To educate issuers on card fraud, payments processor The Members Group has issued a 4-part
white paper series addressing hot topics relevant to financial institutions and consumers.
The Evolving Landscape
Apple’s iPhone 6 will be a good
test of consumer comfort
with biometrics and payments
Biometricsfor paymentsRegularly monitor
authentication innovation.
bi·o·met·rics(bīō’metriks)
n. the identification of humans by their characteristics or traits used as a form of identification
and access control
Fingerprintauthentication goes
mainstream
In Japan In Finland
Consumers testmaking
purchaseswith only
their faces
ATMs use vein-profile
scanningto address high
ATM fraud
Biometricsaround the globe
Deputizing cardholdersEven the most high-tech fraud-prevention systems improve when cardholders regularly monitor their accounts for suspicious activity.
PROVIDES WAKE UP CALL
News of major data
breach finally hits MEDIA IS HOOKED
home with consumers.
NEWS COVERAGE
Card-not-presentfraud today
Digital transaction fraud is on the rise, yet new technologies
are poised to help.
Card-not-present fraud losses in 2013
$5.3 billion
Card-not-present fraud will rise
as EMV takes hold in the U.S.
Who pays?
Multi-factor authentication
protocol programs are shifting
card-not-present fraud liability to issuers
$
Card fraudduring the holidays
The challenge: delivering a great shopping experience andstellar fraud prevention
in the same package.
Spotting unusual transactions during the holidays is like spotting
a needle in a haystack
fraud losses in 2012
65%of losses absorbed by issuers
$11.27 billion
6 holiday fraud prevention tips for financial institutions
1. Update cardholder contact info
2. Establish stop date for lifted restrictions
3. Know your fraud trends
4. Use laser-targeted detection tools
5. Employ geo-targeted detection software
6. Educate cardholders
2 strategies for cardholders
EducationDetection &prevention
Percent of victimized cardholders who detected fraud on their own by monitoring accounts and using alerts and other services50%
Download Biometric Authentication Heading for Payments Space
Download the entire white paper series
Download What Card Issuers Need to Know about Card-Not-Present Fraud
Download Empowering Cardholders to Help Prevent Card Fraud
Download Fraud Protection is a Must Have this Holiday Season
800.268.1884 themembersgroup.com
