Payment fraud is expected to jump from $28 billion globally in 2020 to $49 billion in 2030, according to analysts. Those figures, said Linda Weston, head of core product at Barclaycard Payments, point to the enormous threat online retailers are facing in the payments space,...
Changes to strong customer authentication (SCA) rules in Europe are aiming to reduce customer friction. In the EU, the European Banking Authority (EBA) has updated its regulatory technical standards (RTS) to extend the 90-day “reauthentication rule” to 180 days. Under the EU’s old RTS, customers...
In the never-ending cat-and-mouse game between those looking to defraud consumers and others looking to protect them, the advent of enhanced Strong Customer Authentication (SCA) for payments has equipped consumers with a key weapon. In the U.K., for example, new SCA rules for eCommerce came...
The European Banking Authority (EBA) published on Thursday, June 23 an opinion in response to the European Commission’s call for advice on the upcoming review of the Payment Services Directive (PDS2). The opinion, far from being a mere reply to fulfill its statutory duties, contains...
March 08, 2023
Payment fraud is expected to jump from $28 billion globally in 2020 to $49 billion in 2030, according to analysts. Those figures, said Linda Weston, head of core product at Barclaycard Payments, point to the enormous threat online retailers are facing in the payments space, not to mention the added burden of ensuring optimal protection […]
June 29, 2020
The pandemic has drastically affected how consumers are shopping and paying for even routine purchases, and this in turn has altered how businesses are accepting their payments. The rise of...
June 08, 2020
The pandemic has introduced new variables into innovations, payments and commerce — setting up headwinds in some cases as businesses shutter, and tailwinds as consumers and enterprises embrace digital transactions...
June 05, 2020
Financial institutions (FIs) in the European Union (EU) and the United Kingdom are still thinking positively about open banking even as the COVID-19 pandemic creates obstacles. FIs and their regulators...
May 23, 2024
Financial services industry initiatives helped drive down fraud losses in the United Kingdom in 2023. Criminals stole about 1.2 billion pounds (about $1.5 billion) through fraud that year — a figure that was down 4% from 2022 — UK Finance, a trade association for the banking and finance industry, said in a Wednesday (May 22) press release. […]
December 08, 2020
Spreedly announced Tuesday (Dec. 8) in a blog post that clients can now harness the company’s payments orchestration platform as a single way to handle their Strong Customer Authentication (SCA)...
February 07, 2020
The European Union has issued new rules for contactless payments, which has caused confusion and forced one digital bank to issue new cards, according to a report in the Telegraph....
April 17, 2019
Stripe has announced the launch of new products and updates that will help merchants implement the best Strong Customer Authentication (SCA)-ready authentication methods ahead of the September SCA deadline. SCA, a...
