Issuing bank

Mastercard Announces Consumer Protection Measures at The Pump

Retrieved on: 
Monday, May 18, 2020
Banking, Professional services, Finance, Economy, Money, Finance, Payment systems, Credit cards, Merchant services, EMV, MasterCard, Debit cards, Issuing bank

Mastercard today announced a new consumer protection program to address the fraud vulnerabilities that exist today at fuel merchants who have not completed the upgrade to safer and more secure EMV terminals.

Key Points: 
  • Mastercard today announced a new consumer protection program to address the fraud vulnerabilities that exist today at fuel merchants who have not completed the upgrade to safer and more secure EMV terminals.
  • The enhanced consumer protection program provides the merchant and issuing community with tools to help them navigate the heightened risk fraud is presenting.
  • Mastercard issuing banks will be provided with enhanced data on high-risk fraud transactions at fuel merchants to inform their authorization decisions and stop fraud before it happens.
  • Mastercard is focused on maintaining the integrity of the payments system, while also supporting issuers and merchants to keep consumers protected.

Ondot Systems Hosts Webinar to Help Card Issuers Meet Consumers’ Needs During Coronavirus Outbreak

Retrieved on: 
Thursday, April 2, 2020
Economy, Financial services, Money, Payment systems, Merchant services, Card holder, Issuing bank, Credit cards

SANTA CLARA, Calif., April 02, 2020 (GLOBE NEWSWIRE) -- Ondot Systems, the digital card services platform for credit and debit issuers, hosts its Protect your card portfolio: what to do now and what comes next webinar on April 9 at 2 pm EST for card issuers interested in effectively doing business during the coronavirus outbreak.

Key Points: 
  • SANTA CLARA, Calif., April 02, 2020 (GLOBE NEWSWIRE) -- Ondot Systems, the digital card services platform for credit and debit issuers, hosts its Protect your card portfolio: what to do now and what comes next webinar on April 9 at 2 pm EST for card issuers interested in effectively doing business during the coronavirus outbreak.
  • The coronavirus has caused consumer behavior, expectations and demands to dramatically change in a very short time, said Chris Harris, the moderator of Ondots webinar.
  • This webinar will offer best practices on how to protect issuers card portfolios and more effectively serve customers.
  • Founded in 2011, Ondot provides more than 4,500 banks and credit unions with a digital card services platform to drive cardholder engagement.

Notice of Payment Card Incident

Retrieved on: 
Thursday, February 13, 2020
Economy, Money, Payment systems, Financial services, Credit cards, Merchant services, Card security code, Issuing bank, Payment processor, Payment cards

YORK, Pa., Feb. 13, 2020 /PRNewswire/ -- CHR Corp., dba Rutter's ("Rutter's"), takes the security of payment card data very seriously.

Key Points: 
  • YORK, Pa., Feb. 13, 2020 /PRNewswire/ -- CHR Corp., dba Rutter's ("Rutter's"), takes the security of payment card data very seriously.
  • Rutter's is notifying its customers of an incident involving payment cards that were used at some of its locations.
  • The malware searched for track data (which sometimes has the cardholder name in addition to card number, expiration date, and internal verification code) read from a payment card as it was being routed through the payment processing systems.
  • Customers should immediately report any unauthorized charges to their card issuer because payment card rules generally provide that cardholders are not responsible for unauthorized charges reported in a timely manner.

SmartMetric Reports That Over $24 Billion Was Lost in 2018 Due to Payment Card Fraud Worldwide

Retrieved on: 
Monday, December 23, 2019
Security, Online Retail, Other Retail, Retail, Technology, Economy, Money, Payment systems, Financial services, Credit card, Fraud, Payment card, Issuing bank, Smart card, Chargeback fraud, Debit card

SmartMetric, Inc. (OTCQB: SMME) reported that in 2018, $24.26 Billion was lost due to payment card fraud worldwide.

Key Points: 
  • SmartMetric, Inc. (OTCQB: SMME) reported that in 2018, $24.26 Billion was lost due to payment card fraud worldwide.
  • The United States leads the world in credit card fraud with 38.6% of reported card fraud losses in 2018.
    Credit card fraud increased by 18.4% in 2018 and is still increasing.
  • Apart from the financial cost to card issuers and the time and expense of card fraud to the consumer from credit card fraud there is another serious cost that has had little reporting on.
  • To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card .

Worldpay From FIS Opens New Doors for JCB Card Acceptance in Japan

Retrieved on: 
Thursday, December 19, 2019
Banking, Professional services, Finance, Economy, Money, Finance, Payment systems, Merchant services, Credit cards, Royal Bank of Scotland Group, Worldpay, Issuing bank, Acquiring bank, JCB, Worldpay, Inc.

FIS (NYSE: FIS) today announced an agreement with JCB, the leading issuer and acquirer in Japan and a global payment network.

Key Points: 
  • FIS (NYSE: FIS) today announced an agreement with JCB, the leading issuer and acquirer in Japan and a global payment network.
  • Worldpay, FIS global eCommerce platform, will allow businesses operating in Japan to accept payments by JCB cards.
  • With this agreement, Worldpay now provides a comprehensive eCommerce solution for enterprise merchants operating in Japan.
  • JCB is a global payment brand and a leading credit card issuer and acquirer in Japan.

Payment Card Fraud Losses Reach $27.85 Billion

Retrieved on: 
Thursday, November 21, 2019
Economy, Money, Financial services, Payment systems, Payment card, Issuing bank, Credit card, Debit card

Fraud losses are incurred by payment card issuers, merchants, acquirers of card transactions from merchants, and acquirers of card transactions at ATMs on all credit, debit, and prepaid general purpose and private label payment cards issued around the globe.

Key Points: 
  • Fraud losses are incurred by payment card issuers, merchants, acquirers of card transactions from merchants, and acquirers of card transactions at ATMs on all credit, debit, and prepaid general purpose and private label payment cards issued around the globe.
  • Even though cardholders in the U.S. generated only 21.54% of $40.582 trillion in global card volume in 2018, U.S. companies incurred 33.99% of total card fraud losses worldwide.
  • Card fraud netted criminals $3.88 billion more in 2018 than in 2017," said David Robertson, Publisher of The Nilson Report.
  • Losses to fraud incurred by payment card issuers worldwide reached $19.21 billion.

SmartMetric Reports Worldwide Payment Card Fraud Losses Reach a Staggering $24.26 Billion While the USA Accounts for 38.6% of Global Card Fraud Losses

Retrieved on: 
Tuesday, January 29, 2019
Technology, Security, Professional services, Banking, Economy, Money, Payment systems, Financial services, E-commerce, Credit cards, Merchant services, Crimes, Fraud, Issuing bank, Payment card, Internet fraud prevention

The United States still leads the world as the most credit card fraud prone country with 38.6% reported card fraud losses last year.

Key Points: 
  • The United States still leads the world as the most credit card fraud prone country with 38.6% reported card fraud losses last year.
  • It is projected that payment card fraud losses are not going away.
  • According to reported research, the global card fraud losses will grow by almost $10 Billion over the next 3 years.
  • The loss to card fraud is not going away and presents an ever-growing challenge to card-issuing banks worldwide.