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Deep Dive: Why Friendly Fraud Is Anything But Friendly

PYMNTS

Mobile app developers and restaurant owners are thus pouring resources into countering threats and avoiding data breaches that harm both them and their customers. Card Verification Value (CVV2) codes cannot be stored on restaurants’ systems and are therefore far less likely to fall into the wrong hands.

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What Is A Payment Service Provider (PSP)?

Nanonets

• Fraud prevention: PSPs use various methods to prevent fraud, such as AVS and CVV2 checks. When evaluating security measures, look for features such as data encryption, fraud detection and prevention, and customer authentication. In addition, find out what steps the PSP takes in the event of a data breach.

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How Vendors Can Lower The Cost (And Risks) Of Card Acceptance

PYMNTS

Earlier this month, PNC Bank announced it was testing its CNP fraud solution for commercial card products, deploying dynamic CVV2 technology in partnership with Visa, TSYS and IDEMIA. Vendors that store card details for repeated purchases from their customers similarly face the risks of data breaches.

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Virtual Credit Card Fraud: Its Risks & How to Prevent it

Seon

As such, organizations need to be aware that VCCs are yet another digital temptation to attract online fraudsters, and that can lead to plenty of other layers of a data breach. These are three of the many approaches you can take to ensure the successful use of dynamic friction when dealing with potential VCC fraudsters.