Interchange and fee changes are placed on hold to help the digital payments industry. Due to the massive disruptions of businesses caused by the COVID-19 pandemic, Visa made the announcement that they will delay the increase in credit card “swipe fees” until the following year, in April 2021. However, it will continue to move forward with its efforts to lower...
Merchant accounts face great vulnerability as fraudsters engage in ATO. A survey released by Riskified, a payments and fraud solutions provider, revealed an eye-opening revelation on the devastating effects of ATO’s or Account Takeover attacks on both customers and eCommerce business owners alike. An ATO occurs when a fraudster successfully gains access to a customer’s stored account information within an...
If you are looking for a comprehensive fraud solution, look no further than EMB. Credit card fraud continues to plague merchants and customers alike. As criminals are becoming more sophisticated and innovative with their tactics of stealing financial information for unauthorized transactions, more has to be done to thwart their efforts. With the introduction of EMV credit cards, brick and...
If you are in business for yourself, it is imperative to have a way for your customers to pay you for your goods and services. Choosing a reputable credit card processor positions you to accept both credit and debit card payments either online or at point of purchase. As more and more consumers opt for carrying more plastic than cash,...
As a business, your ability to act in your customers’ interests is paramount for return business. Obviously, the first level of this is to provide honest, dependable and high-level services or products. But, in today’s world of growing fraud, that isn’t enough. It seems almost like every other day there is a data breach attached to a big name business....
Equifax Inc. must pay victims of its breach in 2017 at least $575. Mostly, this must be done in the form of free credit monitoring. This was the very breach, because of which the sensitive data of about 150 million people was hacked. To know the latest developments concerning the Equifax breach and discover the right processor to accept payments...
You might have heard about the New Jersey bank that handled $20 million for a firm connected with a Venezuelan laundering scheme, mightn’t you? If you’re interested in more details concerning the case and are looking for a reliable payment processing company, you’re at the right place: just keep on reading this article. Venezuelan Laundering Scheme First of all, let’s...
Priority Payout Corp. and the owner of the payment processing company are banned permanently from engaging in processing or assisting in it, and must pay a contempt judgment of $1.8 million, according to the Federal Trade Commission (FTC). Priority Payout Corp. owner, Thomas Wells, has agreed to settle FTC charges that he and his company repeatedly violated a 2009 court...
The Federal Trade Commission (FTC) estimates that consumers lost $24.6 million from tech-support scams in 2015 and 2016. The average consumer loses about $280 on each scam. Last year, the FTC received nearly 143,000 reports about tech support scams. But, an even more revealing statistic is that the FTC found that people 60 and older were five times more likely...
The government of India is a leader in biometric adoption for payments. More than 1 billion Indian consumers have established a digital identity with the government, which requires users to submit fingerprints, iris scan recognition, and a photograph to collect social welfare payments. Collecting this biometric information took fewer than 10 years, and now India has the tools to identify...
