Card-not-present transaction to cost Retailers over 100 Billion

Over the last couple of decades, the use of credit cards is increasing rapidly and consequences lead to the online transaction through e-commerce. Transactions through credit cards are done in two ways; using the cards in POS or using the card information in online payment gateways.

The credit card fraudulent activities may conduct in both ways; card present fraud and card not present fraud. Usually, the loss of card present fraud bear by the card issuer and on the other hand the loss of card-not-present fraud goes to the merchants.

In both cases, there are significant security measures taken by the card issuers and also the payment gateways, but the fraudsters are continuously making their way out of those. Whenever the e-commerce is growing rapidly, as a result, the rate of a card-not-present transaction is rising several times and the fraudulent activities are occurring through online phishing. Recently a Research published the report that within 2018 to 2023 the retailers are going to lose almost around 130 Billion dollars due to card-not-present transactions. The assumption is really alarming whereas the impact will lead so many retailers to the winding up. Read the full post from here.

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Biometric Authentication to Stop Money Laundering in Pakistan

Recently The State Bank of Pakistan has mandated all of its banks to start verifying all of their account holders using biometric technology. The goal of this exercise is to stop money laundering in Pakistan. In the past; opening a bank account only requires the account holder’s details in printed/written form along with their id cards. However, after this current announcement, to open a bank account in Pakistan, one has to provide biometric data using an e-registration system. This procedure is also applicable for those who have registered before without biometric verification process. Many private banks throughout the globe have already deployed biometric identification solution to reduce fraud at their banks. Biometric technology help banks to know their customers better and revolutionize their KYC process. After implementing the biometric solution from M2SYS for customer identification in the microcredit loan process, this helped Grupo Monge (Costa Rican Capital Corpor...

Iris Recognition vs. Retina Scanning – What are the Differences?

In biometrics, iris and retinal scanning are known as “ocular-based” identification technologies, meaning they rely on unique physiological characteristics of the eye to identify an individual. Even though they both share part of the eye for identification purposes, these biometric modalities are quite different in how they work. Let’s take a closer look at both and then explain the similarities and differences in detail: Retinal Scanning: The human retina is a thin tissue composed of neural cells that are located in the posterior portion of the eye. Because of the complex structure of the capillaries that supply the retina with blood, each person’s retina is unique. The network of blood vessels in the retina is so complex that even identical twins do not share a similar pattern. Although retinal patterns may be altered in cases of diabetes, glaucoma or retinal degenerative disorders, the retina typically remains unchanged from birth until death. (Source: Wikipedia) ...

How to Integrate Biometric Fingerprint Reader on Windows 7

As technology is advancing day by day, we are developing more sophisticated solutions to operate our tasks with convenience. Companies are leading the way to advancement in technology, and as always, Microsoft will be the pinnacle of the mountain. Microsoft’s Windows Operating System has billions of users, and Windows 7 is still the king of the desktop operating systems around the world. The easy to use functionality is one of the many reasons that make this operating system extremely popular. To make the operating system even easier and secure, you now have the opportunity to integrate biometric fingerprint readers in Windows 7. But how? You may think that it is very complex and costly, but in reality, it is simple. We can show you different ways depending on your expertise. There are several ways to integrate biometric fingerprint reader in Windows 7. These include: Bio-Plugin SDK Bio-Plugin SDK or CloudScanr biometric capture application will allow ...

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