Blog | Industry Insights
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CNP Fraud and Your Business
Online sales, telephone sales, and mail-order sales all present opportunities for fraudsters to commit Card Not Present (CNP) fraud. It’s important for merchants to recognize that this prevalent form of fraud is not confined to online sales. Any transaction during which the customer with their payment card is not present is at risk for CNP…
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Machine Learning and Fraud Detection
Every click, like, share, search, and comment can be tracked, stored, and processed to deliver a customized online experience for consumers. Using behavioral analytics, CNP merchants can deliver a dynamic, personalized browsing and shopping experience. The impersonal digital shopping experience quickly gets very personal by mimicking an in-store sales relationship. Now we’re seeing this data…
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The Growing Threat of Account Takeover Fraud
Account takeover fraud is typically thought of as a threat to cardholders. However, merchants are equally at risk to loss and damage to their business due to this prevalent form of payment fraud. The very nature of account takeover fraud results in more loss for the merchant than it does for the cardholder. Whereas the…
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Visa’s Stored Credentials Program
The Visa Stored Credentials Program comes into effect on October 14, 2017. This new program is designed to improve transaction processing for both merchants and customers. All merchants who store payment credentials on file will be impacted by this new program. Recurring billing, subscription services, and m-commerce are on the rise: these are all transactions…
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Are You Prepared for Friendly Fraud?
There is a long-running misunderstanding about fraud that can potentially set up merchants for failure. Many merchants mistakenly believe that the most common type of fraud falls into the white-collar crime category. Sadly, this is very far from the truth. The reality is that merchants of all sizes are repeat victims of friendly fraud. This…
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Advancing Technology For Fraud Prevention
Insights on preventing transaction disputes and chargeback fraud from Verifi, leading experts on payment protection management and e-commerce solutions When a customer sees a charge that they don’t recognize on their credit or debit card statement, often their first reaction is to contact the bank directly, requesting the transaction to be reversed. These disputes often…
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FinTech is Changing Payments – Get Ready
FinTech is here and it’s on an upwards trajectory. Not only is FinTech changing payments, it has already changed payments. In fact, the technologies that define FinTech have made it possible for CNP merchants to exist and prosper. It is hard to know which came first, the technology or the demand. Regardless, FinTech is allowing…
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Recurring Billing and Millennial Buyers
Attracting and keeping millennial buyers as loyal customers is an important goal for CNP merchants. This generation has an estimated $600 billion in purchasing power, which is expected to grow to $1.4 trillion by 2020. These are numbers that merchants can’t afford to ignore. The good news for merchants is that millennial buyers are attracted…
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Empowering Consumers to Prevent Disputes
Remember the small local grocer or family-owned corner store? The owner and the staff knew most everyone who came in. Conversations carried on, big and small issues were discussed, and relationships were built. The customers at these stores felt like they knew who they were buying from, and this created a level of trust and…
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Blockchain Banking and Fraud Prevention
Confidence and trust in fraud prevention and security technologies is a must. Merchants are expected to have fraud-proof solutions in place. Customers are expected to protect their personal data. Issuers and acquirers are trusted with verification and authorization management. These are a lot of layers in a secure payment processing environment. The more layers and…