A Very Different Halloween Horror Story

For many, Halloween is a time for fun, trick or treating, fancy dress, carving pumpkins and apple bobbing. For others, however, Halloween is a time for telling scary tales of witches, vampires and ghosts, playing pranks and watching horror films.

In today’s digital society, it is easier than ever for a horror story to become real life. Being tricked out of your money and identity for example, is easier and more common than you think.

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Global fraud rises again

Figures from this month’s Nilson Report show that global card fraud figures reached $21.84bn in 2015 and is predicted to keep rising. These fraud losses come from a number of sources including counterfeit card fraud, CNP fraud, “friendly” fraud and fraudulent applications.

Ecommerce continues to boom across the world at unforeseen rate. WorldPay recently predicted that global ecommerce figures would hit $2.4tn by 2019. It’s an incredible prediction but if recent history is anything to go by, that figure will no doubt be higher by 2019.

There does then, seem to be a dichotomy in ecommerce. Fraud is growing at a huge rate but it is not impacting on the growth of ecommerce. Consumers are still flocking to laptops and mobile to shop, transact and live their financial lives. It would seem that fraud is not having an impact on the popularity of ecommerce. At least, not yet.

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One-Time-Passwords in the Digital Era

For the past 25 years, one-time-passwords (OTPs) have been relied upon by the financial services industry as an authentication tool for online banking. When consumers access their online banking platform on their browser and attempt to make a transaction, the OTP is usually sent to their mobile phone by an SMS. The user will then enter the OTP into their bank’s online banking platform to authenticate the transaction.

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LONDON, UK. October 27, 2016; MYPINPAD, an enabler of multi-factor authentication for unsecured touchscreen devices such as mobile phones and tablets, has announced that it has joined the ATM Industry Association (ATMIA), a non-profit, global trade group which promotes ATM growth, convenience and best practice worldwide.

Already members of the FIDO Alliance and Vendorcom, MYPINPAD is committed to forging partnerships with alliances and member groups which promote best practice in all areas of the payments industry.

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Winning the business of the millennial generation

There is no demographic being wooed by businesses quite like the millennials. The 18-29 generation is tech savvy, sophisticated, cynical, difficult to market to and, critically, the professionals and spenders of today and the future.

It is little surprise then, that publications are awash with articles and reports on how best to engage with this generation. A recent example here looks at what this generation supposedly wants from banking.

All very interesting and informative but one thing the article doesn’t cover is how the millennial generation like to interact, not just for banking but for commerce in general.

The answer is, unsurprisingly, online.

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Biometrics and the trust factor

Last week was a very busy news week for biometrics.

There was news from Uber that their drivers will soon have to take mandatory and regular selfies in order to verify their identity. This was followed by an announcement from a researcher in Singapore who claimed that iris identification software, as piloted by the new Samsung Galaxy Note 7, would be the catalyst for the development of biometric driven mobile payments. Finally, Leonovo and PayPal, founders of the FIDO Alliance, shared the news that they were working on ways to have fingerprint authentication on laptops for payments.

But, even though biometrics are taking a protagonist position on today’s and tomorrow’s technology, there is still some resistance from users.

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