Payment insight October 2023
Fraud & Cybersecurity - Players continue to innovate in the fight against fraud
- FRANCE - The French Banking Federation (FBF) has published a study on the perception and behavior of the French regarding cybersecurity.
- SPAIN - Evo Banco uses AI and location to track expenses
- INTERNATIONAL - Sis ID joins forces with IPiD to combat payment fraud
According to an FBF survey, the French don't really know how to behave in the event of an attack, even though they know that bank data is sensitive and should not be passed on to anyone, anywhere. That's why the industry continues to innovate in the fight against fraud. For example, Evo Banco's new service enables additional contextual information to be associated with each transaction (exact location of the transaction, full name of the merchant, logo). What's more, with the emergence of instant payments, fraudsters have found new loopholes to exploit. This is why Sis ID has partnered with IPID to combat fraud in international instant payment services.
TPE, Cash & Payment Retail - The payment industry continues to support the growth of marketplaces
- INTERNATIONAL - Lemonway and Payplug form partnership to make life easier for marketplaces
- EUROPE - BNP Paribas launches Panto, a payment solution dedicated to marketplaces
According to a study by Mirakl, marketplaces sales will grow six times faster than e-commerce sales in 2022. These platforms benefit from inflation, which drives consumers to compare prices and go to the sites offering the best deals. This is why PSPs and banks are creating offers to meet the new needs of these players. For example, by adopting Payplug's "facilitator payment" solution, Lemonway aims to offer marketplaces greater flexibility and higher transaction success rates. In addition, the growth of marketplaces is creating opportunities for new players, an opportunity that BNP Paribas intends to seize with Panto.
Player strategy - American Express continues to expand its acceptance strategy and innovate to reduce fraud
- UNITED STATES - Amex launches biometric solution to enhance online payment security
- FRANCE - Crédit Agricole forges partnership with American Express
In line with the trend to combat fraud, American Express has launched a pilot project using facial and fingerprint recognition to authenticate users when making a payment, in order to reinforce online security. In addition, American Express continues to expand its acceptance network. In France, thanks to the partnership with Crédit Agricole, some 70,000 additional merchants will be able to offer AmEx payments and benefit from promotional campaigns organized by the player.