Payments Cards & Mobile: Biometrics – Giving the finger to fraud
4 July 2018
Clearing up the mess left behind by fraudsters is a serious challenge and sees financial institutions having to absorb the monetary and logistical damage of card payment fraud daily. Meanwhile, consumers are left with a feeling of dread when they see transactions, that they know they haven’t made, on their payment card accounts.
Finding themselves needing to take time away from work or home, to report stolen cards, cancel cards and wait for new ones. Not only is this frustrating for cardholders, it takes a huge amount of time investment by banks to resource this process. Payment card fraud is a serious problem that affects every one of us – writes Dave Orme, SVP, IDEX Biometrics.