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The rise of #ecommerce also ushered in a major increase of card-not-present (CNP) fraud across credit & debit card transactions. Read more about the shifting security needs of both merchants and consumers as online shopping continues to expand worldwide. #fraudprotection #paytech #fintech https://lnkd.in/geFd-ZyU

Over the last decade, e-commerce has surged, posing new challenges like online fraud. A "Horus Group" study found 70% of online fraud cases are false positives, where valid transactions are wrongly labeled. In 2021, Brazil logged 1.9M fraud attempts, many inaccurately flagged. CEO Eduardo Daghum stresses tech's role in cutting errors and boosting customer satisfaction through unified authentication and fraud management. #Pagsmile #Fintech #Payments

📈 Cumulative merchant losses to online payment fraud are set to exceed $343 billion by 2027. So, what are the current trends in e-commerce fraud, and how do you counter them? 📝In a recent interview with Roger Burkhardt, a member of the management team within the Payments & Identity division at Netcetera, we explored the evolving landscape of e-commerce and the pressing issue of fraud. Learn about modern solutions that secure digital payments while enabling focus on the core business and sustainability: https://loom.ly/PjfLsCU. #payments #ecommerce #merchant #token #biometrics

🔍 #PayDecoding: 𝗩𝗼𝗶𝗱 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀 What are Void Transactions and how can they benefit digital merchants? 💡 Void transactions cancel a payment before it’s fully processed, ensuring no money leaves the customer’s account. This differs from refunds, which reverse settled payments and take longer to process. For digital merchants, void transactions offer key advantages: ✅ Quick error correction ✅ Fraud prevention ✅ Improved customer experience ✅ Avoiding chargebacks Want to learn more about how void transactions can enhance your payment system? … more detailed info in our article! Check the comments for the link. 🔗 #Payments #Ecommerce #MerchantSolutions #DigitalPayments #RefundVsVoid

With AusPayNet data suggesting that 90% of payment card fraud in Australia takes place in card-not-present environments, it’s never been more important to secure the online checkout experience. That’s why we’re scaling Mastercard Click to Pay in Australia, bring the convenience of #contactless #payments to ecommerce by: 💳 Eliminating the need to manually enter card details when shopping online, using a simple and secure e-mail look up to access available cards instead. 🔒 Using #tokenisation to securely share payment credentials between the bank and the merchant 🛍️ Driving higher transaction approval rates and higher sales conversion for retailers 🏦 Supporting financial institutions with more impactful data and assurances that aid in fraud decisioning Last week Richard Wormald spoke to Capital Brief about how Mastercard is scaling its solution in Australia. Check it out at the link below or visit the Mastercard Newsroom for more details on how Mastercard #ClicktoPay is changing the game for online checkouts👇 https://lnkd.in/eYHdJf2q #payments #security #ecommerce

Tokens, in the context of payment processing, refer to a form of encryption that replaces sensitive payment details (like credit card numbers) with a unique identifier called a "token." This allows merchants and payment service providers (PSPs) to store and use these tokens instead of the actual payment information, thus enhancing security and reducing the risk of data breaches. The rise of network tokens, particularly those offered by major credit card networks like Visa and Mastercard, is driving a significant shift in how digital transactions are handled. These tokens offer greater protection by ensuring that actual card numbers are never exposed, even in the event of a data breach. Network tokens can also be dynamically updated, which makes them more resistant to fraud and chargebacks compared to traditional static card data. The growth of this technology is evident in the fact that a large portion of merchants (77%) who aren't currently using network tokens plan to implement them, while 92% of PSPs who already support the technology intend to further invest in it. Many of these improvements will focus on specific areas that benefit from increased security and smoother transactions, such as digital wallet card payments, card-on-file payments (where a customer’s payment information is stored for future use), and recurring payments (common in subscription-based services). This shift is not just about security but also about improving the overall customer experience, streamlining the payment process, and increasing the likelihood of transaction success. By making it easier and safer to store payment information, merchants and PSPs can reduce friction in the checkout process, increase customer trust, and ultimately improve conversion rates. #token #tokenization #visa #mastercard #schemes #cards #banks #fintech #fintechs #payment #payments #checkout #online #ecommerce #business #merchants #innovation #customer #splitpayments #recurringpayments

Tokens, in the context of payment processing, refer to a form of encryption that replaces sensitive payment details (like credit card numbers) with a unique identifier called a "token." This allows merchants and payment service providers (PSPs) to store and use these tokens instead of the actual payment information, thus enhancing security and reducing the risk of data breaches. The rise of network tokens, particularly those offered by major credit card networks like Visa and Mastercard, is driving a significant shift in how digital transactions are handled. These tokens offer greater protection by ensuring that actual card numbers are never exposed, even in the event of a data breach. Network tokens can also be dynamically updated, which makes them more resistant to fraud and chargebacks compared to traditional static card data. The growth of this technology is evident in the fact that a large portion of merchants (77%) who aren't currently using network tokens plan to implement them, while 92% of PSPs who already support the technology intend to further invest in it. Many of these improvements will focus on specific areas that benefit from increased security and smoother transactions, such as digital wallet card payments, card-on-file payments (where a customer’s payment information is stored for future use), and recurring payments (common in subscription-based services). This shift is not just about security but also about improving the overall customer experience, streamlining the payment process, and increasing the likelihood of transaction success. By making it easier and safer to store payment information, merchants and PSPs can reduce friction in the checkout process, increase customer trust, and ultimately improve conversion rates. #token #tokenization #visa #mastercard #schemes #cards #banks #fintech #fintechs #payment #payments #checkout #online #ecommerce #business #merchants #innovation #customer #splitpayments #recurringpayments

EMV 3-D Secure (EMV 3DS) helps card issuers and e-commerce merchants prevent fraud and increase the security of online payments. In short, it enables the exchange of data between the merchant and the issuer to authenticate the consumer and approve the transaction. The data includes information about the transaction, payment method and device. Using this data, issuers can identify and prevent fraudulent card transactions quickly and accurately, without adding unnecessary friction to the payment process that often leads to abandoned purchases. #globalpayments and its payment gateway #gpwebpay is listed in #visa Approved Solutions Directory for EMV 3DS https://lnkd.in/esK8MuRw after successful recertification of 3DS Server provided by #netcetera

As an acquirer or payment service provider, it is imperative to know that as merchants adopt more forms of payment, payment fraud ramps up too. 📈 In fact, per the MRC | Merchant Risk Council 2024 Global eCommerce Payments & Fraud Report, the types of payment fraud on the increase this year include: ⭕First-party misuse ⭕Account takeover ⭕Loyalty fraud ⭕Triangulation schemes. Close the gaps in your organization’s fraud prevention offerings, protect your customers and increase transaction success rates with Entersekt 3-D Secure merchant plug-in (MPI) and mobile SDK for merchant apps. Learn more here: 👉 https://lnkd.in/g-SvHzQj #ecommercefraud #accounttakeoverfraud #3DSecure

No more typing in our card information for online purchases, coming soon. Thanks to tokenization which replaces your 16-to-19-digit card number with a randomly generated one, your actual card information is never transmitted during the transaction. If hackers steal your token in a data breach, it’s basically worthless. That’s why we’re working with banks, fintechs, merchants and other partners to phase out manual card entry for e-commerce in Europe by 2030. #mastercard #innovation #payments