Analytics

When Visa introduced its analytics tool to screen gas station transactions for fraud two years ago, it may not have been viewed in the petroleum industry as relevant to the expensive conversion to EMV payments at the pump.

According to a study released this week by the marketing analytics firm Bug Insights, the annual fee is by far the No. 1 reason why card users would change providers.

Wells Fargo has accepted two Singapore-based payments companies for its spring 2016 startup accelerator class.

Many financial criminals are switching to a more sophisticated kind of identity theft in which they open accounts based on stolen identities, or on composites of information stolen from different people.

HSBC and American Express Ventures are part of a $75 million investment in Tradeshift, a company that speeds payments between companies and suppliers.

Kyle Largent offered himself up as "Exhibit A" for U.S. online merchants' greatest fear: that EMV chip card adoption at the point of sale would cause fraud to spike online.

For the first time, retailers are facing sizable costs for counterfeit transactions but still not taking measures to mitigate their own risk, raising the question – after six months, how effective is EMV in the U.S.?

Fintech firms and banks should collaborate on using alternative data sources to qualify more borrowers for small-dollar loans.

U.S. card issuers lose $10.9 billion each year to card fraud, according to research released Tuesday by LexisNexis Risk Solutions.

The same multichannel shopping and payment experiences that are designed to reduce cart abandonment may also pose hard-to-spot vulnerabilities that can threaten information security.

The Society for Worldwide Interbank Financial Telecommunication, or Swift, has the ability to oversee security on its network and demand far more of its members to coordinate those efforts. But its current structure may not be the best suited to do that.

To account for the heightened questioning and investigations around the Panama Papers hack, people need to “legal-up” and issuers, financial institutions and processors need to “gear-up” for expected spikes in work related to due diligence, more precise monitoring of transactions, payments and sanctions filtering, possible ad-hoc examination and possible fines.

Unfortunately, as fraud prevention technology advances, so do fraudsters’ tactics. Think of the cat and the mouse. As merchants and financial institutions become better at thwarting traditional fraud techniques, criminals are forced to adapt. The onus is now on the financial institutions and merchants to stay ahead.

As its digital consumer executive, Carrie Sumlin is tasked with making sure Ally Bank offers its customers top-notch digital services since it doesn't have any branches.

Novantas has acquired Chicago-based consulting firm Treasury Strategies.

Open development techniques have contributed to a boom in online and mobile commerce by making it possible for more applications to interact with one another, but now more attention is being devoted to how fraudsters exploit these systems at merchants, payment companies and card issuers.

The drumbeat of news about hackers stealing millions of dollars by gaming the Swift interbank messaging system should have been a wake-up call for banking executives, but it's unclear how many of them answered it. Is it too late for them to shore up their defenses?

Consumers using mobile wallets or mobile banking apps are generally more engaged with their banks or retailers, creating a richer behavioral profile — and fraudsters are looking to exploit this by taking over these users' devices and, by extension, their bank accounts.

Given the news about the recent bank thefts carried out over the Swift messaging system, banks might be wondering if there is an alternative for cross-border payments. Flatly, there isn't.

Credit bureau TransUnion is diversifying its online security services with a strategic partnership announced this week with Dashlane, provider of a fast-growing password-management platform.