Mobile payments

Merchants should also monitor fraud by channel, to see how much each channel contributes to total fraud losses, Bernardo Lustosa of ClearSales says.

The modern mobile wallet no longer uses a card as a crutch. Instead, it sees it as an additional product that can add revenue from interchange, lending and loyalty.

Mobile and contactless payments have generated more consumer attention as ways to safely move money during the coronavirus pandemic, but there's also a growing wave of support for The Clearing House's Real Time Payments network for banks.

Ignoring those that came before you, understanding the importance of scope and capacity, and rushing to be the next big thing can help payment startups in good and bad economies, says Leaseweb's Global's Stephane Ngali.

Mastercard and Judopay have teamed up to enable mobile payments through The Pharmacy Centre.

The sessions are interactive, and viewers can purchase products at any time during the session by clicking on a small product window and making a purchase with an app such as Alipay, says Azoya International's Franklin Chu.

As consumers dump cash and traditional point of sale hardware for contactless payments, PayPal has added support for QR codes in 28 countries.

Mobile's already responsible for more than half of online fraud, and that will get worse, says ClearSales's Bernardo Lustosa.

The coronavirus pandemic has had an immediate impact on a wide swath of consumer spending habits and payment choices — some of which may remain in place for some time after the crisis subsides — as certain categories such as travel have fallen to the wayside and others such as grocery stores have risen as more consumers eat meals at home.

Criminals developing EventBot malware built it to take advantage of businesses and humans turning to mobile banking and payments in the current coronavirus crisis — but also to update itself on the fly to become more insidious in the future.