A market at risk - How to beat the new fraud wave in payments
Payment fraud has evolved from an opportunistic to an industrialized automated approach. And consequently, the fraud rate is rising again.
Worldline deploys a powerful fraud-fighting strategy to proactively support clients through the entire Fraud Risk Management value chain.
In the position papers to the right, Worldline outlines practical recommendations on how to re-assess the fraud risk in light of new threats it anticipates due the growth of the digital economy.
You also have the opportunity to get closer to some of our experts. With the blog posts you are able to get insight from Worldline and leading experts on card, payments and other related topics. Just follow the link Inside Worldline>>>
Secure Payments - Value Added Services - Fraud management
Worldline is happy to invite you to our dedicated Roundtable in Oslo were you will get the chance to meet our financial service experts.
During the 3 hour session we will adress several topics allowing you to learn more about what is happening on the market from a regulative stand point but also how you can protect you payment Value chain.
Invitation and Sign up
EBA - Guidelines: "What are the EBA Guidelines Abut?"
How to handle EBA Guidelines on internet payment security to prepare PSD2
The European Banking Authority’s (EBA) Guidelines are regulatory requirements applicable to financial institutions across the EU. As the security requirements under the revised Payments Services Directive (PSD2) are not expected to come into force until 2018/9, the EBA has issued its Guidelines on the security of internet payments to bridge the period of the PSD2 finalization. The requirements are a response to increases in fraud that regulators have observed with internet payments. The Guidelines set out common security requirements for payment services providers across the EU, and provide enhanced protection of EU consumers against payment fraud on the Internet.
Issuers and acquirers under pressure
More than ever, as a stakeholder of the value chain, you have to make sure you are well prepared:
- Reassess your global fraud risks and design the right strategy
- Make sure you can quickly adapt your fraud rules
- Detect fraud as early and react as adequately as possible
- Comply to strengthened regulations
As fraud becomes radically more complex, a “one-size-fits-all” approach is no longer sufficient in combating fraud.
The constant need for greater flexibility and high-alert data accuracy can only be provided by an intelligence-based approach which links monitoring technology – both real-time and post-authorization – with business expertise and strong workflow capabilities, complemented by strong governance to support effective investigations. Acquirers and issuers will be able to select and customize the most appropriate solution, which will deliver these key benefits:
- A balance between high detection rates and low false positives
- Chargebacks brought under control
- Strong image of trustworthiness and security
- Improvement of services such as credit risk management, anti-money-laundering, marketing (i.e. to enrich customer knowledge, increase sales and propose tailored services to customers) by leveraging fraud analytics and big data methods
- A more efficient fraud risk management thanks to a consistent interconnection between the different solutions applied to all payment means across all channels
- Maximization of revenues
In an increasingly challenging market, financial institutions expect more, from a payment provider than simply handling transactions. They require a partner that can strengthen their competitive advantage. To find more inspiration on how we can support your business and our solution in Finacial Processing - visit our solution site.
Sales Manager Nordics
Worldline wins the MPE Emerging Payments 2016 award!!
Worldline awarded for its WL eBanking Payment Services solution at the MERCHANT PAYMENTS ECOSYSTEM (MPE), Berlin, February 18th 2016 .