LACK OF APMs appeared first on Payments Cards & Mobile.
In June 2018, Indian police in Mumbai, the country’s financial capital, broke the back of a card fraud and cloning racket that involved waiters at bars and restaurants across the city stealing data using credit card skimmers. The accused had managed to steal the credit card and debit card data of some 1,000 unsuspecting customers [...]
The post ROCKETING INDIAN CARD FRAUD THWARTS CASHLESS SOCIETY appeared first on Payments Cards & Mobile.
Barclays says it will embrace the Open Banking revolution by updating its core mobile banking app allowing customers to view accounts from rival banks in one place. This change has been driven by the new Open Banking regulations which came into force earlier this year. Open Banking is a European regulation which forces the banks [...]
The post BARCLAYS EMBRACE OPEN BANKING WITH 3RD PARTY ACCOUNT VIEW appeared first on Payments Cards & Mobile.
Amex has won an eight-year antitrust lawsuit over interchange fees. The Supreme Court ruling at the end of June found that the card company’s ‘anti-steering’ rules did not violate federal antitrust law. The rules prevent merchants from encouraging customers to use cards with lower interchange fees, such as Visa or Mastercard. Amex has historically charged [...]