Innovation within the payment industry frequently leads to the opening of new opportunities for fraudsters. In order to avoid the costs associated with fraud attacks, all parties involved in the payment process need to improve their fraud prevention strategies.Fraudsters display unparalleled..
ACH payments are a fast, inexpensive and reliable means of electronic funds transfer. The ACH network has been one among the safest way of making payments since its inception over 35 years ago.During the past year, the news has reported breaches of corporate and government accounts by..
Internal Data Breaches are Your Biggest ThreatTo protect your payment processing and your business, be careful who you trust.Certainly businesses are fearful of attacks from the outside from cybercriminals. But, in reality, many frauds are perpetrated by people working inside of the..
Two EFT SystemsMost people think the Federal Reserve, a government regulated agency, clears all high volume monetary transactions flowing through the US system. In reality, though, there are two electronic funds transfer (EFT) systems. One is run by the government. The second is a private..
High risk ACH and Check 21 merchant accounts reduce processing risk with online signature capture program for electronic checks. The advantage of obtaining a signature for a high risk ACH or Check 21 transaction is a great reduction in the number of consumer revokes or returns. With online..
The Federal Reserve Bank of Boston has issued a report on consumer usage of electronic payment methods.According to the study:* Consumers use a payment card to pay for 52.9% of monthly bills. Payment cards include debit, credit and prepaid.* Consumer adoption of debit and credit cards, for..