Alternative payments fuelling Australian e-commerce
E-commerce sales in Australia registered sustained growth over the last few years supported by availability of secure online payment tools, increasing number of online shoppers, and proliferation of online merchants and payment tools. Against this backdrop, alternative payment methods such as mobile and digital wallets are set to account for 34.1% of the payments made […]
Implementing Multi-Factor Authentication: Strengthening security in digital payments
As the digital payments landscape expands, so do potential vulnerabilities. It is critical for businesses to enhance their security measures, particularly in the realm of digital commerce. One effective method of safeguarding sensitive information is the use of Multi-Factor Authentication (MFA). Here are steps to put MFA in place for the digital payments element of […]
Join Experian, Royal Mail and Virgin Media at the Merchant Fraud SUmmit
If you’re a professional tackling payment fraud, you should join 60 of your peers at the Merchant Fraud Summit in November. The MF Summit takes place on the 1st November, at the Hilton London Canary Wharf As a financial crime, risk and lost prevention professional, attendance is entirely free and includes; You’ll be joining representatives from; Virgin Media, Royal Mail, […]
BPFI data shows increase in payment fraud in ireland
Fraudsters stole nearly €85 million (€84.6m) through frauds and scams in Ireland during 2022, an increase of 8.8% on 2021, according to a detailed report published by FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI). The FraudSMART Payment Fraud Report H2 2022 outlines how card fraud accounted for over 95% […]
HOW TO: Implement anti-fraud measures for digital payments
In today’s digital era, businesses must be vigilant in protecting their payment systems against fraudulent activities. Establishing robust anti-fraud measures is vital to safeguard both your business and your customers. Here are key steps you can take to implement effective anti-fraud measures for digital payments… The first step is to educate and train your staff. […]
Cryptocurrencies proving resilient, but ‘face challenges’ on road to mainstream acceptance
In November 2021, the combined market value of all cryptocurrencies soared to a record-breaking $3 trillion. However, adverse macroeconomic circumstances and the collapse of major players, most notably FTX, caused a sharp 64% decline in 2022, plummeting below $800 million. The market has since recovered in 2023, reaching $1.1 trillion, according to GlobalData. Its latest […]
Staying Ahead of the Game: What’s new in payment fraud detection tools and technology
In the fast-paced world of digital payments, fraud detection critical. Cybercriminals are constantly evolving their tactics, necessitating more sophisticated tools and technologies to counter these threats. As the sector continues to evolve, several key trends are emerging in payment fraud detection. Firstly, the use of Artificial Intelligence (AI) and Machine Learning (ML) is transforming fraud […]
Do you specialise in Digital Identity Verification or Multi-factor Authentication? We want to hear from you!
Each month on Merchant Fraud Briefing we’re shining the spotlight on a different part of the market – and in August we’ll be focussing on Digital Identity Verification & Multi-factor Authentication. It’s all part of our ‘Recommended’ editorial feature, designed to help industry buyers find the best products and services available today. So, if you specialise in Digital […]
Banking investment in IT set to soar, driven by security
Global IT spending by banking and investment services is forecast to hit $652.1 billion in 2023, representing an increase of 8.1% from 2022, with spending on software experiencing the largest growth at 13.5%. “Current economic headwinds have changed the context for technology investments in banking and investment services this year,” said Debbie Buckland, Director Analyst at […]
Banking & financial services driving renewed growth in biometric hardware
Global biometric device shipments fell from 4.1 million in 2019 to 3.4 million in 2021 and recovered slightly to 3.6 million in 2022, with global trends impacting usage in banking, financial services and insurance (BFSI) sectors. According to a new report by technology intelligence firm ABI Research, geopolitical and macroeconomic events, including the conflict in […]
