Today In Data

Today In Data: The Challenge Of Speeding Up Payments While Slowing Down Fraud

An awful lot of dark money moves round the world each year – between 2 and 5 percent of global GDP by UN estimates. And that figure could get bigger before it gets smaller, as payments and FIs and security experts are trying to figure out the increasingly digital world, and laboring to make it faster and less friction-filled, while also making it safer and more secure. It’s not small work – and the competition is getting steeper, particularly as brands are building out ecosystems and building new types of consumer destinations, on and offline, that promise consumers the best of both worlds.

Data:

$2 trillion: Upper estimate for how much money is laundered annually.

814: The number of cities in which Uber operates.

$50: The amount Uber users spend per week on the app.

35 percent: Share of U.S. banks that are unsure what to charge for real-time B2B payments.

5: The upper estimate on how many years it will take for mobile devices to move to center stage as authentication tools.

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