Our Blog

When a merchant is placed on the MATCH list, it indicates that they pose an above-average threat to acquirers. Essentially, the MATCH list functions as a warning system for financial institutions against false merchant account information. Merchants who end up on the MATCH list face greater challenges when attempting to open a new account. In fact, they may be unable to secure payment processing a…

October 15, 2020, marked the fifth anniversary of the date when Visa and Mastercard implemented the EMV liability shift in the United States. The card schemes shifted fraud liability from financial institutions onto merchant if the card used in a fraudulent transaction was “swiped” instead of “dipped.” The October 2015 deadline marked the US market’s transition with fraud liability, but merchants …

Since 2017, nearly 50,000 accounts associated with banks, financial services provider, insurance companies, and investment firms have been compromised through a practice known as credential stuffing. This dangerous attack is perpetrated by bad actors posing as legitimate account holders and bank employees. The fraudster impersonates a user, then gains access to sensitive information. Unfortunately…

Given the extraordinary circumstances of the last six months, it comes as no surprise that contactless payments are on the rise. Due to increased consumer fear of the spreading virus, merchants had to adopt new practices to reduce the amount of physical contact experienced while handling cash or a card during the checkout process. Contactless payment methods offer a perfect solution to this proble…

Employee fraud has devastating consequences and will cripple a business from the inside out. No one wants to believe their employees are capable of such deception. Regardless, banks must be equipped to handle criminal employee fraud, and have the necessary safeguards in place to reduce the threat. Unfortunately, an alarming number of employee fraud is committed by senior employees. These bad actor…

According to reports from Mastercard, approximately two billion people around the globe are “unbanked.” This means they lack access to a bank account or other basic financial services. This is a conscious choice in some cases, but for the majority, such services are simply not available. Being unbanked is closely tied to lower incomes; consequently, it’s more common in regions where poverty is mor…