PYMNTS

NOVEMBER 26, 2020

Many banks, utility companies and government agencies have been leveraging two-factor authentication (2FA) for several years. It appears that these stepped-up verification approaches are warranted, too, as tales of security breaches that have ensnared unsuspecting internet users are rampant. Leveraging phone-based verification.

Verification 69

Verification Security Authentication Online and Mobile Banking 69

PYMNTS

OCTOBER 8, 2020

And in digital onboarding, email verification and other authentication technologies can assist in offering a seamless and safe experience for consumers. Data: $509: Average amount that millennials spent on Black Friday in 2019. 20.2%: Share of shoppers who went to a physical store on Black Friday 2019.

Phishing 93

Phishing Authentication Verification Returns 93

PYMNTS

APRIL 3, 2019

Cognito CEO Alain Meier and his colleagues at the identify verification service have a peculiar way of freaking out payment and commerce operators. In a new PYMNTS interview, Karen Webster and Meier talked about the power of the phone number and the role it can play as companies and consumers put more focus on ID verification.

Verification 59

Verification Money Laundering Authentication API 59

PYMNTS

APRIL 25, 2019

For a lot of businesses, “advanced age verification” isn’t really all that advanced. Business owners seem to think that a pop-up is enough — that checking a box is the same thing as providing heightened age verification,” Matt Fields, VP of AgeChecker.Net , told PYMNTS in a recent conversation. Check Yes if you are 18.”.

Verification 78

Verification Checks Best Practices Legal 78

PYMNTS

JANUARY 9, 2020

Chip cards have been heralded for their improved functionality and security, but they have still failed to address critical authentication problems, leaving retailers to bear the brunt of these vulnerabilities. There has not generally been as reliable a system of authentication in the U.S. EMV Cards Face Verification Hurdles.

EMV 52

EMV Verification Chip Cards CHIPS 52

Stax

JANUARY 28, 2025

The payment system was introduced in 2019 by the major card schemes, including Visa, American Express, Mastercard, and Discover in response to the demand for a more standardized, frictionless, and secure online payments regime. The customer will then input the passcode to complete the authentication process.

Payment APIs and Integration 68

Payment APIs and Integration Online and Mobile Banking Payment Gateways Gateways 68

PYMNTS

FEBRUARY 12, 2019

Now, keep that image in mind and consider the idea of end-to-end authentication services, as CPO Philipp Pointner of Jumio does pretty much every working day. When that person seeks to access the account or another service, they must go through an authentication process. Let’s back up to gain a fuller view of the problem at hand.

Verification 57

Verification Authentication Consumer Authentication Digital Payments 57

PYMNTS

AUGUST 6, 2019

The use of digital ID verification methods is becoming more prevalent in consumers’ everyday lives. In light of such breaches, FIs and merchants alike looking for ways to keep the data safe of their customers secure and further improving on their digital ID authentication procedures. With that shift, governments such as the U.K.’s

Verification 59

Verification Authentication Governance Government 59

PYMNTS

JUNE 4, 2019

However, if data is vital to the digital economy, so is identity (ID) verification. If anything has become clear within the last few years, it’s that electronic ID verification — using digital methods and data to confirm and authenticate identities — is increasingly taking on crucial importance. Evolving ID.

Verification 62

Verification Online and Mobile Banking Fraud Prevention Privacy 62

PYMNTS

AUGUST 13, 2020

The company’s clients can currently log in to see authentication rates, protected transactions and additional new offerings, according to an announcement. By comparison, the first 3-D Secure (3DS) technology provides consumers with a user experience marked by lengthy times for processing and verification.

EMV 99

EMV Technology Authentication Visa 99

Fintech News

JANUARY 10, 2024

Recognising the shift towards mobile devices as a primary means of payment and financial services, IDGATE introduced iDenKey, a notable device binding technology that supports risk-based multi-factor authentication and introduced the in-app push notification mechanism.

AML 117

AML Money Laundering Authentication Procedures 117

PYMNTS

DECEMBER 24, 2018

But in hopes of hopping on the holiday bandwagon — and providing data-backed insight in the hottest payment trends for 2019 — allow us to offer this list of a dozen ways that consumers (and some businesses) are paying now, methods that promise to play big roles in 2019. 6: With Person-To-Person Mobile Tech. 7: With Biometrics.

Consumer 83

Consumer Online and Mobile Banking Debit Card Volume 83

The Paypers

DECEMBER 13, 2018

(The Paypers) The Web Fraud Prevention, Identity Verification & Authentication Guide 2018 is now live, offering a complete overview of the latest trends into digital onboarding and fraud mitigation for banks, merchants and PSPs.

Fraud Prevention 34

Fraud Prevention Verification Authentication Mitigation 34

PYMNTS

FEBRUARY 10, 2020

Biometric digital identity verification solutions are becoming more and more commonplace thanks to their implementation in everyday devices like smartphones and fitness wearables. Banco Santander Mexico is in the midst of its own biometric upgrade, having collected customers’ fingerprints and facial data since February 2019.

Data Breach 94

Data Breach Point-of-Sale (POS) Push-to-Card Breach 94

PYMNTS

MARCH 10, 2020

Digital identity solutions are becoming more and more commonplace, especially as consumers grow increasingly aware of the weaknesses of authentication methods like passwords. NatWest Launches Card-Mounted Fingerprint Readers For Contactless Authentication.

Contactless Payments 109

Contactless Payments Authentication Law Enforcement Cross-Border 109

PYMNTS

NOVEMBER 10, 2020

PAAY provides strong authentication at the front door and Bluefin encrypts and tokenizes the data at the point of interaction on the web. New York-headquartered PAAY, a consumer authentication innovator co-founded in 2011 by James Ruffer and Yitz Mendlowitz, has a new security solution that aims to obliterate hacking and fraud threats.

Transactions 93

Transactions Security Encryption CCPA 93

PYMNTS

AUGUST 13, 2020

One 2019 study found that incorrect addresses cause 19 percent of all failed deliveries, for example, and these failed deliveries cost approximately $216,171 per individual business annually. The Address Verification Challenge. How Autocomplete Addresses The Data Problem.

Addressing 57

Addressing Verification API SWIFT 57

PYMNTS

JUNE 8, 2020

percent between 2019 and 2026, hitting $43.2 Tightening Authentication. FIs must use highly secure methods to authenticate customers’ identities and make it difficult for cybercriminals that manage to steal customer information to pass themselves off as legitimate customers. percent “less likely to be compromised.”.

Authentication 60

Authentication MFA Phishing Scams 60

PYMNTS

AUGUST 20, 2019

Despite their popularity, platforms use weak identity verification and authentication techniques to sign on new users and login returning ones, which puts consumers data and digital identity at risk. Our survey showed that sharing economy users were most satisfied with authenticating their identities using fingerprint scans.

Economy 64

Economy Consumer Verification Authentication 64

PYMNTS

MARCH 7, 2019

And that includes combining ID verification and authentication. He offered a report on the state of digital identity in early 2019. And the realization is growing, he added, that “what’s been done in the past is not adequate” when it comes to secure onboarding and authentication. In the U.K., Hurdles for Security.

Fraud Prevention 69

Fraud Prevention Verification Authentication Push-to-Card 69

Finovate

SEPTEMBER 24, 2024

Voice authentication technology innovator Illuma Labs has raised $9 million in funding. As the first major investment for the company, the capital will help accelerate the development of Illuma’s voice verification offerings to help banks and other institutions fight fraud, voice cloning, deep fakes, and more.

Credit Union 59

Credit Union Deepfake Authentication Fraud Prevention 59

PYMNTS

DECEMBER 11, 2020

Into the breach steps identity verification solutions that have spent this year using artificial intelligence (AI), machine learning (ML) and other financial automation that’s making it more difficult by the day for criminals to wash stolen loot through the accounts of legit customers.

Money Laundering 87

Money Laundering AML Cryptocurrency Verification 87

PYMNTS

AUGUST 7, 2019

At this point in 2019, we’ve all dealt with some flavor of two-factor authentication that uses SMS one-time passcodes. It is perhaps easy to beat up on SMS-based authentication for how relatively easy it is to overcome — but it is perhaps a bit unreasonable to expect it to act as an authentication method.

Authentication 44

Authentication Consumer Authentication Consumer Ubiquitous 44

PYMNTS

JUNE 11, 2020

The technology itself is not new — many consumers already use biometric authentication in their daily lives, with 80 percent of consumers using their fingerprints to unlock their smartphones, for example. million to expand its facial recognition and ID documentation verification services internationally. Washington, D.C.-based

AML 74

AML Legal Compliance Verification 74

PYMNTS

NOVEMBER 17, 2020

This overwhelming reliance on smartphones has generated record profits for major telecommunications companies, including AT&T , Sprint and Verizon , with the industry generating $610 billion in revenue in 2019. Telecommunications companies face a number of challenges in their day-to-day operations, however.

Multifactor Authentication 107

Multifactor Authentication Online and Mobile Banking Checks MFA 107

PYMNTS

SEPTEMBER 10, 2018

In other news, China’s Supreme People’s Court has ruled that blockchain can now be legally used to authenticate evidence in legal disputes, as long as parties can prove the legitimacy of the technology being used.

Authentication 44

Authentication Bitcoin Blockchain Cross-Border Payments 44

PYMNTS

AUGUST 21, 2019

Dealing with the online aspect of disaster relief requires a new, tighter approach to ID verification and authentication. Better ID Verification. That data can go a long way toward tighter, more secure verification and authentication efforts. So what’s the solution to that growing problem?

Verification 75

Verification Authentication Database Economy 75

PYMNTS

JANUARY 19, 2021

Partly for this reason, the January Digital Identity Tracker® notes, “smartphones with native biometric capabilities are likely to become a dominant tool in verification for financial services within this same time frame. That same report noted “an encouraging drop of 24 percent in ID-based fraud rates in 2020 from 2019.

Continuity 60

Continuity Verification Online and Mobile Banking Cross-Border 60

PYMNTS

AUGUST 21, 2019

Case in point: Cognito ’s forthcoming business verification product, according to CEO Alan Meier. There are all kinds of points in an individual authentication process where information about a business and its standing are relevant. We learned that the business verification world is less developed than its consumer counterpart.

Verification 68

Verification Procedures Automation Compliance 68

PYMNTS

MARCH 20, 2020

Many are turning to artificial intelligence (AI), machine learning (ML) and other advanced learning solutions to prevent and detect breaches before they can cause large-scale problems, but bad actors are using the same set of tools to sidestep authentication processes or impersonate legitimate customers.

Fraud Prevention 90

Fraud Prevention Account Takeovers Phishing AI 90

PYMNTS

JUNE 10, 2019

In a new PYMNTS discussion, Karen Webster and Debbie Gamble, chief officer of innovation labs and new ventures at Interac , spoke about what trust really means to digital commerce and payments as 2019 tilts toward 2020, and how online and mobile players can make sure they are on the right path. Data, of course, plays a big role in all this.

Online and Mobile Banking 66

Online and Mobile Banking Authentication Data Breach Credential 66

PYMNTS

MARCH 11, 2020

Fines related to noncompliance increased 160 percent between September 2018 and December 2019, in fact. The March AML/KYC Tracker® explores the changing regulatory environment and new initiatives for improving customer identity verification and authentication. Around The AML/KYC World.

Global Payments 60

Global Payments Money Laundering AML Online and Mobile Banking 60

PYMNTS

JULY 15, 2019

billion is estimated to have been lost to cryptocurrency scams, thefts and fraud in the first quarter of 2019, and cybercriminals and scammers are not the only ones putting digital asset users at risk. More than $1.2 Bitbuy has used proprietary methods to analyze transactional data for patterns and activities that could indicate red flags.

Crime 77

Crime Cryptocurrency Law Enforcement Verification 77

PYMNTS

JUNE 29, 2020

Mobile deposits, meanwhile, were up over 80 percent in April 2020 compared to April 2019.”. Onboarding can be a tedious process, including time-consuming regulatory checks, document verification and identity authentication. In March, the number of [mobile] checks deposited was up 40 percent over February, for example.

Online and Mobile Banking 126

Online and Mobile Banking IRS Adjustments Checks 126

PYMNTS

JANUARY 25, 2021

Add to that the introduction of strong customer authentication (SCA), which was mandated in 2019 and implemented in September of 2020, and yet another layer of friction is added for card-based payments. According to Soliman, PayDirect is the answer to those issues. The challenge is in getting merchants and customers to try it.

Instant Payments 120

Instant Payments Push-to-Card Payments Money Laundering 120

PYMNTS

JUNE 29, 2020

It has been steadily gaining popularity in recent years, with more than 10,000 financial institutions (FIs) around the world practicing open banking and 87 percent of the world’s nations having open banking protocols in place as of 2019. billion such attacks between December 2017 and November 2019, 16.55 There were 85.42

MFA 96

MFA Risk Security API 96

PYMNTS

JUNE 3, 2020

Bad actors often find them a more appealing target than the apps to which they are connected, as they can bypass in-app authentication procedures and seize control of all connected apps at the same time by infiltrating the API’s code. Deep Dive: Harnessing Authentication, Machine Learning To Counter B2B API Fraud. About The Tracker.

Real Time Payments 75

Real Time Payments API B2B MFA 75