Tag Archive | payments

Fraud Detection and Prevention Secures Digital Payments

Fraud Detection and Prevention Secures Digital Payments

The digital payments arena is undergoing rapid change, owing to a combination of factors. Transactions are growing rapidly year-on-year as convenience improves, and regulatory changes help to drive adoption. Meanwhile, the scope of different payment types is increasing.

via Digital Lifescapes

Online Payment Fraud will Reach $48 Billion by 2023

Online Payment Fraud will Reach $48 Billion by 2023

According to the latest worldwide market study by Juniper Research, annual online payment fraud losses from eCommerce, airline ticketing, money transfer and banking services will reach $48 billion by 2023 — that’s up from the $22 billion in losses projected for 2018.

via Digital Lifescapes

How Fintech Payments will Transform Financial Services

How Fintech Payments will Transform Financial Services

According to the latest market study by Juniper Research, the IoT payments market will grow at an average of 75 percent per year over the next 5 years, reaching $410 billion by 2023. This is up from an estimated $24.5 billion in 2018 — and the most growth will come from in-vehicle payments.

via Digital Lifescapes

Banking with Blockchain will Increase Money Transfers

Banking with Blockchain Increases Money Transfers

Global remittances totaled $613 billion in 2017, marking a 7% increase from $573 billion in 2016. Factors such as stricter immigration policies have possibly resulted in an increase in the number of remittance payments this year, and the 2018 figures are expected to rise accordingly.

via World Economic Forum

In-Store Retail Technology Innovation Gains Momentum

In-Store Retail Technology Innovation Gains Momentum

According to the latest worldwide market study by Juniper Research, retail spending at new frictionless payment stores — such as Amazon Go — will increase from an estimated $253 million in 2018 to over $45 billion by 2023.

via Digital Lifescapes

How Biometrics will Advance Mobile Payment Security

How Biometrics will Advance Mobile Payment Security

With password-based personal identity solutions becoming increasingly impractical, device vendors and mobile network service providers have begun implementing an alternative second factor — using a fingerprint, iris, facial feature or vein pattern to establish an individual’s identity.

via Digital Lifescapes

Mobile Merchant Transaction Growth in Emerging Markets

Mobile Merchant Transaction Growth in Emerging Markets

Numerous telecom service providers have expanded and tailored their services to offer the world’s poorest populations access to more sophisticated products  — such as personal savings and loans. Worldwide a large number of people who remain ‘unbanked’ are without a bank account or credit history.

via Digital Lifescapes