It is warfare between consumers, merchants and credit card issuers against fraudsters this holiday season. With more consumers using the more secure EMV microchip credit cards than ever – but still not enough – fraudsters are looking to capitalize on e-commerce businesses. Cyber Monday, the day where online shopping reaches one of its peaks in…
Category: Fraud Prevention
Why Merchants Should Embrace 3D Secure Technology
Different countries – including India and South Africa – have begun to require merchants and credit card issuers to use 3D Secure technology for e-commerce transactions. And there are rumblings that the European Union will soon follow. Could the U.S. be next to mandate 3D Secure? The good folks here at Instabill think so. In fact,…
Holiday Season Brings More Credit Card Photo ID Requests
It’s that time of year again. Shoppers are hitting stores and e-commerce sites in droves, meaning the risk for credit card fraud is more substantial. Luckily, this year we have EMV processing terminals and chip cards in place to help cut out in-store fraud. However, thousands of retailers still lack the proper equipment to facilitate…
CNP Fraud Jumps After EMV Transition
As it was predicted long ago, the rate of card-not-present fraud jumped following the implementation of EMV point-of-sale systems in the United States. As in-store credit card fraud becomes less possible, fraudsters will turn to other methods to commit their crimes. This presents CNP fraud as a major problem for merchants and consumers, as online…
Consumer Awareness of Credit Card Security Growing
With the EMV transition in full swing, merchants, consumers, and financial institutions are busy adjusting to the new system. While the transition may not be happening as quickly as some have hoped, one thing is changing—consumers are becoming more and more aware of the credit card security issues that face the payments world each year,…
Experts: EMV Shift Could Lead to More CNP Fraud
The long-awaited EMV shift arrives this week, and will undoubtedly herald a new era for in-store payment processing. As merchants continue to prepare and launch new pay terminals to accept the new EMV technology, another threat looms—CNP fraud could increase as a result of the heightened security for in-store merchants. EMV and CNP: The Fraud…
Report: Retail Industry Suffers the Most Data Breaches
Recent reports show that most data breaches occur within the retail industry, revealing a major trend in cybercrime and credit card fraud. Other industries often targeted by hackers and cybercriminals include hospitality and food, but the retail industry accounts for nearly half of all global data breaches. Troubling Numbers for the Retail Industry The Trustwave report revealed that 43%…
Bitcoin Education Needed for More Consumer Use
Businesses have warmed to Bitcoin – the proof is in the growing number of merchants and companies that recognize it as currency. Unfamiliarity, loyalty to physical currency and even suspicion has resulted in slow consumer adoption. Alas, Bitcoin use by consumers has been slow. The solution could be Bitcoin education. Where Can Consumers Learn About…
Credit Card Fraud Relief Will Extend Past EMV
EMV chip technology, long heralded as the perfect solution to fighting credit card fraud, could take more time than expected to reduce fraud rates in the U.S. As American credit card issuers, banks, and retailers prepare to make the shift to EMV cards, experts believe that the way in which they are rolling out the…
Secure Your Payment Transactions With Tokenization
When establishing a business, finding the right merchant services provider is paramount. So is securing your transactions, especially in the age of recent credit card data breaches. There will likely never be a failsafe method of securing credit card data from hackers, but tokenization might be the strongest defense yet. Tokenization Endorsed By Experts at…