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Atlanta payments encryption firm Bluefin is partnering with New York mobile payments processor PAAY to advance eCommercesecurity. Founded in 2007 by Miles and John Perry, who serves as chief executive officer, Bluefin specializes in encryption and tokenization payment and data security. . also known as 3DS 2.0
The company recently announced that the software company Netcetera implemented the authentication system for Bank-Verlag, a company that makes and provides secure services for Germany’s banks. The authentication solution lets consumers approve eCommerce payments by using their mobile bank apps.
Driven by COVID-19 fears and stampeding online, consumers overwhelmed many businesses in 2020 that were unprepared for drastic, sudden eCommerce volume. And it’s a double-whammy for firms, including small and medium-sized businesses (SMBs), as they are very much on the hook for data security. Contactless, Meet Compliance.
With the pandemic accelerating businesses' digital shift , small retail buyers have shifted their buying operations to the B2B eCommerce realm, and for many, the online marketplace operates in lieu of a procurement solution. As such, online shopping for small retailers must be streamlined, efficient, and most importantly, secure.
Lilia Metodieva , managing director at Monneo , told PYMNTS platforms that link solution providers, partners, banks and merchants together can help speed that pivot toward eCommerce with agility as consumer buying patterns remain fluid — and digital. But eCommerce, she said, is a different story. and FX Payments in 134 currencies.
Keeping customers' digital payment data safe and secure is a critical part of doing business in the digital economy, and following Payment Card Industry (PCI) compliance guidelines is an effective way for firms to accomplish this. Getting Up to Speed on Compliance. Sharing the Compliance Burden.
While it’s not uncommon for these Internet of Things (IoT) devices to be accessed by attackers looking for a stealthy way in, it’s also not uncommon for merchants to overlook these as a point of security vulnerability. to provide additional layers of security. Going Beyond PCI.
According to Anmol Bhansali , director at Goldiam International , the evolution of the diamond sector's B2B eCommerce adoption journey has created new opportunities to strengthen the competitiveness of small and independent jewelry retailers. A B2B eCommerce Evolution. B2B eCommerce operations, dubbed Jewel Fleet.
The eCommerce marketplaces have been a lifeline for businesses and consumers who want to transact under stay-at-home orders and while safely social distancing. Around The eCommerce Payments W orld. Beauty retailer Sephora , meanwhile, is renewing emphasis on China by deploying a localized eCommerce presence.
Olivier Schott , co-founder of Scalefast , told PYMNTS that many firms pivoting to eCommerce channels may not have the resources on hand to meet those challenges. COVID has put pressure on brands to find solutions for their direct-to-consumer [D2C] strategy,” he said. And everyone, he said, wants to crack the Chinese market.
The world of payments processing will be a very different place by the end of 2020 than it was at the beginning — one where securing transactions will take on a new priority for merchants and consumers alike. And that highlights the importance of having a partner in digital security, Sevounts added. The Experience Is Everything.
With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Complex Compliance.
Some might think of eCommerce as a global force, where technology underpins transactions done 24/7, and where even the smallest businesses can see significant top-line gains as they tap new markets. Chinese companies have to work with banks and regulators, increasingly on a daily basis, as they pursue outbound eCommerce.
Backers placed the spotlight on everything from B2B eCommerce, to supply chain optimization, to Banking-as-a-Service, but human resources and payroll landed in the top spot in this week's VC roundup. The company supports the full purchasing cycle with invoice integration and compliance auditing capabilities. Procurement Partners.
Oh, and security, too – but not at the expense of that frictionless user experience. Although some customers ( millennials : cough, cough) may value convenience above all else, that youthful sense of fiscal invincibility does not extend to their elders, who place a higher premium on transaction security. What do consumers want?
Dama Financial, a financial services provider that collaborates with banks to provide services to the legal cannabis industry, is collaborating with Helix TCS on a B2B eCommerce platform for the marijuana sector. The companies announced in a press release Wednesday (Oct. Venegas in the announcement.
Through the EU’s passporting system, the new license enables PingPong to operate throughout the continent, thus better facilitating eCommerce transactions between China and Europe through PingPong’s cross-border eCommerce payments services. It is the sole payment platform to focus exclusively on repatriating eCommerce revenue to China.
As eCommerce and B2B payments expand across borders, time zones and currencies, virtual international bank account numbers (IBANS) can pave the way for firms to capture online sales efficiently — and bypass the frictions of traditional banking relationships. . The banks need to be connected to the eCommerce world.
In terms of prompt disclosure of data breaches, Lee noted that the company has hired a chief information security officer (CISO). Moreover, it also entails keys, storing those keys and how people internally access information along with the types of security technology that it uses.
It’s on the rise in the eCommerce arena, according to data released from omnichannel commerce technology and operations company Radial’s eCommerce Fraud Technology Lab. With eCommerce becoming more popular over the past few years, the practice of fraud and its prevention has rapidly changed.
Retailers must protect customers’ card data from hackers who try to snatch payment details, and following best practices to ensure security requires adhering to the regulations established by the PCI SSC, a global payments industry forum. Compliance Complexities. Orchestrating A Solution.
PAAY said its EMV 3DS offering lets merchants decrease chargeback costs, bolster authorization rates and maintain compliance as they provide an easy as well as frictionless experience for users. The company reports that retailers selling through eCommerce are experiencing record sales numbers, but fraud rates are also on the uptick.
Cybercriminals deploy a variety of tactics to process their ill-gotten gains, ranging from techniques as basic as exchanging gift cards to ones as advanced as setting up fake eCommerce storefronts. Two-thirds of customers also felt that companies’ account security measures were subpar. Developments Around The AML/KYC Space.
At a time when COVID-19 has seen global eCommerce and digital traffic grow by nearly 70 percent, security experts have braced for a commensurate surge in online fraud as the holiday shopping season continues. He said “friction” is no longer the “F-word” of the eCommerce world. Compliance Amid COVID-19.
Traditional channels for choosing the right security solutions include searching through hundreds of companies on Google, attending trade shows and conferences or dealing with constant cold calls and cold emails from security company sales reps,” said Armistead Whitney , CEO of Apptega , which recently launched CyberXchange.
Sage Pay is taking its partnership with a voice services company to a more secure level. “Aeriandi and Sage Pay’s portfolios of secure voice and eCommerce solutions complement each other extremely well, making this partnership a natural fit,” stated Richard Aldred, business development manager for Sage Pay, in the release.
In another part of the world, payment solutions provider Assembly Payments teamed up with Gumtree to create a new eCommerce market in South Africa. While eCommerce markets expand in some parts of the world, brick-and-mortar companies are still facing the challenges of competing with their online counterparts. About The Tracker.
Volumes have shifted to eCommerce, mobile wallets and contactless payment solutions and accelerated the trend away from plastic or cash. In this particular case, businesses that were not prepared for the shift to digital and eCommerce are vulnerable. What has changed is the demand for certain payment types above others.
Discover Global Network and its subsidiary Diners Club International announced Wednesday (April 20) that a deal had been reached with international eCommerce payments provider Computop to extend the reach of Discover, Diners Club and Alliance Partner credits cards wherever holders choose to use them.
HRS CEO Tobias Ragge said in the announcement, “As we’ve piloted with integrated hotel payment solutions around the world in recent years, the program compliance metrics are clear.” He continued, “When our clients use our payment solutions, we’ve seen hotel compliance rise by on average 23 percent.
A payments orchestration layer can serve as an intermediary between a merchant and its various PSPs while extending services that support payments analysis, regulatory compliance, cybersecurity, anti-fraud protection and more. At the same time, eCommerce purchasing volumes are surging, with the month of April seeing a 23.5
Adflex has unveiled a new initiative aimed at boosting supply chain merchants’ ability to accept card payments from buyers as eCommerce booms amid the coronavirus crisis. Established trading partners” benefit from an even more streamlined compliance process, with Adflex “authorised to securely store Cards on File (CoF).”.
The ledger, tied to blockchain, allows banks to exchange data about payments, resolve compliance inquiries and validate accounts. Might the advance of blockchain, of better and secure data flows tied to cross-border payments, finally kill the check? Liink, J.P. Morgan said last month, was folded into Onyx. Ready To Kill The Check?
The international eCommerce market grew to $412 billion by the end of 2019 — a 4 percent improvement over the previous year. Buyers used local payment methods for 77 percent of worldwide eCommerce in 2019, and that figure is projected to reach 82 percent by 2024. Cards can be critical to serving the U.K.
We are the infrastructure that takes what is effectively a virtual wallet — in a mobile or online sense — and connects it to the real world, either eCommerce or face to face with a card,” he said. In this case, maintained McCarthy, digital assets are made spendable. “We The Demographics — And Digital Fiat .
In the latest PSD2 Tracker , PYMNTS analyzes the impact of SCA in its first several weeks post-deadline, as well as how merchants, PSPs, banks and other members of the EU payments and eCommerce worlds are responding. Around the PSD2 and GDPR world.
In the April edition of the Payments And The Platform Economy Playbook , PYMNTS examines how regulatory compliance changes are impacting the growth of the sharing economy. The Playbook also looks at how payment services and other third-party platforms are working with shifting compliance demands to participate in the global sharing economy.
Already 70-80% of its 670 million population are active internet users, and there is tremendous opportunity to capture – Asia Pacific’s ecommerce market value is projected to grow to over US$28.9 trillion by 2026, according to the International Trade Administration. Real-world applications of this approach are already in motion.
Last month, the company secured $2 million in funding from Canopy Rivers, with the option to secure an additional $6 million from the company, while Canopy obtained an 18 percent stake in the firm as well.
The San Mateo, California-based company said the new license would aid its expansion efforts and ensure that it can “provide a secure electronic wallet.”. PingPong is truly going global, with compliance and security placed at the heart of everything we do,” added Wang. The company is now valued at $1.5
Customers want speed and security when transacting online or with various FIs and merchants. 24 percent: Share of Asia-Pacific banks that cite managing KYC compliance as a top challenge. The problem is a global one, as firms strive to satisfy KYC and AML mandates.
In the latest PSD2 Tracker , PYMNTS examines how companies, merchants and eCommerce platforms are repositioning themselves, and developing new ways to participate in the financial ecosystem while staying compliant. PYMNTS caught up with OnBuy Founder and Managing Director Cas Paton to discuss the challenges of SCA compliance.
At the start of this year, online commerce trends were following a similar trajectory to 2019: eCommerce sales were steadily growing, but they were still a fraction of those at brick-and-mortar stores. Then came the COVID-19 pandemic, triggering a massive shift online as stores closed and consumers grew wary about venturing out.
As eCommerce has become more firmly entrenched in countries such as Pakistan, buying and selling goods by digital means (moving away from the cash-on-delivery model) has generated at least a “reasonable acceptance level,” according to Wain, that gets some critical mass through a few large anchor eCommerce merchants in each market.
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