Au10tix Identity Verification
The company provides banks, creditors and merchants with fully automated identity verification tools needed to make risk decisions when opening new accounts and monitoring transactions in real time.
Area of Interest: Fraud Fighting and Security
New SE Asia Ecommerce Fraud Ring
Ecommerce sites in the US and Asia-Pacific lost an estimated $700 million in fraudulent sales to criminals in Southeast Asia during the fourth quarter of 2022. Operating mainly from Malaysia, Vietnam and Indonesia, the fraudsters targeted sellers of smartphones, computers and semiconductor chips.
Sardine Fraud Fighting
Three-year-old Sardine was formed to combat payment fraud that troubles companies in high-risk verticals such as account funding for fintechs, payments for processing cannabis purchases, online gambling, travel and cross-border commerce.
Investments & Acquisitions in 2022
There were 700 transactions in card payments and related fields in 2022. There were 382 transactions in the first half of the year and 318 in the second half. Those deals occurred in 68 countries.
Ellipse Dynamic CVV Module
The EVC All-in-One module from Ellipse provides a display screen and microcontroller that can be integrated into the existing card manufacturing process to provide dynamic security code numbers that better protect against ecommerce fraud, including false declines. No battery is required.
Equinix Digital Infrastructure
In business since 1998, Equinix operates 240 data centers worldwide in more than 70 metropolitan areas in 32 countries. It provides secure, low-latency network support services to stock markets, payment card networks, central banks, national payment systems, Tier 1 banks and other clients.
Card Fraud Losses Worldwide — 2021
Purchase volume (spending for goods and services), cash advances (against lines of credit) and cash withdrawals (from cardholder funds on deposit) tied to global brand, domestic-market-only and private label credit, debit and prepaid cards equaled $48.955 trillion in total volume worldwide in 2021, an increase of 16.6% from 2020.
Passkeys Replace Passwords
Protocols developed by the Fido Alliance and the World Wide Web Consortium (W3C) have been combined to create public-key/private-key cryptographic message exchanges called passkeys, a replacement for knowledge-based passwords used to authenticate online transactions.
Ravelin and Mastercard Partner to Fight Quick-Commerce Fraud
Merchants that sell online and provide immediate delivery of their goods or services, sometimes called on-demand or quick-commerce merchants, are experiencing rising losses to fraud. Those losses are particularly painful because profit margins in this sector, which includes the delivery of food and alcoholic beverages, fashion and travel, are often thin.
Visa Tokens and Cards
Virtual numbers (tokens) are used as a substitute for a cardholder’s primary account number (PAN) in payment wallets (in phones and watches) and when stored at a merchant’s data center (to handle recurring purchases) as well as in nonpayment applications to replace personally identifiable information (PII).
