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Credit Card Processing for Small Business: Everything You Need to Know

Stax

The fact that the customer is not present physically at your store makes it a high-risk transaction, and the use of security measures like two-factor authentication is highly recommended. This means you pay the applicable rate for the tier your volume of transactions falls under for a particular month.

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FinCEN Files Show Banks’ ‘Whack-a-Mole’ Battle Against KYC/AML

PYMNTS

And in one recent edition of PYMNTS’ KYC/AML Tracker details, the rise of open banking is likely to spur a “fast track” for new AML efforts, including multifactor authentication (MFA) and strong customer authentication (SCA) processes.

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Deep Dive: Orchestrating Complex Authentication And Fraud Decisioning

PYMNTS

It can also help financial institutions (FIs) assess data from multiple channels, create seamless connections and enable them to make complex authentication decisions and detect fraud in real time. Omnichannel Fraud Protection. consumers now use mobile banking.

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KeyBank On Fighting APP Fraud During The COVID-19 Pandemic

PYMNTS

Sixty-one percent of banks report that fraud volumes are increasing over time, 59 percent say the total value of fraud attempts is going up, and 41 percent note that the average value of any given fraud attempt is on the rise. We found from our customers that they do appreciate the right level of authentication.

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As The SCA Deadline Approaches, Issuers Struggle With Preparedness

PYMNTS

The end of the year marks the deadline for European migration to strong customer authentication ( SCA ), a 15-month extension from the original deadline. He said that, in general, online merchants are expecting to see about 25 percent of their volume require SCA.

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Finovate Debuts: Nexmo Brings Seamless Multifactor Authentication to Mobile Banking Apps

Fintech Labs Insights

“At Nexmo we’ve built a verification solution, which is a turnkey product, available as an SDK, that allows you to seamlessly build strong authentication solutions inside your mobile banking app,” Nexmo Product Lead Parth Awasthi explained from the Finovate stage. Stay tuned to Nexmo.com for the latest news!

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GDPR & PSD2: A Silver Lining For Fraudsters?

PYMNTS

Additionally, the strong customer authentication (SCA) mandated by the second Payment Services Directive (PSD2) goes into effect in September of 2019 — and yes, that too counts as “right around the corner.”. PSD2 sets out the requirements for SCA, an identity verification procedure that leverages multifactor authentication.