NFC World

As fraudsters seek new ways to exploit technology, Mastercard is using Gen AI to double the speed at which it can detect potentially compromised cards, further protecting cardholders and securing the ecosystem. Fraudsters steal millions of payment card numbers through spyware, malware, and other clandestine practices such as card skimming. In a bid to sell this […]

UK Finance has releases its 2024 annual fraud report, detailing the amount its members reported as stolen through payment fraud and scams in 2023. “Nearly £1.2 billion was stolen from customers in 2023 and the criminals who commit these crimes destroy lives and damage our society,” explains Ben Donaldson, Managing Director of Economic Crime at

UK Finance, in association with law firm Addleshaw Goddard, has published a report on the use of model clauses to support the development of the Variable Recurring Payments (VRPs) for commercial applications in the UK. Facilitating commercial Variable Recurring Payments VRPs are a form of payments instruction that allows customers to authorise registered payment service

ID Crypt Global says that to combat the rapid rise in deepfake technology interfering with life in the real world, the Fraud Detection Software sector has grown by almost 200% in the past decade to become a billion pound industry. Fighting deepfakes is a billion pound industry But is it enough to avert social and

B2B SaaS product managers are now forced to look for ways to create more value for their customers, in order to increase retention and ARPU (average revenue per user). While some may assume commercial growth and revenue metrics belong in the sales team or finance team, new research shows that product teams are not disconnected

Nets and Klarna have entered a partnership that will bring Klarna’s payment methods to Nets’ Nordic merchant customers. Nets to offer Klarna payment methods Klarna’s payment options will be integrated into the Nets checkout for e-commerce merchants in Sweden, Norway, and Denmark. This will further solidify Nets’ position as a leading payments gateway provider in the

The Payment Systems Regulator (PSR) has released its provisional findings into its “Market review of card scheme and processing fees” interim report, finding that the cards schemes do not face effective competition in the supply of scheme and processing services to acquirers. Card schemes do not face effective competition The regulator’s interim report suggests the supply

The latest figures released by UK Finance highlight that fraud fell in the first six months of 2023 with a total of £580 million being stolen by criminals. This is a decrease of 2% compared with the same period in 2022. The advanced security systems used by banks also prevented £651 million from being stolen.

The European payments landscape is undergoing a significant transformation, with Visa and Mastercard losing their dominant online payment positions in several markets.         Online payment methods in Europe This shift indicates a substantial change in consumer preferences and the rise of local payment methods across the continent – according to David Rintel,

The European Central Bank (ECB) is urging European banks with operations in Russia to withdraw as quickly as they can for two reasons: 1) they could be hit by US sanction measures and 2) Russia has begun to seize assets. ECB urges banks to leave Russia as assets seized The ECB has written to lenders