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PSD2: new authentication standards don’t have to mean more friction

As the European PSD2 regulation rolls out, more online payments will follow Strong Customer Authentication (SCA) requirements for better security. This doesn’t have to impact the customer experience. The Payment Services Directive (PSD) is a European directive launched in 2009 to regulate payment service providers throughout the European Economic Area (EEA). It was designed to increase competition across the EEA and harmonize consumer protection and the rights and obligations of payment providers and users. The PSD2 is a revised directive

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How to stop sophisticated attacks during COVID with behavioral technologies

Financial institutions (FIs) were being hit by sophisticated attacks… and then COVID happened. In March, one U.S. bank alone experienced almost 750K takeover attempts. In 2019, 7,098 data breaches exposed over 15 billion user credentials, according to Risk Based Security, then skyrocketed to 8.4 billion users exposed in Q1 2020 – a 273% increase compared to Q1 2019. The stolen personally identifiable information (PII) is now available on the dark web for schemes such as account takeovers and credential stuffing

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COVID-19 lures – New traps for old scams

They say necessity is the mother of invention. Unfortunately, it’s also a lure for opportunists looking to make a buck. And what better opportunity for online scams than a global pandemic? Sadly, COVID-19 is big business for those into online fraud. The first few months of 2020 have been unlike anything most of us have experienced. COVID-19 drove most people inside to work from home, or get laid off, and spend a lot of time on our devices waiting for

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Yes, shoppers are going digital during COVID; but is your user experience keeping up?

Creating a better user experience for your new and existing customers to extend their lifetime value The purchase of goods has temporarily moved to the online world to help reduce the spread of the COVID-19 virus. Many companies selling physical goods have seen their online customer base grow at the same rate as their physical stores closed down. Even digital goods companies without physical stores are benefiting from the public’s new hunger for online entertainment, whether it’s watching movies, playing collaborative games, or using apps to talk to friends and family.   Aside from

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Card testing damages brands – even if it doesn’t happen in your environment

When fraudsters use websites to run a batch of credit cards to find valid ones, it costs you more than a sale. The long-term effects can damage your reputation with customers and issuers. Credit card testing, also known as card cycling, is a sneaky way of validating stolen credit card credentials. It’s a simple scheme: Fraudsters find a website where they can make purchases with a small dollar amount, as these often go under the radar (donation platforms are common).

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