Blog | Industry Insights
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FI and Retailer Groups Set to Establish Cybersecurity Partnership
Retailers and financial institutions have banded together in the wake of highly public security breaches. National trade organizations representing merchants and banks said they are establishing a cybersecurity partnership enabling a higher degree of information sharing about payment and data security efforts, the shift to mobile payments and the growing threat of card-not-present fraud. This…
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Google acquires sound authentication company SlickLogin
Google has purchased SlickLogin, an Israeli start-up company which has developed a sound authentication technology which allows websites to verify a user’s identity by using sound waves. The app analyzes the sound that is sent to the user and sends a signal back that confirms the person’s identity, this security layer is an effective tool…
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Target breach bill estimated to cost the company 1 billion
According to The Payper, the Target data breach has so far cost US banks more than 172 million USD in re-issued plastic cards, according to data from the Consumer Bankers’ Association (CBA). A recent analysis estimated that 4.8 million to 7.2 million of the 40 million cards affected by the breach could experience fraudulent activity,…
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Industry Collaboration To Combat Cyberattacks
On Feb. 13, the banking, payments and retail industries joined forces to combine their efforts to combat cybercrimes. The new partnership will reportedly focus on better information sharing and developing effective technologies to protect consumers and discuss areas of disagreement. Participants include the Financial Services Roundtable, the Retail Industry Leaders Association and several trade associations,…
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Will passwords become a thing of the past?
FIDO Digs Its Teeth Into 21st Century Authentication FIDO (Fast IDentity Online) Alliance, proposed authentication security standards that use modern authentication techniques. The organization seeks to bring two-factor authentication into the mainstream for more secure global payment processing software. By doing so, notoriously vulnerable security measures like passwords will become a thing of the past.…
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What are you doing to reduce churn from credit card declines?
Churn is defined as the probability rate at which customers will cancel their subscriptions. Any vendor with a recurring payment model is at high risk as their business relies on receiving timely, recurring payments. See how other companies boost their card-not-present revenue by reducing or eliminating churn. Did you know that churn from “card declined…
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VERIFI HELPS MERCHANTS TAKE BACK THE HOLIDAYS
…TO ELIMINATE CHARGEBACKS AND REDUCE FRIENDLY FRAUD Los Angeles, CA, November 11, 2013 – Verifi, Inc., the leading provider of payment and risk management solutions for card-not-present merchants today announced the Cyber Monday Chargeback Reduction Program to prepare merchants for the onslaught of chargebacks during the busiest shopping season of the year. Verifi reports that…
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Verifi Joins DRF Advisory Board
Verifi joins DRF board Verifi joined 14 of the largest payment processor and service providers on the advisory board of the Direct Response Forum (DRF). Verifi will be joining the other members of the DRF advisory board including Digital River World Payments, Discover Network, First Data, Global Collect, JCB International Credit Card Co., Ltd., Litle…
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5 Ways to Prevent Friendly Fraud
There is nothing “friendly” about friendly fraud. The negative impact of friendly fraud on businesses is doubly painful, because not only do businesses lose the merchandise, but they don’t get the revenue from the sale. Yet, some of it can be prevented. Often times, there are indicators which may help identify when fraud is happening,…
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Learn the story behind Verifi and what drives its success in the payments industry. Verifi CEO Matthew Katz's full interview with CEO/CFO Magazine.
“Due to the complexity of payments, one of our strengths is to clear out the initial concerns and help them get to the root of their problem and the root of their business to help maximize revenue and lifetime value of their customers. We have one rule of thumb at Verifi and that is we…
