Fight false declines and beat Black Friday blues

Black Friday is one of the biggest shopping events in the calendar but recent research suggests false declines could be harming merchant profits, especially at such sales boom times[1].

A false decline is when a merchant or issuer security systems flags a non-fraudulent transaction as fraudulent and, thus, refuses it.

The value of false declines per year now stands at $118bn and this is more than 13 times the $9bn lost annually to card fraud[2]. It has been estimated that one in six cardholders experienced a false decline because of (incorrectly) suspected fraud[3].

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Happy Singles’ Day!

This is a time of year replete with holidays and traditions. Some celebrated more globally, such as Christmas and Halloween, others more local such as Thanksgiving and Guy Fawkes night. And others, still, that might not be so well known but which nonetheless register highly on the commercial scale of interest.

The holiday we are thinking of here is Singles Day. It’s a relatively recent Chinese celebration with its roots in universities in Nanjing in the 1990s where bachelors would celebrate that they are proud of being single in an anti-Valentine’s Day celebration.

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Getting automated payments under control

The digitisation of our commercial lives has brought us new levels of convenience. Banking can be done on a phone app with no need to queue in-store, credit card bills can be paid online, train tickets bought on a phone and much, much more. Yet, this convenience can also come with ongoing obligations.

Recurring payments, for example, are a source of regular frustration for many consumers. Known, technically as Continuous Payment Authorities (CPAs) these agreements allow companies to take money from you in exchange for providing a service, such as subscription to an online service.

They appear to be just like Direct Debits but while Direct Debits take money from your bank account, CPAs take money from a payment card. While they are still subject to oversight by the FCA, they do not have the same set of rigorous consumer protection guarantees that Direct Debits do, such as ease of cancellation, compensation and refund, in the case of error.

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MYPINPAD welcomes Dr Steve Perry to its Board of Directors

London 07 November 2016  – In a significant move, MYPINPAD,  an enabler of multi-factor authentication for unsecured touchscreen devices such as mobile phones and tablets, is proud to announce that renowned payments pioneer, Dr Steve Perry, has joined the Company’s Board as a Non-Executive Director.

Founder & CEO of Visa Europe Collab (Visa’s Innovation Centre) and with a PhD in econometrics, Steve has enjoyed a 25 year career at Visa Europe which saw the business grow to €1.5 tn, and achieve near 100% market share in debit cards in the UK.

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MYPINPAD joins global Mobile Ecosystem Forum

London 02 November 2016  – Furthering its already impressive industry network, MYPINPAD has today announced that it has joined the long standing Mobile Ecosystem Forum (MEF).

The Mobile Ecosystem Forum is a global trade body that for the rapidly growing global mobile ecosystem, championing new ideas and best practice. MEF has Chapters across Africa, Asia, Europe, Middle East, Latin and North America.

With MYPINPAD’s mobile and tablet optimised solutions, joining the MEF makes perfect sense for the ambitious multifactor authentication provider as it seeks out new opportunities to take its solutions to market around the world.

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