Payment Solutions News

Fighting Back Against Payments Fraud

Fall 2018 Issue

 

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A Note From Jeff Felser, Senior Vice President

Wherever there are payments, there is the potential for payments fraud. Significant progress is being made in combatting payments fraud through security features—like the EMV chip for credit cards, as well as the standalone features and fraud payment protections being introduced by banks and card issuers—but fraud tactics continue to evolve. Find out more about new fraud schemes and what PNC is doing to help our clients reduce their exposure to commercial payments fraud.

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PRODUCT SPOTLIGHT

Innovations in Fraud Protection

This year, PNC will be introducing a number of new payment security features—including Dynamic CVV2 two-way text messaging and fraud alerts, and new account validation services—to our commercial cards. Learn how these features, combined with PNC’s dedicated resources and support, can help stop potential fraudsters in their tracks.

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BY THE NUMBERS

Infographic: Progress Report on Fraud

The introduction of EMV has resulted in a significant decrease in point-of-sale fraud; however, other payment methods are still vulnerable. See our latest infographic for a look at how each payment type is performing, the progress organizations are making against fraud and what you can do to minimize your exposure.

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QUICK TIPS

Fraud Types At-a-Glance

As fraudsters get more sophisticated, so do the types of scams. It’s important to know what you may be up against, so we have provided descriptions and examples of six major fraud types and the impact they are having on businesses.

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COMMERCIAL PAYMENT TRENDS

Payment News Update

An at-a-glance look at recent developments in the commercial payments sector with links to related topics in previous issues in the Payment Solutions News archive.

 

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ECONOMIC REPORTS

Analysis and Forecasts of Key Economic Variables

PNC’s economists provide analysis and forecasts of national, regional and global economic and financial trends.

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Past Issues - eNews Archive

Important Information & Disclosures

This Payments Solution News was prepared for general information purposes and is not intended as legal, tax or accounting advice or as recommendations to engage in any specific transaction, and does not purport to be comprehensive. Under no circumstances should any information contained in this newsletter be used or considered as an offer or commitment, or a solicitation of an offer or commitment, to participate in any particular transaction or strategy. Any reliance upon any such information is solely and exclusively at your own risk. Please consult your own counsel, accountant or other advisor regarding your specific situation. Neither PNC Bank nor any other subsidiary of The PNC Financial Services Group, Inc. (“PNC”) will be responsible for any consequences of reliance upon any opinion or statement contained here, or any omission.

PNC and PINACLE® are registered marks of The PNC Financial Services Group, Inc. All other trademarks are the property of their respective owners.

EMV is a registered trademark in the U.S. and other countries, and is an unregistered trademark in other countries, owned by EMVCo.

RTP® is a registered trademark of The Clearing House Payments Company LLC.

Visa and Visa IntelliLink® are registered trademarks of Visa International Service Association and used under license.

Mastercard is a registered trademark of Mastercard International Incorporated.

Android, Android Pay, and the Android Logo are trademarks of Google Inc.

Apple Pay® is a registered trademark of Apple Inc.

Samsung, Samsung Pay, Galaxy S (and other device names) and Samsung Knox are trademarks or registered trademarks of Samsung Electronics Co., Ltd. Other company and product names mentioned may be trademarks of their respective owners. Samsung Pay is available on select Samsung devices.

Zelle® is a registered trademark of Early Warning Services, LLC.

BillerIQ is a trademark of Transactis, Inc.

HighRadius is a trademark and brand of High Radius Corporation.

PNC does not charge a fee for the Mobile Banking service. However, a supported mobile device is needed to use Mobile Banking. Also, your wireless carrier may charge you for data usage. Check with your wireless carrier for details regarding your specific wireless plan and any data usage or text messaging charges that may apply.

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