Javelin report explores impact of IoT, biometrics on financial services

Javelin Strategy & Research has published a new whitepaper that discusses how the Internet of Things (IoT); connected payments from IoT devices; and new banking technologies, such as biometrics, are affecting the financial services industry. Published in association with PSCU, “The Credit Union Guide to Opportunities in IoT, Biometrics and E-commerce” projects there will be over 50 billion connected devices employed worldwide by 2020, which represents a massive opportunity for credit unions. The paper also gives insight into the future

Survey finds half of merchants use consumer authentication for ecommerce

CardinalCommerce has published its fourth annual “Consumer Authentication Survey”, which found that 41 percent of global merchants and 54 percent of global organizations use or support consumer authentication to protect themselves against fraud and false positives. The survey, which is co-sponsored by The Fraud Practice, is intended to provide insights into market use and consumer authentication programs such as Verified by Visa and Mastercard SecureCode. The 2017 survey is based on the responses of hundreds of participants worldwide between October

Mastercard to leverage the Digital India initiative

Mastercard said it is considering integrating facial recognition technology, Masterpass and other online payment methods with other services it currently offers in India, according to a report by The Tech Portal. The move is part of Mastercard’s plans to expand its investment in the country by over 30 percent, particularly in the e-commerce space. The investment aligns with the Indian government’s Digital India initiative, which aims to make government services available to citizens electronically by enhanced online infrastructure and by

Visa says E.U.’s strategy to password protect electronic payments may backfire

Visa said that the European Union’s planned strategy for combating fraud by implementing mandatory use of passwords or pin codes to authenticate all electronic transactions over 10 euros ($10.60) could potentially disrupt online shopping and may not boost security, according to a report by Fortune. The European Banking Authority, the EU’s banking regulator, proposed in August draft technical standards to combat the growing occurrence of cybercrime and online fraud. “These new proposals threaten to seriously disrupt the way we all

Survey addresses consumers security concerns when holiday shopping online

Computop released the results of its 2016 Holiday Shopping Season study, in which it surveyed US and UK consumers about how they intended to shop in the holiday season, their preferred payment methods, and their security concerns when shopping online. The web-based survey is based on 1,932 qualified responses (US: 1,037; UK: 895) between the ages of 18 and 60-plus. In terms of online payment preferences, trusted payment methods differed slightly between US and UK respondents. For instance, 59% of

Biometric trends for 2017

This is a guest post by Alan Goode, Managing Director at Goode Intelligence. Biometrics is one of the hottest topics in technology and cybersecurity markets today. The use of biometrics for user authentication and identity assurance is an essential improvement over usernames and passwords, and innovations in mobile devices, wearables, and other technologies are bringing biometrics to mainstream audiences. ‎ Join me for this webinar, Biometric Trends for 2017, on December 08, 2016, at 11:00am EST, as I discuss with

NuData included in multiple analyst reports from Gartner on fraud detection

Behavioral biometrics firm NuData Security announced their recent inclusion in multiple analyst reports from Gartner Inc. According to a statement by the company, by analyzing 80 billion behaviors annually, NuData harnesses the power of behavioral and biometric analysis, enabling its clients to verify users before a critical decision point, stop automation, reduce customer insult, and investigate bad actors efficiently. According to Gartner analyst Ant Allan’s research note, Technology Insight for Biometric Authentication, organizations should “choose tools that can confirm that

ClearSale integrates real-time biometric tools into e-commerce fraud solution

Fraud-protection firm ClearSale has developed a new, proprietary biometric toolkit called Mapper to improve the company’s ‘Total Guaranteed Protection’ service. Developed in-house by ClearSale’s fraud-detection experts, Mapper seamlessly combines the customer’s real-time behavior and historical data to analyze each individual order’s risk of fraud. Mapper is designed to prevent would-be criminals with stolen data from successfully impersonating legitimate customers to make purchases. “Fraudsters can steal information, but they cannot always reproduce regular customer behavior with a mouse or keyboard,” said

TeleSign launches continuous behavioral biometrics authentication solution for web and mobile apps‎

TeleSign announced the launch of Behavior ID, a new solution that enables web and mobile applications to measure and analyze an individual’s behavioral biometrics to provide continuous authentication, even after the user has been verified with traditional security methods such as passwords. Behavior ID collects and evaluates a combination of mouse dynamics, keystrokes, graphical user interface (GUI) interaction and advanced behavioral algorithms to establish a user’s profile and keep it secure, thereby preventing fraud and account takeover. TeleSign Behavior ID

eBay first to open source a FIDO UAF authentication server

eBay has announced its membership in the FIDO Alliance and introduced its FIDO Certified open source authentication server based on the FIDO UAF protocol. eBay is the first e-commerce company to directly achieve FIDO certification, and the first to open source a FIDO UAF authentication server. This development is the latest in eBay’s mission to foster open collaboration to define the standards for secure authentication of online services and create opportunity across the technology community at large. eBay is making