The adoption of mobile wallets has been on a steady upward trajectory in the last decade. In 2020, the global mobile payments market was valued at $1.54 trillion, growing to $1.97 trillion in 2021. According to a report by Fortune Business Insight , the market is...
As the financial industry continues to evolve, so do the methods used by fraudsters to steal sensitive information and commit card fraud. Credit unions and community banks are particularly vulnerable to these attacks, and it’s essential that they adopt a...
Mobile wallet usage has grown so rapidly since Google first marketed Google Wallet in 2011. Today, major banks are teaming up to challenge Google and other big players like Apple with their own digital wallets later this year. But new payment technology, coupled with...
DOWNLOAD Mobile Wallets: Fraud’s New Frontier The size of the global mobile payments market grew from $1.54 trillion in 2020 to $1.97 trillion in 2021 – and it is forecast to grow to $11.83 trillion by 2028. Anyone who deals with payment fraud professionally knows...
Rule-based risk scoring has been used in fraud detection since the early 1990s when credit card companies began using predefined rules to flag potentially fraudulent transactions. More recently, artificial intelligence (AI) advancements have yielded considerable...
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