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August 4, 2021

On the web

Thwarting Authorized Push Payment Fraud


Behavioral biometrics can play an important role in mitigating the risk of authorized push payment fraud, says Reed Luhtanen, executive director at the U.S. Faster Payments Council. This biometrics technology involves, for example, “analyzing how one holds a particular device or how you are moving the mouse,” Luhtanen explains. Artificial intelligence can help analyze previous behavior patterns to determine if the right person is involved in the payment, he adds.”

July 26, 2021

On the wires

BioCatch Enters Implementation Stage of Strong Customer Authentication (SCA) for Payment Services Directive (PSD)2, Launches SCA Compliance Awareness Events

“BioCatch, the global leader in behavioural biometrics announced it has entered the implementation stage of its offering that will enable financial institutions to leverage BioCatch’s behavioural biometric-based solution to support their journey to compliance with PSD2’s implementation of Strong Customer Authentication (SCA), a regulation that requires multi-factor authentication for online transactions. BioCatch’s behavioural biometrics industry best-practices solution improves banks and financial institutions’ customer experience by applying machine learning to provide superior consumer protection while reducing friction in the digital journey.”

January 21, 2020

On the web

Here’s How Amazon’s Rumored Pay-by-hand Tech Could Work


“Amazon plans to pitch the terminals to businesses with a lot of repeat customers, such as coffee shops and fast-food restaurants, according to WSJ. Customers would use the terminals to link their palm print to a credit or debit card. Customers could establish the link between their bank accounts and palm prints by inserting a card the first time they use the terminal and then scan their hands. After that, the terminals would be able to charge customers with a wave of the hand.”

December 16, 2019

On the web

CULedger Completes Blockchain Identity Pilot With Three US Credit Unions

FinTech Futures

“CULedger claims that MyCUID users can verify their identity by using a biometric function on their smart phone, such as voice, fingerprint or facial recognition. The vendor says that data from its pilot indicated that the average time to verify a member’s identity had been reduced from the industry average of more than 50 seconds to ten or less. “As financial cooperatives, credit unions are more inclined to work together than their bank counterparts in order to best serve their members’ needs,” said John Ainsworth, president and CEO of CULedger.”

March 4, 2019

On the web

January 9, 2019

On the web

Mastercard to leverage NuData behavior analysis for untapped African payments market


“Mastercard plans to leverage the data analysis technology it acquired in 2017 with NuData Security to address the potential of the African payments market, Business Dailyreports. Nearly 95 percent of transactions in Africa are made in cash, and Mastercard General Counsel Tim Murphy said on a recent visit to Nairobi, Kenya, that security enhancements provided by NuData’s flagship product NuDetect improve the company’s ability to prevent payment fraud in the largely untapped market.”

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