General purpose and private label global brand and domestic-market-only credit, debit, and prepaid cards worldwide generated $31.310 trillion in total volume (purchases of goods and services combined with cash advances and withdrawals) in 2015, up 7.3% over 2014. Losses to fraud occur on every card type including when transactions are secured by PINs at the point of sale and at automated teller machines (ATMs).
Gross fraud losses are absorbed by card issuers and merchants as well as by acquirers of transactions from ATMs and merchants. Last year fraud reached $21.84 billion, up 20.6% over 2...
Want to read more?
Please log into your subscriber account.
Check out our subscription offers. New subscribers receive over 130 articles in the 22 issues published each year, plus the last five years of issues (that’s over 1,200 articles) on a searchable flash drive.