VISTA InfoSec

MARCH 28, 2024

For example, if you’re only shipping products, you might not need to collect customers’ birthdates unless it’s relevant for legal age verification. Data Security To secure customer data, employ encryption for data at rest and in transit.

Data Breach 278

Data Breach Regulatory Compliance Breach Encryption 278

Evolve Payment

OCTOBER 22, 2024

This newly developing deepfake trend poses a serious risk to businesses of all sizes, making advanced identity verification more critical than ever. One way we do this is through rigorous qualification processes, which sometimes include requests that seem strange on the surface, such as requesting a selfie for identity verification.

Deepfake 98

Deepfake Verification Fraud Detection AI 98

The Fintech Times

APRIL 2, 2025

WhatsApp prides itself on the security of its encrypted messages, however, according to new research from Revolut, the global fintech with 11 million UK customers and 50 million globally, UK consumers are losing an average of 2,437 from scams originating on the communications platform. Encryption does not equate to immunity from scams.

Scams 59

Scams Consumer Financial Crimes Encryption 59

The Payments Association

MARCH 19, 2025

Today, they facilitate everything from identity verification to peer-to-peer transactions, quietly redefining the banking experience and making traditional financial institutions play catch-up. Digital wallet providers must: Implement robust encryption and tokenisation to protect card details and transaction data.

Digital Payments 88

Digital Payments Finance Online and Mobile Banking Payments 88

Stax

APRIL 3, 2025

The details are then encrypted and transmitted to a third-party payment gateway for authorization. Encryption – Encryption converts plain text into coded characters that can only be decoded by authorized users. You can also add other security preferences like address verification (AVS) or card verification (CVV) checks.

Payment Solutions 88

Payment Solutions Payment APIs and Integration Payment Gateways Gateways 88

VISTA InfoSec

FEBRUARY 25, 2024

Payment Information This encompasses full credit/debit card numbers, card verification codes, expiration dates, billing addresses, bank/routing account details, wire transfer logs, and other payment information.

Data Breach 272

Data Breach Breach Multifactor Authentication Cybersecurity 272

Clearly Payments

NOVEMBER 13, 2024

Card Verification and Authentication : BINs support the verification process by providing immediate access to the issuing institution’s information. Verification and Approval : The issuing bank reviews the transaction, confirms the cardholder’s account details, and assesses if there are sufficient funds or available credit.

Process 104

Process Processors Payments Compliance 104

EBizCharge

MARCH 18, 2025

PCI-compliant Sage 100 payment software providers must maintain strict security standards and enforce various measures, such as advanced encryption and tokenization, to safeguard sensitive payment data. By adhering to these standards, businesses can reduce data breach risks and maintain regulatory compliance.

Credit Cards 52

Credit Cards Process Security Data Breach 52

VISTA InfoSec

APRIL 5, 2024

Cybersecurity measures such as data encryption, two-step verification, and stringent policies on data access are some of the things that should be implemented in order to minimize online threats. The road to recovery could be expensive if it involves customer complaints, internal investigation, and legal proceedings.

Best Practices 278

Best Practices Business Continuity Continuity Compromise 278

PYMNTS

OCTOBER 8, 2020

“During mobile app sign-up, we verify details with 2FA using text messaging and email verification,” Wuerch said. “We We have bank-level encryption to ensure information is safe and secure. We also use multifactor authentication and 2FA to prevent unauthorized access to ensure all of our wallets are always safe.

Verification 83

Verification Multifactor Authentication Authentication Online and Mobile Banking 83

Stax

DECEMBER 12, 2024

These capture, encrypt, and transmit the customers payment details from the eCommerce website to the payment processor. This encryption turns data into an unreadable format to prevent fraud and security breaches. They also integrate with business management tools (e.g., inventory, CRM, and accounting software). Payment gateways.

Small Business 88

Small Business Online and Mobile Banking Volume Checks 88

Clearly Payments

JANUARY 14, 2025

One key challenge businesses mentioned is finding a balance between security measures (like extra verification steps) and a quick, hassle-free checkout. Tools like tokenization , encryption, and secure customer data storage can build trust. If the payment process is slow, complicated, or feels unsafe, customers might look elsewhere.

Online and Mobile Banking 105

Online and Mobile Banking Processors Payments Debit Card 105

EBizCharge

NOVEMBER 27, 2024

The gateway acts as the intermediary that collects, encrypts, and transmits transaction data to the payment processor. Features like Address Verification Systems (AVs), Card Verification Value (CVV) checks, and encryption protocols protect sensitive customer data and minimize chargebacks.

Accounts 52

Accounts Payment Gateways Gateways Payment APIs and Integration 52

Stax

JANUARY 21, 2025

Ensure the gateway offers PCI DSS compliance, encryption, tokenization, and fraud prevention tools to safeguard transactions. The payment gateway collects and encrypts sensitive customer payment details and then securely sends them to the payment processor. Learn More What is a Payment Gateway?

Payment Gateways 88

Payment Gateways Gateways PCI DSS Payment APIs and Integration 88

Clearly Payments

MARCH 14, 2025

Merchant Sends Transaction Request : The merchant’s POS system or online payment gateway encrypts and transmits the transaction data to the acquiring bank or payment processor. 3D Secure Authentication : Adds an additional verification step for online transactions, such as a one-time password (OTP) or biometric authentication.

Credit Cards 52

Credit Cards Transactions PCI DSS Online and Mobile Banking 52

Fintech News

APRIL 10, 2024

Entrust, known for its trusted payment and data security solutions, has finalised its acquisition of identity verification company Onfido. This merger brings together Entrust’s security solutions with Onfido’s advanced identity verification technology, aiming to address the growing threats of identity fraud and data breaches.

Verification 107

Verification Data Breach Encryption Cybersecurity 107

PYMNTS

MARCH 29, 2019

The goals of any digital identity verification process or technology include stopping fraud in its tracks, preventing fake accounts from ever being opened and, at the most basic level, maintaining (and even building) a client’s reputation for trustworthiness. Are end users ready to manage their own IDs? Healthy Friction.

Verification 68

Verification Authentication Cross-Border Risk 68

Stax

MARCH 4, 2025

TL;DR Online payments rely on API or hosted gateways with encryption and fraud detection, while in-store transactions require POS hardware with EMV chip technology and NFC capabilities. Implement SSL (Secure Sockets Layer) encryption to ensure secure data transmission between your website and payment gateway.

Credit Cards 88

Credit Cards Payment APIs and Integration Payment Gateways Gateways 88

Fintech News

NOVEMBER 6, 2024

Brankas’ platform addresses key compliance requirements such as API standardization, authentication, and encryption. The integration of ADVANCE.AI’s technology provides features such as real-time identity verification, fraud detection, and risk assessments, which help financial institutions meet regulatory demands securely.

Compliance 102

Compliance Payment APIs and Integration Fraud Detection Risk Assessment 102

Clearly Payments

OCTOBER 22, 2024

PIN Encryption : Once the customer enters the PIN, it is encrypted immediately to protect the information. Encryption ensures the PIN cannot be intercepted or stolen during transmission. Verification : The encrypted PIN is sent to the card issuer’s system, where it is matched against the cardholder’s stored PIN.

Debit Card 105

Debit Card Credit Cards Point-of-Sale (POS) Encryption 105

Stax

MARCH 11, 2025

The payment processor : this is the payment services provider that handles the verification and transfer of data and funds between the financial institutions involved in that transaction. Payment verification Once the payment processor receives the now-encrypted payment information, it will be sent to the issuing bank for verification.

Online Payment Processing 88

Online Payment Processing Process Payment Gateways Online and Mobile Banking 88

The Paypers

JANUARY 24, 2025

Entrust has launched an AI-powered identity verification as a new tool for its IDaaS platform, enabling facial biometric authentication by verifying users against their encrypted identity.

Authentication 68

Authentication AI Encryption Verification 68

Nanonets

OCTOBER 9, 2024

  Whether you're a loan officer reviewing an application or a business owner ensuring your clients’ payments are in order, bank statement verification is integral to ensuring financial accuracy and fraud prevention. Let’s discuss bank statement verification and find answers to some of your biggest challenges.

Verification 52

Verification AI Reconciliation Payment APIs and Integration 52

PYMNTS

NOVEMBER 10, 2020

Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommerce security. PAAY provides strong authentication at the front door and Bluefin encrypts and tokenizes the data at the point of interaction on the web. Getting the European Union on the path to 3D Secure 2.0

Transactions 93

Transactions Security Encryption CCPA 93

PYMNTS

JULY 17, 2019

There are billions of individuals online, trillions of dollars in commerce exchanged digitally, and a myriad of approaches to online verification. The most recently-issued cards feature encryption and chips, containing personal information spanning gender, address and ethnicity.

Verification 74

Verification Cross-Border Push-to-Card Online and Mobile Banking 74

PYMNTS

NOVEMBER 9, 2020

The key features, according to the release, include invoice exchanges and creation and online purchase orders; shipping documents and sharing trade security through encryption; the ability to expand and include other banks and trading partners; and instant settlement and verification for payments.

B2B 93

B2B Encryption Consulting Settlement 93

PYMNTS

AUGUST 6, 2019

The use of digital ID verification methods is becoming more prevalent in consumers’ everyday lives. Passengers flying between Montreal, Toronto and Amsterdam will be able to substitute their passports for encrypted identity data that airline staff and customs authorities can check against biometric information.

Verification 59

Verification Authentication Governance Government 59

The Payments Association

DECEMBER 9, 2024

These capabilities make LLMs ideal for real-time fraud detection, transaction monitoring, and identity verification, helping payment providers stay one step ahead of fraudsters and ensuring a more secure financial ecosystem. This is where AI shines, as it can rapidly analyse vast amounts of data to detect fraud and ensure efficiency.

Privacy 88

Privacy Payment Security AI Security 88

Stax

NOVEMBER 14, 2024

These can include terminal fees, early termination fees, setup fees, reprogramming fees, PCI compliance fees, address verification fees, chargeback and retrieval fees, and payment gateway fees. All you need to do is enter the payment info into your virtual terminal and it will then be encrypted, authorized, and submitted for online payment.

Credit Cards 88

Credit Cards Process Online and Mobile Banking Payment APIs and Integration 88

EBizCharge

JANUARY 21, 2025

Secure payment processing: Data encryption ensures that credit card details and payment data are secure, reducing fraud risk. Virtual terminals should implement strong payment security measures like encryption, tokenization, address encryption, address verification, and secure gateways to prevent fraud and data breaches.

Credit Cards 52

Credit Cards Encryption ACH Process 52

Stax

JANUARY 28, 2025

Step 3: The payment services provider authenticates the transaction Once the customer selects a preferred card network, the merchants payment gateway will send the transaction details to the merchants payment services provider who will then contact the customers issuing bank for payment verification.

Payment APIs and Integration 68

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

PYMNTS

MAY 30, 2018

Gone are the days when a POS device might be outfitted with a single encryption key needed for debit transactions. Now, with the emergence of things like point-to-point encryption, POS devices are increasingly being fitted with as many as 10 encryption key slots. The permutations are staggering.

Encryption 49

Encryption Audit Point-of-Sale (POS) Acquirers 49

PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. Personally identifiable consumer information is encrypted end-to-end, then anonymized, de-personalized and bifurcated to ensure that the data is secure.

Authentication 43

Authentication Verification Fraud Prevention Encryption 43

Segpay

DECEMBER 13, 2024

Traditionally, organizations have employed a range of methods for identity verification, from passwords to multi-factor authentication (MFA) and, increasingly, biometric solutions. For example, using encryption and anonymization techniques can help protect sensitive data in authentication processes.

Privacy 105

Privacy Compliance CCPA Authentication 105

EBizCharge

JANUARY 14, 2025

Overall, the payment gateway acts as a secure bridge that encrypts sensitive data, such as credit card details, to ensure the transaction is processed safely and efficiently. Strong encryption builds trust with customers and reduces the risk of data breaches. Fraud detection and prevention are critical features of a payment gateway.

Payment Gateways 52

Payment Gateways Gateways Payment APIs and Integration Online and Mobile Banking 52

Stax

MARCH 4, 2024

It’s also critical to ensure card information is protected from data breaches with secure encryption and cybersecurity standards in place. NFC payments, including digital wallets, are very secure, relying on encryption to mask the card number, further protecting cardholder information.

PCI DSS 88

PCI DSS Payment Security Security MFA 88

Segpay

FEBRUARY 21, 2024

ID Verification Generative AI plays a crucial role in identity verification by incorporating advanced biometric authentication methods. Secure Data Encryption: Generative AI contributes to the development of secure data encryption methods.

AI 105

AI Innovation Fraud Detection Encryption 105