US Bank to use geolocation to authorize card transactions
Just in time for the holiday season, U.S. Bank has added location services to the U.S. Bank Mobile App, offering U.S. Bank Visa credit and debit card customers technology that uses their phones’ location to help verify whether their mobile devices and credit or debit card are in the same location.
Halloween howler: HSBC suffers online banking gremlins
High street bank HSBC was forced to apologise to UK customers after its online banking service went down for a chunk of Friday.
Digital payments volumes continue to rise globally
Global digital payments volumes are predicted to increase by an average 10.9 percent through to 2020, reaching nearly 726 billion transactions, according to the World Payments Report 2017 (WPR 2017).
Fico to release new CNP fraud fighting modules
Silicon Valley analytic software firm FICO today announced that its new Falcon consortium models for payment card fraud detection include machine learning innovations that improve card-not-present (CNP) fraud detection by 30% without increasing the false positive rate, a standard metric for fraud model performance.
Central banks seek better wholesale payments security
The Committee on Payments and Market Infrastructures (CPMI) has set out a plan to improve the security of wholesale payments that involve financial institutions in a bid to prevent a repeat of last year's $81 million Bangladesh Bank hack.
Sixty-seven percent of central banks are experimenting with blockchain technology - study
Interest in enterprise blockchains and Distributed Ledger Technology (DLT) has grown significantly in the past few years, with at least 115 DLT startups now employing more than two thousand people and many large corporations and public sector institutions focusing on DLT, says the first Global Blockchain Benchmarking Study by the Cambridge Centre for Alternative Finance (CCAF), supported by VISA and professional services firm Ernst and Young (EY).
Firms still struggling with PCI DSS compliance
Despite the wave of costly data breaches over the last few years, nearly half of global firms that accept plastic are still failing to meet Payment Cards Industry (PCI) security standards, according to a report from Verizon.
US debit card fraud declines in wake of chip roll out - Pulse
According to the 2017 Debit Issuer Study, commissioned by PULSE, one of the nation’s leading debit/ATM networks, U.S. financial institutions substantially increased issuance of chip debit cards in 2016 and experienced reduced fraud losses.
