U.S. Payments Forum Report Says Touchless Transactions Are Here to Stay

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A new U.S. Payments Forum report indicates that touchless transactions are here to stay. Accertify noted that while the total number of data breaches decreased last year, the number of records that were breached increased by 50-60%, mainly due to social engineering schemes such as phishing and smishing.

Since synthetic identity fraud is on the rise, merchants will need to take stronger authentication measures to improve identity validation at time of account opening and use techniques such as EMV 3DS and tokenization to improve authentication and security during transactions.

Read the article to learn more.