Leumi Card to use Feedzai’s artificial intelligence platform to fight fraud

Leumi Card to use Feedzai’s artificial intelligence platform to fight fraud — Feedzai — “‘Fraud mitigation tools have not kept pace with today’s mobile-enabled, always-connected consumers,’ said Gilead Kehat EVP human resources and staff of Leumi Card, ‘Feedzai’s agile machine learning platform helps predict and prevent fraud before it impacts our customers.’”



US consumers turn to digital payments for online purchases

American Express

More than 70% of online shoppers across the US have used digital payment services including mobile wallets, one-click checkout buttons and peer-to-peer (P2P) payment apps, research released by American Express reveals, with 41% “always or sometimes” choosing to use digital solutions when they pay... More


Nets rolls out preventative fraud service to protect online consumers across the Nordics

Nets rolls out preventative fraud service to protect online consumers across the Nordics — Nets — “The service is designed to mitigate two high growth instances of online fraud: ‘too good to be true’ clickbait offers and unsolicited direct debits, and works by continuously analysing data collected from card disputes to proactively identify and block transaction requests between consumers and fraudulent merchants.”


Dubai to pilot biometric border system based on digital passports

DSG

Passengers travelling to Dubai will soon begin piloting a biometric border system that makes use of blockchain technology and lets them walk straight to baggage reclaim through a short tunnel which conducts a three dimensional scan of their face and instantly checks them into the country using an entirely digital version of their passport... More



Visa upgrades Verified by Visa technology to enhance security and simplify online payments

Visa upgrades Verified by Visa technology to enhance security and simplify online payments — Visa — “The upgrade will deliver rich data to financial institutions and merchants to better authenticate consumers and reduce fraud on transactions made via a mobile or desktop browser, app, or connected device… Current Visa rules for merchant-attempted transactions using 3-D Secure will extend to the updated version beginning April 2019.”



One in four banks find it difficult to verify the identity of online banking customers

One in four banks find it difficult to verify the identity of online banking customers — Kaspersky Lab — “According to the research, in 2016, 30% of banks have had security incidents affecting banking services delivered via the internet — with phishing against customers, and using customer credentials for fraudulent activities, as the top contributing factor leading to the attacks.”




Visa and American Express to strengthen security for stolen contactless cards

Visa contactless security

Visa is to bring all of its contactless transactions online this year across 10 European countries to give consumers “more control over their accounts” following calls from the UK’s Financial Conduct Authority (FCA) for banks to tighten the processes they undergo when a customer reports a stolen contactless card. American Express is also “reviewing options” to ensure those who cancel their cards are protected against contactless fraud. More





White paper explores how dedicated Android NFC devices can be used to improve the delivery of financial services in emerging markets

Famoco Emerging Markets white paper

Secure, affordable and dedicated Android NFC devices issued to local agents, farmers and financial institutions in emerging markets are improving the delivery of a wide range of services including branchless banking, know your customer procedures and food aid distribution, according to a 19-page white paper that is now available to download from the NFC World Knowledge Centre. More




Consumers show more trust in mobile wallet security

Global consumers are “more concerned” with protecting their financial and payments information on a computer than protecting the same data in a mobile wallet, ACI Worldwide and Aite Group research reveals, with more than 80% believing their mobile wallet data is secure... More


Secure element security added to web applications

GlobalPlatform

GlobalPlatform has released Web API for Accessing Secure Elements v1.0, a standardised communications interface between web applications and secure elements (SEs) that will enable sensitive data from online applications to be stored and processed in a secure, isolated environment... More


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