Merchants, card issuers and banks are no strangers to facing off against evolving fraud threats. Debit-related fraud is a particular concern for businesses and banks as failing to thwart such schemes could have significant and costly consequences. Recent studies have found that debit issuers lost...
Consumers are increasingly turning to debit to manage their spend, and fraudsters are wise to the move. In the latest Next-Gen Debit Tracker, Chris Tremont, executive vice president of virtual banking at Radius Bank, discusses how issuing virtual debit cards and using mobile-enabled tools like...
A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. Financial institutions (FIs) and payment players are now facing questions not only about how they...
Did you know that 80 percent of customers prefer debit cards for everyday purchases? Or that as the average customer spends up to 100 percent more when using a debit card versus cash? Resilient, trusted debit cards have been riding a wave of popularity since...
Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. Effective card offerings require financial institutions (FIs) to quickly and accurately detect myriad forms of fraud, forcing them into a delicate balancing act. Being too permissive without adequately...
Eighty-six percent of consumers shopping online are targets of debit-card schemes and other forms of fraud, and these growing threats are pushing banks to rethink the tools in their fraud-fighting arsenals. In the Next-Gen Debit Tracker, People’s United Bank executives Karen Boyer and Frank Wheelahan...
Consumers have more heavily leaned on debit during the pandemic, with the economic downturn making shoppers more cautious than ever about the prospect of taking on credit card debt. A recent study even estimates that shoppers could ultimately shift $100 billion worth of annual spending...
Consumers who are staying at home during the pandemic still need to be able to acquire new debit cards and replace ones they have lost, but waiting days or weeks for cards to arrive in the mail is an inconvenience no one can afford. Businesses...
Consumers value security and touchless experiences when making debit payments — and virtual cards could give them both. In the Next-Gen Debit Tracker, Kelley Knutson, president of prepaid debit card provider Netspend, explains how virtual cards can offer the seamlessness consumers crave while keeping debit...
