In the last three years, card fraud trends have shown an impressive decline, however, there has been a surge in identity theft cases and mobile fraud. Globally in 2016, about 4,003 cases of card fraud were reported in EMV exempt countries. Instead, efforts to contain payment card fraud must focus on a combination of multiple tools and practices, evolving over time, involving acquiring, issuing institutions and consumers. According to Interswitch CEO Paul Ndichu, consumer confidence is an imperative in the payment card business. Interswitch recently announced that it had received re-certification in Payment Card Industry Data Security Standard (PCI DSS) v3.2.

Source: Standard Digital May 03, 2017 10:07 UTC