With online sales multiplying by the day, and 2020 predictions for the sector approximating at trillions of dollars, merchants must understand key market trends to stay afloat in a dynamic market. Payments, for instance, are vital in making the sales process successful. With the advent and widespread use of cellphones, the adoption of mobile wallets have increased, and so have...
A 2019 survey by 2checkout.com on customer buying habits revealed some facts about online shoppers; that data security and confidentiality matter most to customers when buying from a web-based merchant. The study also found that buyers are most likely to abandon a filled shopping cart because of a mind-change about a purchase than due to reasons like prolonged delivery periods...
For business owners, shifting to online platforms often comes with a host of risks no matter the industry you serve. Anyone can be a target! And now, new data from recent research by Iovation reveal that insurance is the next favorite e-commerce fraud target. Cybercriminals are increasingly eyeing firms that offer insurance services as web-based payments for the sector surge...
14th Sept came and the travel sector still looked like it was still not ready for two-factor customer verification. A report released days before the September 14 cut-off date showed that most sector executives were worried about their preparedness to meet the terms of the new regulation. The findings report by Amadeus dabbed Preparing for Two-factor Authentication, released less than...
Money laundering is defined as the process in which profits earned by criminal activity are converted into funds that “appear” to have been acquired by legal means. This is normally carried out by moving the illegal funds through a quick series of financial transactions. When done successfully, money laundering will hide the criminal act that generated the funds as well...
The Federal Reserve announced at the beginning of August that they are planning to build a real-time payment platform. This would address concerns from smaller financial institutions that are hesitant to buy services from The Clearing House (TCH), which is run by the nation’s largest banks and is currently the only network that provides services for all channels. By providing...
While cryptocurrency may still seem somewhat oblique in mainstream circles, the growing interest is hard to deny. Facebook is trying to capitalize while the iron is hot with its proposed cryptocurrency, Libra. While Libra has been in development for over a year, it may appear to be a poor time for Facebook to be pushing its agenda. The company has...
Although the use of digital currency is on the rise, European law enforcement is still working to keep dark web counterfeit currency in check. The growing availability of counterfeit tools on the dark web means that counterfeit networks are cropping up more frequently. A bust that happened earlier in April saw Spanish police takedown the “most active” euro counterfeit organization...
The Federal Reserve announced that the Federal Reserve banks will create a new “round-the-clock real-time payment and settlement service” called the FedNow service to provide faster payments within the U.S. It is expected to launch by 2023 or 2024. It will begin by offering support for transfers of up to $25,000. The Federal Reserve holds the belief that faster payment...
Earlier this year in March, the Policia Nacional was one nation among others in Europe that partnered with the US and Canada to shut down over 50 dark web marketplaces. As part of Spain’s crackdown against the illegal marketplaces on the dark web, the national police arrested a dark web user last year who they have identified as being an...
