With millions of microchips needed annually to equip smart chip payment cards, the American Bankers Association today told the Commerce Department that a “whole-of-government approach” is needed to weather the expected shortages in the global chip supply.
Locking down the ecosystem—making the digital banking experience more secure—should be high on the list of goals for the future-is-now bank.
With EMV card deployment reducing fraud at the point of sale, cyber-criminal schemes are targeting email, mobile devices and other channels.
Debit card use and market penetration continued to grow last year, while fraud losses declined, according to Pulse’s debit issuer survey released this morning.
Read on for further insights on faster payments, open banking, security and more.
Payment fraud remains rare, representing small fractions of 1 percent of the total number and the total value of payments, according to the Federal Reserve Payments Study released today.
Debit card use and market penetration continued to grow in 2017, while fraud losses declined, according to Pulse’s debit issuer survey released today.
Retailers that have completed their EMV chip card technology upgrades have seen counterfeit fraud drop 76 percent from the end of 2015 to the end of 2017, according to new figures released today by Visa.
ABA and six other financial trade organizations wrote to House leaders today underscoring the need for businesses across all industries to be held to the same data protection and breach notification standards currently adhered to by regulated financial institutions.
As retailers nationwide continue to transition to chip card technology, those who have completed their upgrades have noticed a significant decline in counterfeit fraud, according to a new infographic by Visa.